Today’s Lehi Mortgage Rates
Mortgage rates as of 8/28/2026
Mortgage rates as of 8/28/2026
Most of the purchase files we take in Lehi come from people moving across the country, not across town, often people who have not set foot in Utah County yet. That changes the loan. The borrower is qualifying on a job that has not started, carrying a mortgage in the state they are leaving, receiving relocation money in a form nobody has explained to them, and closing under Utah title customs unlike their last closing. Add the international hiring this corridor does, and many Lehi buyers are also on a work visa or holding a green card issued last year. None of it is exotic, but all of it has to be documented, most of it before you write an offer.
For 2026 the FHA one-unit limit in the Provo-Orem metropolitan area, which governs Utah County and therefore Lehi, is $601,450. Conforming is $832,750. The gap is more than $230,000, and in Lehi you fall into it constantly.
| Area | 2026 FHA limit, one unit | 2026 conforming limit, one unit |
|---|---|---|
| Ogden MSA (Davis, Weber, Morgan) | $744,050 | $832,750 |
| Salt Lake City MSA (Salt Lake, Tooele) | $637,100 | $832,750 |
| Washington County (St. George) | $607,200 | $832,750 |
| Provo-Orem MSA (Utah County, incl. Lehi) | $601,450 | $832,750 |
| Cache County (Logan) | $541,287 | $832,750 |
2026 FHA forward limits per HUD Mortgagee Letter 2025-23, for case numbers assigned on or after January 1, 2026. Conforming limits per FHFA.
Here is the inversion, and it runs against everything buyers are told. Conventional wisdom says FHA is the loan for people who cannot put much down. In Lehi the ceiling flips that. A buyer with 3.5% down on a home priced above the FHA limit cannot use FHA at all, not because of credit or income, but because the loan amount exceeds what FHA insures here. That same buyer can put 3% down on a conventional loan all the way to $832,750.
So we run the comparison backwards: not whether you can escape FHA, but whether FHA is even reachable, and if so whether it is cheaper. Under the limit, a mid-600s score with thin reserves can still make FHA the winner. Above the ceiling, conventional is not the upgrade. It is the only answer.
HomeOne allows 3% down on a one-unit primary residence with no income limit at all. That is why it matters here. A Silicon Slopes engineer often earns too much for the income-restricted programs while still not having a large down payment, because they are twenty-eight and have earned that salary for eleven months. At least one occupying borrower generally must be a first-time buyer.
Home Possible and HomeReady also allow 3% down and carry reduced mortgage insurance coverage, which is where the monthly savings actually come from. The tradeoff is an income limit: both cap qualifying income at 80% of area median for the property’s location. That rules out many Lehi buyers but not all: single-income households, households where a spouse is not yet working after the move, and teachers, nurses and trades households near Lehi Fields or Dry Creek regularly qualify.
Mortgage insurance, not the note rate, is usually the bigger monthly line, and it differs by program, call 801-576-9336 and we will price all three.
Utah Housing Corporation sets FirstHome limits county by county, and Utah County shares the state’s highest tier with Juab County: $143,000 of income for a one-to-two-person household, $166,800 for three or more, and a maximum purchase price of $769,100.
| County | Income cap, 1-2 person | Income cap, 3+ person | Max purchase price |
|---|---|---|---|
| Utah (Lehi), Juab | $143,000 | $166,800 | $769,100 |
| Davis, Morgan, Summit, Wasatch, Weber | $141,400 | $164,600 | $778,500 |
| Salt Lake | $126,100 | $145,000 | $666,600 |
| Tooele | $121,300 | $139,400 | $666,600 |
| Box Elder, Cache and eight rural counties | $118,000 | $135,700 | $566,300 |
Utah Housing FirstHome limits as currently published (Form 300, rev. 07/06/2026). UHC revises these without notice, verify at application.
Work that concretely. A two-person household earning $135,000 is over the FirstHome ceiling in Salt Lake County by nearly nine thousand dollars. Move it eighteen miles south to Lehi and it is under the cap by eight thousand, ineligible in Sandy, eligible in Lehi. The price ceiling moves too: $666,600 there against $769,100 here, which is what makes this tier usable rather than theoretical, because it reaches most of the Lehi market rather than the bottom of it. A first-time buyer on a real Silicon Slopes salary can plausibly use state assistance on a normal Lehi house.
