Best Utah Mortgage Lenders | Find the Best Loan for You

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If you’re looking to buy a home in Utah, you’re not alone. With nearly 1.1 million housing units and an above-average homeownership rate of 71% according to the U.S. Census Bureau’s 2018 American Community Survey, Utah is a popular place to call home.

Utah’s median housing value is $303,300, which is well above the national median of $229,700. Home values can vary by region, however, with median home prices in some parts of the state climbing as high as $598,900.

What Are the Mortgage Rates in Utah?

The average interest rate for a 30-year fixed-rate conforming mortgage in Utah is 3.07%.

Home interest rates range from 2.5% to 5.38% in Utah.

What Are Today’s Mortgage Rates?

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







Loan Types

This Week’s Rate

Last Week’s Rate

30-year fixed-rate mortgage 3.05% 3.06%
15-year fixed-rate mortgage 2.55% 2.53%
30-year fixed-rate jumbo mortgage 3.1% 3.12%
5/1 ARM 3.34% 3.33%
5/1 jumbo ARM 3.38% 3.38%

*Rates as of Sep. 11, 2020

U.S. News’ Best Utah Mortgage Lenders

  • Veterans United Home Loans: Best feature: focused service for veterans and service members.

  • Bank of America: Best feature: loans for up to 100% of the appraised value of your home.

  • Caliber Home Loans: Best lender for a first-time homebuyer program.

  • Chase: Best feature: up to $3,000 at closing with the Chase Homebuyer grant and completion of a homebuyer education course.

  • Guild Mortgage: Best lender for loans for up to $3 million.

  • loanDepot: Best lender for fair credit.

  • PrimeLending: Best feature: closing cost assistance program.

  • Quicken Loans: Best lender for approval with a debt-to-income ratio of up to 60%.

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

Best feature: focused service for veterans and service members.

Veterans United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, D.C., and specializes in VA loans. In 2019, Veterans United Home Loans generated the largest number of VA loans in the nation.

Before You Apply

  • Mortgage types: ARMs, conventional, FHA, refinance, USDA and VA
  • Minimum FICO credit score: 660
  • Maximum loan amount: $1.5 million
  • Better Business Bureau rating: A+

Best Features

  • Requires no military service

  • Sets no minimum loan amount

See full profile

Best feature: loans for up to 100% of the appraised value of your home.

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

Lender Highlights

  • Mortgage types: ARMs, conventional, FHA, first-time homebuyer program, home equity lines of credit, refinancing, VA
  • Minimum FICO credit score: 600
  • Maximum loan amount: $5 million
  • Better Business Bureau rating: A+

Best Features

  • Wide variety of mortgages

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

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

See full profile

Best lender for a first-time homebuyer program.

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

Before You Apply

  • Mortgage types: conventional, FHA, jumbo, refinance, USDA and VA
  • Minimum FICO credit score: 580
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A

Best Features

  • Offers a first-time homebuyer program

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

See full profile

Best lender for loans for up to $3 million.

Guild Mortgage, founded in 1960, specializes in home loans and serves borrowers nationwide. The lender’s full suite of products includes conventional and government-backed mortgages and home equity loans.

Before You Apply

  • Mortgage types: ARMs, conventional, FHA, jumbo, manufactured home, refinance, reverse, USDA and VA
  • Minimum FICO credit score: 600
  • Maximum loan amount: varies
  • Better Business Bureau rating: A+

Best Features

  • Receives strong customer service ratings from the Better Business Bureau

  • Offers a broad range of mortgage products

  • Provides special mortgage programs for first-time buyers and manufactured homebuyers

See full profile

Best lender for fair credit.

LoanDepot was established in 2010 and since then has financed more than $70 billion in mortgages. It offers FHA, conventional and other mortgage options. Borrowers may qualify for a loan with a FICO credit score as low as 580.

Highlights:

  • Mortgage types offered: Conventional, FHA, VA, ARM, Refinancing (conventional), Refinancing (FHA), Refinancing (VA), Home equity loans
  • Minimum FICO credit score: 500 with conditions
  • Maximum debt-to-income ratio: 43% for FHA
  • Maximum combined loan-to-value ratio: 90%
  • J.D. Power satisfaction rating: Four out of five

Best Features

  • LoanDepot mortgages have a lifetime guarantee, which means if you ever decide to refinance an existing loanDepot loan, the company will waive the lender fees and reimburse appraisal fees.

See full profile

Best feature: closing cost assistance program.

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

Highlights:

  • Loan types: conventional, FHA, VA, USDA, ARM, refinancing
  • Minimum FICO Score: 600
  • Maximum loan-to-value ratio: not disclosed
  • Maximum debt-to-income ratio: 43%
  • Total closing costs: 2% to 6% of loan amount
  • Equity required: not disclosed
  • J.D. Power Satisfaction rating: not rated

Best Features

  • Offers a wide variety of mortgage loans.

  • Provides mortgage loans nationwide.

  • Helps with closing costs.

See full profile

Best lender for approval with a debt-to-income ratio of up to 60%.

Quicken Loans 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 (among the best) in the 2018 U.S. Primary Mortgage Origination Satisfaction Study.

Highlights:

  • Mortgage types offered: ARM, FHA, VA, Refinancing (FHA), USDA, Conventional, Refinancing (conventional)
  • Minimum FICO credit score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • J.D. Power satisfaction rating: Five out of five

Best Features

  • Complete loan process available online.

  • Wide variety of mortgage products.

  • Good customer service ratings.

See full profile

Mortgage Calculator

Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.

What Are Some Utah Homebuyer Programs?

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

  • Available to: First-time homebuyers with a credit score of 660 or higher.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: Yes.
  • Loan options: Federal Housing Authority or Veterans Affairs loans.
  • Benefit: Typically offers the lowest interest rate.
  • Down payment and closing cost assistance: 6% of the first loan total amount can be borrowed for down payment and closing costs.

  • Available to: Homebuyers with a credit score of 660 or higher who have previously owned a home or are first-time homebuyers who do not qualify for FirstHome.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: No.
  • Loan options: FHA or VA loans.
  • Benefit: No purchase price limit.
  • Down payment and closing cost assistance: 6% of the first loan total amount can be borrowed for down payment and closing costs.

  • Available to: Homebuyers with a credit score of 620 or higher who have recovered from previous credit challenges.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: No.
  • Loan options: FHA or VA loans.
  • Benefit: A path to ownership for those with past credit problems.
  • Down payment and closing cost assistance: 4% of the first loan total amount can be borrowed for down payment and closing costs.

  • Available to: Homebuyers with a credit score of 700 or higher.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: No.
  • Loan options: Conventional.
  • Benefit: Typically has the lowest mortgage payment because it offers a loan without mortgage insurance.
  • Down payment and closing cost assistance: 5% of the first loan total amount can be borrowed for down payment and closing costs.

Advertising Disclosure: Some of the loan offers on this site are from companies
who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about and how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.



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