Salt Lake City and Salt Lake County Mortgage Hub: High-Balance Limits, IADUs and 55% Tax Rule — Slickrock Skylight
Updated October 2026
A Salt Lake City purchase can combine a high-balance mortgage, an accessory apartment and a property-tax bill that changes after closing. Those details deserve attention before you compare rates. Slickrock Skylight helps Salt Lake County buyers organize the financing around the actual property, rather than a neighborhood price average.
Start with the county limit, not the listing price
The 2026 baseline conforming loan limit is $832,750 for a one-unit property in most Utah counties. Salt Lake County has an elevated county-specific limit, so a mortgage above the baseline is not automatically jumbo. Loan limits apply to the amount borrowed, not the purchase price.
Check the applicable county and unit count through FHFA Loan Limits and review FHA separately through HUD FHA Mortgage Limits. Conventional high-balance and FHA ceilings are different systems; neither should be inferred from a nearby county.
A larger down payment may move a loan into a different pricing category. Compare that interest savings against the cash you would otherwise retain for repairs, moving and reserves using the monthly payment calculator.
Treat an IADU as an underwriting question
Internal accessory dwelling units are familiar along the Wasatch Front, but a basement kitchen does not automatically create qualifying rental income. The lender must determine whether the property and proposed income satisfy the selected mortgage program.
- Confirm the apartment's permitted status and legal use.
- Identify whether the home remains a one-unit property with an accessory unit.
- Gather leases, rental history or an appraiser's rent analysis as requested.
- Separate expected rental receipts from the amount accepted for qualification.
Utah is a non-disclosure state. Public records alone may not establish comparable sale prices, making documented comparable sales and appraisal support especially important.
Protect the primary-residence tax treatment
Utah's 45% primary residential exemption generally means an eligible home is taxed on 55% of fair market value. A nonqualifying second home or short-term rental generally receives no equivalent exemption. At the same value and tax rate, losing it makes the bill about 82% higher.
Review eligibility and application requirements with Utah State Tax Commission Property Tax. Watch local Truth in Taxation notices for August hearings and plan for the November 30 property-tax due date. Before making an offer, request a property-specific quote that includes realistic taxes, insurance and any HOA charges.
Compare Current Mortgage Rates
Compare current APRs, points, fees, and estimated monthly payments from participating lenders below.
Loan Program Comparison: 2026 Benchmarks
Salt Lake City and Salt Lake County Mortgage Hub: High Balance Limits, IADUs and 55% Tax Rule — Choose a mortgage by comparing eligibility, upfront cash and total monthly costs, not the advertised rate alone. Conventional, FHA, VA and USDA serve different borrowers. Confirm county limits, taxes, insurance and lender requirements before comparing personalized Loan Estimates for your household.
Historical 2025 one-unit comparison: conforming $832,750; FHA floor $541,287. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Editorial Methodology & Primary Sources
Verification date: Not recorded; check the primary source and lender timestamp before relying on an estimate.
Rate comparisons use participating lender feeds, not a whole-market survey or guaranteed offers. Freddie Mac PMMS is a market benchmark, not a personalized quote. Calculator models rely on published regulatory formulas and disclosed assumptions rather than fabricated first-person loan testing.
Monthly principal and interest use the amortization formula P × r / (1 − (1 + r)−n), where r is the monthly note rate and n is the number of payments; at zero interest use P / n. PITI adds monthly property taxes and homeowners insurance; PMI is separate. APR includes applicable finance charges under Regulation Z and is not the note rate used for payments. Compare lender Loan Estimates for actual APR and fees.
- Consumer Financial Protection Bureau (CFPB) — Loan Estimates, APR and borrower disclosures; Regulation Z.
- U.S. Department of Housing and Urban Development (HUD / FHA) — FHA program guidance.
- U.S. Department of Veterans Affairs (VA) — VA loan eligibility and benefits.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — published rate benchmarks.
- U.S. Census state tax collections — state property tax benchmarks; confirm parcel-specific assessments and exemptions with the state revenue department and local assessor.
- Utah Housing Corporation — state housing finance and property tax authority.
- Utah State Tax Commission Property Tax — state housing finance and property tax authority.
The payment snapshot uses illustrative annual taxes of 1% of home price, $1,200 insurance and 0.5% PMI below 20% down, not verified local quotes. Other calculators disclose their inputs and assumptions. Published guidance and lender feeds may change independently; confirm current program rules, taxes and offers before a decision.