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Making Utah Your Home - The Best Utah Mortgage Rates, Resources & Information

Are you considering buying or refinancing a home in Utah? Or tapping into your home equity to consolidate high interest debt?. If so you've found the right place.

Our information will help you learn about all types of Utah home loans and our helpful list of specific UT Mortgage Resources & services is specifically tailored for our state. Having some knowledge of how mortgage loans work wherever you live in Utah can help you select a home and keep it for years to come. Whether you're looking for a Salt Lake City new home loan or a Provo mortgage refinance, it pays to do your homework.

Also compare competing quotes from our lender database of reputable Utah mortgage lenders by filling the form to the right. For most of us, buying a home is the largest investment we'll make in our lives, so take the time to speak to different lenders and see what offers are available to you. Getting several competing quotes and getting the best offer can save you thousands over the course of your loan.

Utah Mortgage Programs Assist First Time Buyers

Due to tightening credit requirements, first time buyers often need help qualifying for a mortgage. First time homebuyer programs typically provide down payment assistance via "silent" second mortgage loans that don't have to be repaid until the homeowner ceases to occupy the property.

The Utah Housing Corporation administers state housing programs, but cities including Salt Lake City, Provo, and Ogden also have community homebuyer programs.

Before you start looking at homes, it's a good idea to use mortgage calculator tools to determine how much you can afford to spend on a home and mortgage loan. Enter a mortgage payment amount for estimating how much you can afford to borrow. Understanding how your mortgage repayment term can help you save is useful when selecting a mortgage. Using an amortization calculator is helpful for comparing monthly payment amounts and potential interest savings for mortgage loans of 15, 20, and 30 years duration.

Refinancing Your Utah Mortgage

Homeowners may refinance their mortgage loans for a variety of reasons including better rates, debt consolidation, or home improvement. Utah provides homeowners with certain incentives including tax credits for home improvements that reduce energy costs. Taking advantage of favorable refinancing rates can provide funds for making required improvements and gaining the benefits of these programs.

Utah Mortgage Costs: What's the APR?

When shopping for a mortgage, you may hear the terms "rates" and "APR" or "annual percentage rate." Rates typically refer to the interest rate being charged for a mortgage. The annual percentage rate (APR) represents all finance charges for a mortgage expressed as an interest rate. Using an APR calculator assists with comparing costs and choosing the best Utah mortgage terms. Use the following resources to get the most out of your home and mortgage

Resources

Utah Division of Real Estate: This state agency oversees licensing of mortgage professionals and real estate sales personnel. Also provides information on foreclosure prevention and fraud.
Utah Housing Corporation (UHC): This public corporation provides low cost mortgage loans and referrals to approved lenders through its programs.
UHC First-time homebuyer programs: This page provides links to first time homebuyer programs, including specialized opportunities for veterans and single parents.
UHC refinance program for homeowners with ARM loans: This link outlines the "Dream Saver" program that assists Utah homeowners in refinancing to fixed rate mortgage loans.
US Housing and Urban Development (HUD) resources in Utah: This site provides links to housing resources in Utah including community homebuyer programs, foreclosure prevention, and housing counseling.
HUD information on lowering energy costs: This site provides information on lowering energy costs and information about energy incentive programs.
Veterans Administration loan guaranty program - Denver region: This link provides information about the VA's home loan programs for Utah's US military veterans.
Utah Housing Coalition: This site provides information on statewide housing issues and promotes homeownership for Utah's residents.
Green Homes in Utah: This site provides information about residential incentive programs for "going green."
Tax rate (estimates by state): This link provides estimated property tax rates by state.
Utah foreclosure prevention information: This site offers advice about avoiding foreclosure and provides links to housing counseling, and information about predatory lending and foreclosure fraud.
Utah foreclosure law summary: This site explains Utah's foreclosure process and approximate timetables.