Conventional Loans in Kearns, 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.

The Utah Olympic Oval is a unique amenity, it hosts public skating, hockey leagues, speed skating competitions, and fitness programs. Public skating and league ice time are year-round rec options. The Oval draws visitors from across the valley, which supports nearby commercial activity and gives Kearns an identity that other affordable communities lack. Properties near the Oval can market the recreational access as a lifestyle perk. While it doesn't dramatically lift values, it prevents the stagnation that can affect communities without anchoring amenities.

3-bedroom single-family homes in Kearns typically rent for $1,400–$1,700/month, with updated properties at the higher end. 4-bedroom homes with finished basements reach $1,700–$2,000. These rents paired with purchase prices in the $300K–$380K range produce strong cash-on-cash returns. The tenant pool is price-sensitive, so competitive pricing and responsive maintenance are key to minimizing vacancy. Properties with fenced yards and updated kitchens lease fastest.

Kearns has shown steady but unspectacular appreciation, it tends to follow county trends rather than lead them. The long-term hold case rests on cash flow and gradual value increase rather than speculative appreciation. As Salt Lake County's affordable options shrink, Kearns' relative value should improve. The fixed housing stock (no significant new construction land) means supply is constrained, which supports both rents and values over time. Investors who maintain properties well and keep rents competitive tend to do well here over 10+ year horizons.