Three programs are active: FirstHome (660 score, first-time buyers, exceptions for single parents and veterans); the FHA/VA product (620, open to repeat buyers, $165,200 statewide cap: though the FHA route puts you back under the $601,450 ceiling); and Freddie Mac HFA Advantage (680, reduced mortgage insurance).
Assistance is a 30-year fixed second mortgage: traditional, up to 6% of the first and capped at $27,500, at your first-mortgage rate plus one percent with an 8% ceiling, amortizing; or deferred, up to 3.5% with the same cap, at 3.5% deferred simple interest, due at sale, refinance or maturity.
Frequently mis-stated: Utah Housing currently lists HomeAgain, NoMI and Score as suspended. If a builder’s preferred lender or a relocation counselor mentioned one of those, that is stale. A separate First-Time Homebuyer Assistance Program covers new construction only, up to $20,000 with a $450,000 price cap. See our Utah Housing page.
A large share of Lehi purchases are made by people who do not live in Utah yet and are not being paid by their new employer yet. Lenders have long-standing future-income provisions for this. They work, and they have hard edges.
It must be fully executed and non-contingent. If employment is still conditioned on a background check, drug screen, I-9 verification, reference check, security clearance or the sale of your current home, the letter is contingent and does not support the loan until those clear in writing. That is the most common reason an offer-letter file stalls: the buyer reads the letter as a job, the underwriter reads it as a conditional promise. Get written confirmation from HR. The compensation has to be usable too: a fixed base salary is the clean case, while a package weighted toward a signing bonus, commission plan or equity you have never received is much harder, because there is no history to lean on.
Your start date has to fall inside a defined window relative to closing, and that window varies by program and investor, which is exactly why a broker matters here. Employment is re-verified before funding, so if the date moves, tell us the day you learn it. A two-week slide is easy to absorb in advance and a real problem two days before funding.
Because you will own the home before the new employer pays you, lenders want reserves covering the payments between closing and your first paycheck, usually with a cushion. Reserves are months of PITI remaining after down payment and closing costs, and retirement accounts typically count at a discounted value. Build that in before deciding how much to put down: an extra $30,000 down that fails the reserve test is worse than $30,000 less down that passes.
Cleanest: close on the offer letter, then start work. Also clean: start, take one full pay stub, then close, at that point the future-income rules are irrelevant. Most awkward: under contract, already started, no stub yet. Workable, but it generates conditions. Tell us your start date early.
A lump sum paid to you is generally a source of funds, not qualifying income. It is one-time, and one-time payments do not support a thirty-year obligation. It can fund your down payment and closing costs provided we document it: the relocation agreement stating the amount, plus evidence the money arrived. Lump sums are usually taxable and sometimes grossed up, so the promised number and the deposited number differ, and if it lands as an unidentified deposit, an underwriter will exclude it from your funds to close.
Conventional financing limits interested-party contributions, money toward closing costs from parties with an interest in the sale. On a primary residence the limits are tiered by loan-to-value, smallest above 90% LTV and growing as your down payment grows. Sellers, builders, both agents and the lender are interested parties, and anything over the cap must come off the price.
The useful part: your employer is generally not an interested party. Costs paid under a relocation program are normally treated as an employer contribution, not an interested-party contribution, so they do not consume the seller-concession allowance, meaning a relocating buyer can often stack employer help and seller help where a local buyer gets one. The exception: an employer or relocation company that has taken title and is also the seller.
Larger employers sometimes offer a guaranteed buyout or buyer value option: if the old home does not sell, the relocation firm buys it. The underwriting question is narrow, does the arrangement actually relieve you of the mortgage obligation, and can you prove it? A signed, binding buyout agreement with a determined price and closing date can support excluding that payment from your debt-to-income. A brochure describing a program you might elect into cannot.
