Conventional Loans in Highland, Utah

The minimum down payment is 3% for first-time homebuyers through programs like Conventional 97 or HomeReady, and 5% for most other borrowers. Putting 20% or more down eliminates private mortgage insurance entirely. For an investment property, expect a minimum of 15–25% down. We help you weigh the tradeoffs between a lower down payment (preserving cash) and a higher down payment (lower monthly payments and no PMI).

Conventional loans have no upfront mortgage insurance premium, PMI cancels automatically at 78% LTV (FHA MIP is permanent on most loans), higher loan limits in many Utah counties, and no FHA-specific property condition requirements. However, FHA loans have more flexible credit requirements and lower down payment minimums. If you have a credit score above 680 and can put at least 5% down, conventional is typically the better long-term value.

Conventional loans are a common path for investment properties. Down payment, occupancy, and pricing differ from a primary residence. We will not publish a promised rate markup.

Most conventional programs start around a 620 score, with overlays often higher. Higher scores often improve pricing, but there is no single “best rate” score. Scores between 620 and 700 can still fit some files with different PMI or pricing. That is not a promise of approval.

Highland and Alpine share large-lot character, but Highland is more accessible with slightly smaller typical lot sizes and more developed commercial amenities (especially with the new Town Center). Highland's housing stock tends to be newer on average, and prices, while premium, are generally below Alpine's top tier. For investors, Highland may offer better liquidity because more homes trade and rents sit slightly below Alpine's top range. Both are in the Alpine School District.

Highland Town Center is a mixed-use development that's transforming the city's identity from a purely residential bedroom community into a place with walkable dining, shopping, and gathering spaces. The development includes restaurants, retail, and residential components. For existing Highland property owners and investors, the Town Center adds lifestyle amenities that enhance rental marketability, tenants can now walk to dinner or coffee rather than driving to American Fork for everything. This is a meaningful quality-of-life improvement that supports rent growth and tenant retention.

4-bedroom homes in Highland typically rent for $2,500–$3,500, with 5-6 bedroom homes on large lots reaching $3,500–$5,000. These rents reflect the premium location, school district, and property quality. Acquisition costs in the $600K–$900K range mean cash-on-cash returns are modest, but appreciation has been strong and consistent. Highland is a wealth-building market for investors who value stability, low management intensity, and longer average occupancy. The small inventory of rentals means well-priced listings generate immediate interest.