Mon. Jan 25th, 2021

If you want to buy a house in Utah, you are not alone. With about 1.1 million housing units And the average homeownership rate above 71% according to the US Census Bureau 2018 American Community Survey, Utah is a popular place to call home.

Utah has a median housing price of $ 303,300, well above the national average of $ 229,700. Home values ​​can vary by region, however, with median home prices as high as $ 598,900 in some parts of the state.

What are the mortgage rates in Utah?

Average interest rate for a 30 year fixed rate Simulating mortgage in utah 2.82%.

House interest rates Range from 2.5% Service 3.25% In Utah.

What are today’s mortgage rates?

By locking in a low mortgage rate today, you can save thousands over the life of your loan. Compare your mortgage rate offers with national average trends.

Loan type

Rate of this week

Last week rate

30-Year Fixed Rate Mortgage 2.87% 2.9%
15-Year Fixed Rate Mortgage 2.34% 2.38%
30-Year Fixed-Rate Jumbo Mortgage 2.89% 2.93%
5/1 ARM 2.99% 3.03%
5/1 Jumbo ARM 2.86% 2.85%

* Rates for January 1, 2021

US News’ Best Utah Mortgage Lender

Methodology: US News conducted an in-depth review of major direct mortgage lenders in Utah. The research was based on program availability, customer satisfaction ratings, and qualification requirements. Because each consumer has different needs, the top finishers were chosen in several key areas.

Best for va loan

Giants United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, DC, and specializes in VA loans. In 2019, Veterans United Home Loan generated the largest VA loan in the nation.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
  • Minimum FICO Credit Score: 660
  • Maximum loan amount: $ 1.5 million
  • Better Business Bureau Rating: A +

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  • No military service required

  • No minimum loan amount determined

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Best for large loan amount

Bank of America serves approximately 66 million customers in all 50 states. The lender offers traditional, Federal Housing Administration, Department of Veterans Affairs and Jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Lender highlights

  • Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: $ 5 million
  • Better Business Bureau Rating: A +

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  • Different types of mortgages

  • Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients

  • No closing costs and no annual, balance transfer and cash advance fees for Halox.

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Best for online service

Caliber Home Loans of Coppell, Texas offers nationwide mortgages including traditional, refinance, jumbo and adjustable rate loans. The government-backed options are FHA, USDA and VA. Caliber has been in business since 2008 and focuses solely on home loans.

Before you apply

  • Mortgage Type: Traditional, FHA, Jumbo, Refinance, USDA and VA
  • Minimum FICO Credit Score: 580
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: a

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  • Homebuyer offers programs for the first time

  • FICO accepts mortgage applicants with credit scores as low as 580

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Best for low cost

Chase, one of the largest banks in the country, offers mortgage and refinance loans to qualified borrowers. Home equity loans and HELOC are also available.

Before you apply

  • Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
  • Minimum FICO Credit Score: 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

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  • Accepts up to 3% down payment

  • Receives high marks from Better Business Bureau

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Best for product selection

Guild Mortgage, established in 1960, specializes in home loans and serves lenders around the country. The complete lender of products includes traditional and government-backed mortgages and home equity loans.

Before you apply

  • Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
  • Minimum FICO Credit Score: 600
  • Maximum loan amount: Different
  • Better Business Bureau Rating: A +

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  • Receives strong customer service rating from Better Business Bureau

  • Offers a wide range of mortgage products

  • Offers exclusive mortgage programs for first time buyers and manufactured homebuyers

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Best for customer service

LoanDepot was founded in 2010 and has since funded over $ 70 billion in mortgages. It offers FHA, traditional and other mortgage options. Borrowers with a FICO credit score as low as 580 may qualify for a loan.

main characteristics:

  • Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
  • Minimum FICO Credit Score: 500 with conditions
  • Maximum debt-to-income ratio: 43% for FHA
  • Maximum combined debt-to-value ratio: 90%
  • JD Power Satisfaction Rating: Four out of five

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  • The LoanDepot mortgage has a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.

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Best for online service

Priming is a Dallas-based mortgage lender, with a number of mortgage loan options including traditional loans, jumbo loans, government backed loans and refinance loans. The lender is a subsidiary of PlainsCapital Bank.

main characteristics:

  • Loan Type: Traditional, FHA, VA, USDA, ARM, Refinance
  • Minimum FICO Score: 600
  • Maximum debt-to-value ratio: Not disclosed
  • Maximum debt-to-income ratio: 43%
  • Total Closing Cost: 2% to 6% of the loan amount
  • Equity required: Not disclosed
  • JD Power Satisfaction Rating: Not rated

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  • Offers various types of mortgage loans.

  • Nationwide offers mortgage loans.

  • Helps with closing costs.

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Best for Product Availability

Quick Loan is a nationwide mortgage lender with several mortgage options. Known for customer service, the lender has an A + Better Business Bureau rating and received a rating of five (out of the best) in the 2018 US Primary Mortgage Organization Satisfaction Study.

Highlight:

  • Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
  • Minimum FICO Credit Score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • JD Power Satisfaction Rating: Five out of five

Best counter

  • The complete loan procedure is available online.

  • Wide variety of mortgage products.

  • Good customer service rating.

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mortgage calculator

Is your dream home within reach? US News’ mortgage calculator will show you how much home you can buy.

What are some Utah homebuyer programs?

Utah homebuyers can get favorable mortgage interest rates and these programs can help with payment and closing costs.

  • available to: First time homebuyers with credit scores of 660 or more.
  • Income Range: Different from county (see) Income range).
  • Homebuyers for the first time only ?: Yes.
  • Loan Options: Federal Housing Authority or Veterans Affairs Loan.
  • profit: Usually offers the lowest interest rate.
  • Payment and closing cost assistance: The first loan can be borrowed for 6% down payment and closing costs of the total amount.

  • available to: Homebuyers with a credit score of 660 or more who have a first home or are first time homebuyers who are not eligible for FirstHome.
  • Income Range: Different from county (Revenue Range).
  • Homebuyers for the first time only ?: No.
  • Loan Options: FHA or VA loan.
  • profit: No purchase price limit.
  • Payment and closing cost assistance: The first loan can be borrowed for 6% down payment and closing costs of the total amount.

  • available to: Homebuyers with credit scores of 620 or higher who have overcome past credit challenges.
  • Income Range: Different from county (Revenue Range).
  • Homebuyers for the first time only ?: No.
  • Loan Options: FHA or VA loan.
  • profit: Ownership path for people with previous credit problems.
  • Payment and closing cost assistance: The first loan can be borrowed for 4% down payment and closing costs of the total amount.

  • available to: Homebuyers with credit scores of 700 or more.
  • Income Range: Different from county (Revenue Range).
  • Homebuyers for the first time only ?: No.
  • Loan Options: Traditional.
  • profit: It is usually the lowest mortgage payment because it offers a loan without mortgage insurance.
  • Payment and closing cost assistance: The first loan can be borrowed for 5% down payment and closing costs of the total amount.

Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising clients of US News. Advertising ideas can influence offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.

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