The usual obstacle in a Lehi relocation file is not income or credit. It is the house in Austin, or Seattle, or Charlotte. Until that mortgage stops counting you are qualifying with two housing payments, which at Lehi prices is often the binding constraint.
| Status of departing home | How the payment is generally treated | What we need |
|---|---|---|
| Sold and closed before your Lehi closing | Excluded. The obligation is gone | Final settlement statement showing the payoff |
| Under contract, closing before or concurrently | Usually excludable | Executed contract, evidence the buyer’s financing is approved, settlement statement before funding |
| Listed but not under contract | Counts in full | Nothing removes it; we qualify you with both payments |
| Retained and rented | Rental income may offset the payment | Executed lease, evidence of the deposit or first month’s rent, sometimes equity documentation |
| Retained, vacant or lent to family | Counts in full | n/a |
Converting the old primary residence to a rental is legitimate and common. A lender wants a fully executed lease and evidence the tenant actually paid, typically the deposit or first month’s rent showing in your account. Rental income is not counted at 100%; programs apply a vacancy factor, commonly 25%, so $2,400 of gross rent supports roughly $1,800, and any shortfall against full PITI counts as a liability.
Program differences matter here. Some investors accept the lease alone; others add requirements when you are converting a principal residence rather than buying an investment property, documented equity in the departing home, extra reserves on both properties, or both, and FHA has historically been stricter about conversions than conventional financing is. As a broker we place the file with the investor whose departing-residence rules fit your situation. Two traps: a lease signed by a relative draws scrutiny, and a lease starting after your Lehi closing may not help when you need it. If you keep the old house long term, you will be underwritten as an owner of two properties from here forward; our alternative loan programs page covers the options that open up once it is a documented rental.
Get fully underwritten before you fly out. Not a rate quote and not a soft pre-qualification, a real pre-approval with income, assets and credit reviewed. Good Lehi listings move, and a buyer asking for a long financing contingency competes badly. It also surfaces the offer-letter, departing-residence and visa questions while there is time to solve them.
Compress the house-hunting trip, not the diligence. Most relocating buyers get one trip. Spend it on neighborhoods and commute, and let the inspection happen after you are under contract, inspectors do video walkthroughs constantly. Appraisals in established Lehi subdivisions are straightforward; what slows them is a custom home near the Traverse Mountain bench, or a new phase where every comp came from one builder.
Our standard timeline is three weeks or less on a clean file. Relocation files are not inherently slower; they are slower when documentation arrives late. Send the offer letter, relocation agreement and departing-home paperwork up front and a Lehi relocation purchase closes on a local buyer’s schedule. Start a free loan inquiry and we will tell you what we need on the first call.
Utah is a title-company closing state. Settlement is handled by a title and escrow company as neutral settlement agent, not by attorneys for each side. If your last closing was in New York, Massachusetts, Georgia or another attorney-closing state, nobody will assign you a lawyer. The security instrument here is also a deed of trust rather than a mortgage.
There is no real estate transfer tax in Utah. No documentary stamps, no deed tax, nothing computed on sale price. Recording is a flat per-document fee, identical whether the home sold for $350,000 or $1.5 million, and buyers arriving from Florida, Nevada, Pennsylvania or Illinois are routinely startled by how much smaller the Utah settlement statement is. H.B. 38 raised recorder fees in most Utah counties effective May 6, 2026, but Utah County declined to increase and remains at $40 per document.
Decide early how you will sign. Fly back, sign before a notary in your current city with documents shipped both directions, or use a remote signing where all parties permit it: Utah law allows remotely notarized signings, but acceptance varies by lender, title company and recorder, so settle it in week one. A limited power of attorney is another route when one spouse cannot attend, with advance approval.
One more surprise: earthquake coverage is a separate endorsement here, not part of a standard homeowner’s policy. And on the lender line of the closing disclosure: Axent Funding has brokered Utah loans since 2002, our fees run about 25% below many competitors, and we charge no processing or junk fees.
Silicon Slopes recruits internationally and Lehi is where a lot of those hires land. This topic carries more bad information than anything else on this page. The governing principle: agency eligibility turns on lawful residency and work authorization, not citizenship. Fannie Mae and Freddie Mac require you to be lawfully present and your income to be legally earned and likely to continue, not to be a citizen.
If you hold a green card, including a conditional two-year card, you are financed essentially the same way a citizen is: same programs, same down payments, same pricing, same FHA and VA eligibility. The only extra item is proof of status, normally a copy of the card front and back. A conditional card near expiration may prompt a question about your removal-of-conditions filing, which a receipt notice answers.
