Magna Home LoansFirst Homes, Fixer-Uppers & Investments
Homeownership in Magna is closer than many renters think. With low-down-payment loans and assistance programs, your first home may take less cash than you expect.
- First-time buyer programs
- Renovation & investor loans
- Fast pre-approval
How much do I need down to buy a home in Magna?
Often less than you think. FHA loans allow 3.5% down with a 580+ credit score (up to $637,100 in Salt Lake County in 2026), qualifying first-time buyers can put 3% down on a conventional loan, and eligible veterans can buy with $0 down. Down payment assistance can cover part of the rest.
Reviewed by Kenny Farshchian, NMLS #1639863Updated
An attainable place to start building equity
Magna sits at the northwest edge of the valley below the Oquirrh Mountains, with a historic Main Street and the Empress Theatre at its heart. It became a city in 2024, and newer subdivisions on its west side sit alongside older homes from its mining-town past.
Investors like this market too. If you're buying a rental, or a duplex to live in, we'll compare FHA, conventional and DSCR loans so you can see the cash needed and the return.
Magna at a glance
| Detail | Magna |
|---|---|
| County | Salt Lake County |
| Area | West Side |
| ZIP code | 84044 |
| Public schools | Granite School District |
| Your loan officer | Kenny Farshchian, NMLS #1639863 · call or text (385) 758-5247 |
ZIP codes and school boundaries don't always follow city lines; confirm a specific address with your agent, the county or the school district.
Loans Magna buyers use most
Magna buyers mix and match these programs to get in with less cash.
FHA Loans
3.5% down with a 580+ score, up to $637,100 in Salt Lake County.
Learn moreDown Payment Assistance
Programs that can cover part of your down payment or closing costs.
Learn moreConventional Loans
From 3% down for qualifying first-time buyers.
Learn moreRenovation Loans
Buy an older home and finance the repairs in the same loan.
Learn moreVA Loans
$0 down for eligible veterans and service members.
Learn moreDSCR Investor Loans
Buying a rental? Qualify with the property's rent.
Learn moreSalt Lake County loan limits for 2026
These limits apply to single-family homes. Loans above the conforming limit are jumbo loans.
| Loan type | 2026 limit (1 unit) | What it means |
|---|---|---|
| Conventional (conforming) | $832,750 | Most homes in Salt Lake County fit under this limit. |
| FHA | $637,100 | 3.5% down with a 580+ credit score. |
| VA | No limit with full entitlement | $0 down for eligible veterans and service members. |
| Jumbo | Above $832,750 | Higher-priced homes; stronger credit and reserves. |
Sources: FHFA 2026 conforming limits and HUD 2026 FHA limits. Limits change each January.
What to know before you buy in Magna
- Historic homes near Main Street can need work; a renovation loan can finance the updates with your purchase.
- Newer subdivisions may offer builder incentives; compare them against an outside Loan Estimate.
- Ask the seller to help with closing costs. FHA allows seller contributions of up to 6% of the price.
- Have us review your credit before you shop. A few small fixes can improve your options.
Three steps to your keys
- 01
Get a real pre-approval
Share your income and assets once. We compare loan options from multiple lenders and tell you exactly what you can afford, usually within 24 to 48 hours.
- 02
Shop with confidence
Make offers in Magna with a pre-approval letter local agents trust, and a loan officer who answers the phone when your agent calls.
- 03
Close on time
We manage appraisal, underwriting and title, and keep you and your agent updated at every step until you get the keys.
We also serve cities near Magna
Taylorsville
Taylorsville sits in the heart of the valley, home to Salt Lake Community College's Redwood campus and the Midvalley Express (MVX) bus rapid transit line, which began service in 2026.
Learn moreWest Valley City
West Valley City is Utah's second-largest city, home to the Maverik Center, Valley Fair Mall and the Utah Cultural Celebration Center.
Learn moreKearns
Kearns became a city in 2024 and is home to the Utah Olympic Oval, the speed-skating venue from the 2002 Winter Olympics.
Learn moreAll areas we serve
Local guides for cities in Davis, Weber, Salt Lake and Cache counties. We're licensed throughout Utah.
Learn moreMagna Home Loan Questions
Possibly. Utah Housing Corporation's First-Time Homebuyer Assistance Program offers up to $20,000 toward a newly built home that has never been lived in, with price and income limits, while funds last. It's paired with a Utah Housing first mortgage. We'll check whether the home and your income qualify.
Magna is in Salt Lake County, where the 2026 single-family limits are $832,750 for conventional loans and $637,100 for FHA loans. VA loans have no limit for borrowers with full entitlement, and loans above $832,750 are jumbo loans.
FHA allows 3.5% down with a 580+ score, and many conventional programs start around 620. A higher score can lower your payment, so we'll check whether a few quick fixes are worth it before you apply.
Yes. We're a mortgage broker based in Layton, serving Magna and communities across Salt Lake County. You can meet us in person, work by phone or video, and apply securely online.
Ready to buy in Magna?
Get a pre-approval you can count on and a local broker who answers the phone. No pressure, no obligation.