Utah Conventional & FHA 2019 Loan Limits by County

2019 Brings a Significant Bump in FHA and Conventional Loan Limits Across the State Conventional loan limits generally raised by 6.5%, except in Salt Lake and Tooele Counties, which were unchanged when compared to 2018. Similarly, FHA loan limits were also raised by approximately 6.5%, including in Salt Lake and Tooele Counties. The first [...]

3 Common Concerns Sellers Have About FHA Borrowers

For first-time homebuyers entering the real estate market, an FHA loan is an attractive option for an affordable residential mortgage for a number of reasons including lower credit score and down payment requirements. The same features that make the FHA loan program so attractive for buyers doesn't always seem so great from the seller's perspective. When sellers [...]

2017-11-22T16:42:24+00:00November 22, 2017|Economics 101, Loan Update 101|

3 Smart Solutions for a Low Credit Score

Having a higher credit score can open the door to more financial opportunities. When it's time to buy your Utah home, one of the first things you'll likely look into is your credit score. This three-digit number gives lenders a hint as to how likely you are to pay your bills completely and on time. [...]

No, you don’t need a 20% down payment to buy a house in Utah

No, you don't need a 20% down payment to buy a house in Utah. We've got options. Lack of inventory has made for a highly competitive Utah housing market this year, which in turn has pushed home prices up. According to the U.S. Census Bureau, the average home price in February 2017 was $390,400. This [...]

Is an FHA Loan or a Conventional Loan with PMI a Better Option?

Among the many decisions you'll have to make on your journey to homeownership will be the choice of how much to pay upfront, also known as the down payment. The traditional amount to put toward your down payment is 20% of the home's value. But, as many prospective homebuyers know, this isn't always feasible. Many [...]

2017-04-06T17:44:54+00:00December 9, 2016|Economics 101, Loan Update 101|