H-1B, L-1, TN, E-2, O-1 and similar work-authorized classifications are generally eligible for conventional financing on the same terms as citizens when work authorization is documented, and FHA also lends to work-authorized non-permanent residents. Lenders look at three things: evidence of authorization: an unexpired Employment Authorization Document, or your visa and I-94; continuance of income, where the confusion originates, since a finite expiration date is not by itself disqualifying and a renewal history or employer sponsorship letter generally resolves it; and US credit history, the subject of the next section.
A foreign national in the lending sense has no US residency status, no work authorization and typically no US credit file: an executive employed abroad, an investor holding a Lehi property, a parent buying near a Utah university. Agency financing is unavailable. What exists is a foreign national loan program from portfolio and non-QM investors: expect a substantially larger down payment, income and assets verified through translated foreign documentation, a home-country credit reference in place of a US score, and funds seasoned in a US account before closing. They close routinely and are right when the agency route is genuinely unavailable, but they are the wrong tool for a visa holder who could have used a conventional loan, and we see that mistake often.
Someone who moved to Lehi eight months ago from Bangalore, São Paulo or Manchester may have a thirty-year credit history no US bureau can see. An empty credit file is not a bad one, and the fix is different.
Nontraditional credit. With no usable score, most programs allow a credit history built from twelve months of documented rent, utility, phone, insurance or tuition payments. It requires manual underwriting, a human reads the file instead of an engine scoring it, which brings tighter debt-to-income limits, higher reserves and no tolerance for lates. But it works, and it beats waiting two years for a score to build.
ITIN lending. Borrowers who file US taxes with an Individual Taxpayer Identification Number rather than a Social Security number can get mortgage financing, but not through the agencies. ITIN loans are portfolio products: larger down payment, two years of returns filed under the ITIN, a rate premium. They are legitimate and conservatively underwritten, and for a long-settled ITIN filer often the only path, and a genuine one.
Identity and foreign assets. A recent arrival will be asked for more identity documentation than a lifelong Utah resident; that is compliance, not suspicion. Have your passport, visa or resident card, Social Security card or ITIN letter and two years of addresses ready. Down payment money from outside the United States is usable but must be sourced and generally seasoned in a US account first: foreign statements translated if necessary, transfer records, and an explanation of origin. Start early: transfers plus documentation plus seasoning is the most common reason a strong international file misses its closing date.
Utah exempts 45% of a primary residence’s fair market value, so you are taxed on 55%. Utah County’s 2025 average total rate was 0.9621%, below the Salt Lake, Davis and Weber averages.
| County | 2025 avg total rate | Annual tax on a $700,000 primary residence | Monthly escrow |
|---|---|---|---|
| Salt Lake | 1.0504% | ≈$4,044 | ≈$337 |
| Davis | 1.0108% | ≈$3,892 | ≈$324 |
| Utah (Lehi) | 0.9621% | ≈$3,704 | ≈$309 |
| Statewide average | 0.9025% | ≈$3,475 | ≈$290 |
Calculated on 55% of market value using 2025 county average rates from the Utah State Tax Commission. Tax areas within a county vary.
The difference against Salt Lake County on an identical $700,000 home is about $28 a month: modest alone, but combined with the Utah Housing gap above, the practical difference between buying here and eighteen miles north is much larger than the table suggests.
Two warnings. On new construction, the tax figure in the listing may be land only, assessed before the house existed; the real bill is far higher, and an escrow set on that number produces a payment jump at the first analysis. We use projected assessed value instead. And if the home was a rental or second home, the listed tax may reflect an unexempted assessment, the seller’s number is not automatically yours.
Much of Lehi’s inventory is new or nearly new: Traverse Mountain, the corridor around Thanksgiving Point, and subdivisions spilling toward Saratoga Springs and Eagle Mountain. Two short points, since we cover this elsewhere.
You do not have to use the builder’s lender. Incentives tied to an affiliated lender are real money and sometimes worth taking, but compare the total, not the incentive; a rate buydown funded by an inflated fee structure is not a discount. Builder-paid incentives are also interested-party contributions subject to the caps above.
If you are building rather than buying finished, a one-time-close construction loan converts to permanent financing without a second closing or second set of fees. Our South Jordan page goes deeper on new-construction financing at this end of the valley, and most of it applies to Lehi.
