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Conventional Loans in Salt Lake City, UT (2026): Down Payment, PMI & Limits — $495,700 Median

Quick answer

Conventional buyers in Salt Lake City, UT need $14,871 at 3% down or $99,140 at 20% down on the $495,700 Census median home value. Salt Lake County's $832,750 conforming limit is $337,050 above that median; 5% down gives an estimated $3,698/month payment including $196 estimated PMI.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

How does Salt Lake City compare with Utah?

The city's median is above the statewide median by $40,700. The higher price-to-income ratio makes the down payment and monthly debt budget particularly important. The median is 59.5% of the conforming limit. A median-valued purchase fits the FHA base-loan limit at 3.5% down.

How much down payment and PMI would a typical Salt Lake City home need?

Down paymentCash downEstimated PMI / monthEstimated PITI + PMIIncome at 28% / 36%
3%$14,871$200$3,769$162,000 / $126,000
5%$24,785$196$3,698$159,000 / $124,000
10%$49,570$186$3,519$151,000 / $118,000
20%$99,140$0$2,998$129,000 / $100,000

3%-down conventional products have borrower/program restrictions. PMI uses a fixed 0.5% annual loan-balance estimate at less than 20% down; it is not a credit-specific quote or an assumed discount by down payment. Payments include state-average tax and insurance and assume zero other debts.

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Is there down payment assistance in Salt Lake City?

No applicable programs have been verified for this city yet. Check the state housing finance agency for current assistance.

Home buying in Salt Lake City · The Utah version

Conventional loans in the nearest eligible cities

North Salt LakeSouth Salt LakeWoods CrossWest Valley CityBountifulMillcreek

Home loan options in Salt Lake City

FHA loansFirst-time home buyer programsVA loansHome affordabilityNew construction home loans

Frequently asked questions

Conventional buyers in Salt Lake City, UT need $14,871 at 3% down or $99,140 at 20% down on the $495,700 Census median home value. Salt Lake County's $832,750 conforming limit is $337,050 above that median; 5% down gives an estimated $3,698/month payment including $196 estimated PMI.

0 city-level, 0 county-level and 0 statewide programs are verified for this city (0 total). Eligibility and available funds depend on each official program's terms.

Median household income is $74,925, while median home value is $495,700, a 6.62 price-to-income ratio. At 5% down, 7.18% and state-average taxes and insurance, about $159,000 income is needed under the 28% housing guideline; debts also count toward the 36% total-debt guideline.

Sources

Data last updated November 5, 2026.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.