FHA Loan Requirements, Limits and Approval Tips
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2022 FHA Loan Limits in Utah

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The FHA loan limit in Utah determines how much a homebuyer can borrow when purchasing a single- or multifamily property in that state using an FHA-insured mortgage loan. These mortgages, backed by the Federal Housing Administration (FHA), offer lower credit score requirements and allow buyers to purchase properties for as little as 3.5% down. In 2022, FHA loan limits in Utah range from $420,680 to $970,800 for a single-family home.

Utah FHA loan limits by county

County nameOne unitTwo unitsThree unitsFour unitsMedian sales price
BOX ELDER$646,300$827,400$1,000,100$1,242,900$546,000
SALT LAKE$523,250$669,850$809,700$1,006,250$455,000
SAN JUAN$420,680$538,650$651,050$809,150$175,000

How are FHA loan limits determined?

The maximum mortgage amount for a Federal Housing Administration-insured loan is called the FHA loan limit. This limit takes two important factors into consideration, where you’re buying your home and what sort of property you want to purchase.

Annual FHA loan limits are based on the national conforming loan limit, the maximum originating mortgage amount that Fannie Mae and Freddie Mac are able to purchase — in 2022, the conforming loan limit is $647,200 for a single-family home. FHA loan limits fall between 65% and 150% of that conforming loan limit; the exact limit set for a county will depend on the previous year’s average home sales price.

The lowest possible FHA limit is called the “floor,” and applies to most areas of the U.S.. Higher-cost areas may qualify for larger FHA loan limits, the highest of which is considered the “ceiling.” In 2022, the FHA loan floor for a single-family home is $420,680, while the ceiling (offered in only two Utah counties) is $970,800.

How to qualify for an FHA loan in Utah

FHA loans in Utah may help borrowers with lower credit scores and less cash for a down payment be able to obtain a mortgage. And if you’re a first-time homebuyer,  you may also be able to take advantage of first-time homebuyer programs in Utah, which can offer down payment assistance, help throughout the buying process, and other educational resources.

But whether you’re a first-timer or a repeat homebuyer, you’ll need to meet the FHA loan requirements:

  • A 3.5% minimum down payment: If your credit score is 580 or above, you may qualify for a down payment of only 3.5% on the purchase of your home.
  • A 500 minimum credit score: A credit score of 500 or higher is required for FHA-insured financing. If your score is between 500 and 579, a down payment of 10% will be required.
  • A DTI ratio of 43% or less: Your DTI ratio is the amount of your monthly income devoted to debt payments. Lenders will typically look for a DTI of 43% or less.
  • An FHA appraisal: If you purchase a home with an FHA loan, you’ll need to get an FHA appraisal.
  • Mortgage insurance: You’ll be required to pay two types of mortgage insurance: upfront mortgage insurance (UFMIP) and annual mortgage insurance premiums (MIP). UFMIP is 1.75% of the home purchase price and can be rolled into the mortgage balance, while MIP ranges from 0.45% to 1.05% of that purchase price, charged annually and added to your monthly payment.
  • Primary residence: When purchasing a single-family property with an FHA loan, the borrower will need to primarily occupy that residence. This loan cannot be used for second or investment homes.

Buying a multifamily property with an FHA loan

An FHA loan can also be used to purchase a multifamily property, up to four units. As long as you live in one of the units for at least 12 months, you can purchase a multifamily property with just 3.5% of the purchase price.

FHA lenders in Utah

Here are five lenders to consider when looking for an FHA loan in Utah, as well as links to our full reviews of them.

Lender name LT rating Minimum FHA credit score 
Lower Mortgage10 / 10580
Rocket Mortgage9.5 / 10580
Truist 9 / 10620
BMO Harris Bank 8.5 / 10580
Guild Mortgage9 / 10540


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