We finance homes throughout Lehi and the surrounding north Utah County corridor: Traverse Mountain, Thanksgiving Point, Holbrook Farms, Spring Creek, Jordan Willows, Ivory Ridge, Lehi Fields, Dry Creek, Sunset Ridge, the Silicon Slopes corridor along I-15 and Pioneer Crossing, the historic core near Main Street and Center Street, and out to the Saratoga Springs and Eagle Mountain borders.
The loan questions shift by area. Traverse Mountain and the newer bench product regularly price above the FHA ceiling, pushing toward conventional low-down-payment financing or, at the top, jumbo. Thanksgiving Point and the Silicon Slopes corridor bring the relocation, offer-letter and visa files this page is about. Holbrook Farms, Spring Creek, Jordan Willows, Ivory Ridge and the townhomes around Lehi Fields and Dry Creek reach price points where FirstHome and the 3%-down conventional programs work well together.
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Usually yes. Lenders allow qualification on future employment income when the offer letter is fully executed and non-contingent, the start date falls within a defined window relative to closing, and you hold reserves covering the payments until your first paycheck. The letter must be clear of open contingencies, background checks, drug screens and reference checks cleared in writing. A fixed base salary is the clean case; a bonus- or equity-weighted package is harder.
The 2026 FHA one-unit limit for Utah County is $601,450, second-lowest of Utah’s metro areas, and Lehi prices frequently exceed it, while conforming runs to $832,750 in the same county. That inverts the usual advice: the low-down-payment answer here is normally a conventional 3%-down program, HomeOne, Home Possible or HomeReady. FHA still works below the limit and can be better for a lower credit score, but it is not the default.
Not necessarily, but it counts against your debt-to-income until something removes it. If the departing home has closed, or is under contract with the buyer’s financing approved and closing before or with your Lehi purchase, the payment can usually be excluded. Merely listed, it counts in full. If you rent it out, documented rental income can offset it. You need an executed lease and evidence the tenant paid, and programs typically count about 75% of gross rent.
Generally no. Conventional financing caps interested-party contributions from parties with an interest in the sale, seller, builder, both agents, lender, with limits tiered by loan-to-value on a primary residence. An employer paying relocation costs is normally not an interested party, so that contribution typically does not consume the allowance, meaning a relocating buyer can often receive both. The exception is an employer or relocation company that has taken title and is also the seller.
Yes. Agency eligibility depends on lawful residency and work authorization, not citizenship. Non-permanent residents with valid work authorization, H-1B, L-1, TN, E-2, O-1 and similar, are generally eligible for conventional financing on the same terms as citizens, and FHA also lends to them. Lawful permanent residents, including conditional green card holders, are financed essentially identically to citizens. Status is documented with an unexpired Employment Authorization Document or your visa and I-94.
An empty credit file is a different problem from a damaged one. Many programs allow a nontraditional credit history assembled from twelve months of documented rent, utility, insurance, phone or tuition payments, underwritten manually. That brings tighter debt-to-income limits and higher reserves, but it closes loans. Borrowers who file taxes under an ITIN can finance through portfolio ITIN programs, with a larger down payment and a rate premium.
Utah County shares the state’s highest FirstHome tier with Juab County: $143,000 for a one-to-two-person household, $166,800 for three or more, and a maximum purchase price of $769,100: well above Salt Lake County’s $126,100, $145,000 and $666,600. Assistance is a 30-year fixed second mortgage, up to 6% amortizing or 3.5% deferred, both capped at $27,500. HomeAgain, NoMI and Score are currently listed as suspended.
Usually yes. Mail-away closings, where you sign before a notary in your current city and documents ship both directions, are routine for relocation buyers and add only a day or two. Utah law allows remotely notarized signings, though acceptance varies by lender, title company and recorder, so settle that early. Utah closings are conducted by a title and escrow company rather than attorneys, which surprises buyers from attorney-closing states.
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Loan limits, Utah Housing caps, property tax and USDA coverage, county by county.
Axent Funding is licensed statewide and closes loans in every Utah county. We publish in-depth local guides for the markets we work in most: loan limits, Utah Housing eligibility, property tax and USDA coverage all change at the county line.