Utah Mortgage Rates

March 27, 2015 06:15 AM Eastern

Refinance rates now in SALT LAKE CITY, UT [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed Rates as low as

Interest Rate
3.500%
APR
3.674%
Monthly Payment
$899
Capital One
Interest Rate
3.500%
APR
3.674%
Monthly Payment
$899
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $4,262
Lender Credit $0
Total Closing Fees* $4,262
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings—we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process—one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too—you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.

15 Year Fixed Rates as low as

Interest Rate
3.000%
APR
3.145%
Monthly Payment
$1,382
Capital One
Interest Rate
3.000%
APR
3.145%
Monthly Payment
$1,382
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $1,382
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,382
Lender Fees $2,012
Lender Credit $0
Total Closing Fees* $2,012
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings—we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process—one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too—you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.

5 Year ARM Rates as low as

Interest Rate
2.750%
APR
2.995%
Monthly Payment
$817
Capital One
Interest Rate
2.750%
APR
2.995%
Monthly Payment
$817
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $817
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $817
Lender Fees $2,762
Lender Credit $0
Total Closing Fees* $2,762
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings—we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process—one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too—you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

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Unique Loan Programs and Resources Using UT Mortgage Rates
Even before Utah gained worldwide attention by hosting the 2002 Winter Olympics, it was well-known for its beautiful wilderness areas. Utah's natural environment provides great skiing, camping, hiking and fishing against a backdrop of rugged terrain and unique geography.

Are you living in Utah and thinking of moving into a new home? Are you attracted to the great outdoors and considering a move to this great state? Regardless of your situation, unique programs will allow you to take advantage of current Utah mortgage rates, save your home from foreclosure, or save up for down payment on a house.

Utah Mortgage Rates and the Olene Walker Housing Loan Fund Program
The Olene Walker Housing Loan Fund (OWHLF) is a program designed to help Utah residents and families who need funds to get into a home. This fund was developed to assist people who fall into the following categories:

• developmentally disabled people
• first-time homebuyers
• homeless people
• low-income families
• Native Americans
• physically disabled people
• residents with special needs
• victims of abuse

Although the OWHLF sets its own lending rates, they are based in part on the current Utah mortgage rates. Payments made on OWHLF loans go right back into the general fund to help others.

Foreclosure Prevention with Current UT Mortgage Rates
The Utah Foreclosure Prevention Project is a state-sponsored program that is designed to keep UT residents out of foreclosure. The program includes education on the steps you can take to avoid foreclosure, including refinancing your home loan at current Utah mortgage rates.

Housing counseling services are available through the project that can help you understand the steps involved. Understanding how to work with your lenders is a key part in the process of preventing foreclosure. The counseling service offered through the Utah Foreclosure Prevention Project can teach you what information your lenders will need from you.

Utah Individual Development Accounts and Getting a Loan with UT Mortgage Interest Rates
The Individual Development Account (IDA) Program was designed to help Utah residents to save up for a down payment and get into a home. This program allows low-income families to save money and learn about making wise investments.

In order to participate in the program, you must meet certain income requirements and complete financial education training. Once the training is complete, participants choose an asset in which they’d like to invest. Other than home ownership, some of their investment goals may include:

• furthering their education
• securing job training
• obtaining purpose-specific technology
• owning a small business

By using an IDA, you can save for one of these assets and get money back from the program. The program matches your savings 3-to-1 as long as you continue adding money to your account. This program is just one of the unique features open to Utah residents who want to get loans and learn to take advantage of UT mortgage interest rates.