Conventional Loans in Holladay, 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.

Updated 4–5 bedroom homes with modern kitchens, quality finishes, and mountain views command the strongest demand. Corporate relocation assignments often need turnkey 4–5 bedroom homes near canyon access and Holladay Village. Homes with separate home office space, two-car garages, and outdoor entertaining areas are particularly sought after. Furnished rentals for 6–12 month corporate assignments can command significant premiums. Luxury townhomes near Holladay Village also lease well when walkability to retail is the pitch.

Holladay and Cottonwood Heights share canyon geography but have distinct commercial patterns. Holladay has the Village retail center, while Cottonwood Heights has less commercial square footage and more purely residential streets. Rents are comparable, with slight premiums in Holladay for Village-adjacent properties and in Cottonwood Heights for homes closest to canyon access. Both are excellent premium markets. Investors often view them as interchangeable for portfolio purposes, though tenant preferences may lean one direction based on lifestyle priorities.

Holladay has consistently outperformed Salt Lake County appreciation averages, driven by limited developable land, premium location, and persistent demand from high-income households. The supply constraint is structural, the city is essentially built out, with new inventory coming only from tear-down/rebuilds and limited infill. This means appreciation should continue to outpace the county even in softer markets. For investors, the combination of steady appreciation and premium rents makes Holladay a strong wealth-building market despite modest cash-on-cash yields.