FHA Loans in Midvale, Utah

The minimum credit score for an FHA loan with 3.5% down is 580. If your credit score is between 500 and 579, you may still qualify with a 10% down payment. These are FHA minimums, individual lenders may have overlays that require higher scores. We work with multiple FHA-approved lenders to find the best fit for your credit profile. If your score is below the minimum, we can recommend credit counseling resources to help you get mortgage-ready.

FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount and an annual mortgage insurance premium (MIP) paid monthly. The annual MIP rate depends on your loan amount, down payment, and term length. For most borrowers putting 3.5% down on a 30-year loan, the annual MIP is 0.55% of the loan balance. Unlike conventional PMI, FHA MIP remains for the life of the loan unless you refinance to a conventional loan after building sufficient equity.

Yes. FHA loan limits vary by county and are updated annually. In Utah County and Salt Lake County, the current FHA loan limit for a single-family home is significantly higher than the national baseline. We can confirm the exact limit for Midvale and help you determine if the median home price in your desired neighborhood falls within FHA limits. If you need a loan above the FHA limit, we can explore conventional and jumbo options.

Yes. The FHA 203(k) rehabilitation loan lets you finance both the purchase price and renovation costs in a single mortgage. There are two types: the Limited 203(k) for cosmetic improvements up to $35,000, and the Standard 203(k) for larger structural renovations. This can be especially valuable in older neighborhoods where homes may need updating. We guide you through the contractor selection and draw process.

Midvale's redevelopment, particularly Bingham Junction and other mixed-use projects, is gradually lifting property values across the city. The pattern is similar to South Salt Lake's evolution, new commercial and residential development can lift surrounding property values. Existing single-family homes in stable neighborhoods benefit from the improving city identity without being directly displaced. Investors who positioned early in this cycle have seen strong appreciation, and the trajectory appears sustainable given the city's transit advantages and central location.

Three TRAX stations give Midvale exceptional transit connectivity, tenants can reach downtown SLC in 20 minutes, the University of Utah in 25 minutes, or Sandy in 10 minutes without a car. This expands the applicant pool to households that want a car-light commute. Properties within a 10-minute walk of TRAX stations often command rent premiums of $75–$150/month and experience faster lease-up.

Check Midvale Police, Utah DPS, and published neighborhood-level dashboards for the specific block, and compare several recent years rather than a city-wide headline. Lighting, locks, and cameras are operational items we can address; they are not a substitute for current public data.