Utah Mortgage Rates

May 26, 2016 02:49 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

Interest Rate
3.250%
APR
3.408%
Monthly Payment
$871
Loans by Lewis, LLC
30 Year Fixed
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NMLS: 1321436
Interest Rate
3.250%
APR
3.408%
Monthly Payment
$871
(855) 980-0200 Contact
Loans by Lewis, LLC
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $871
Lender Fees $3,916
Lender Credit $0
Total Closing Fees* $3,916
*Other 3rd party fees may apply
Loans by Lewis, LLC
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About the Lender

LOANS BY LEWIS LLC is a Mortgage Lender that has a philosophy of working as a team. When you work with any individual of the company you have the entire company working together from start to finish to ensure you have the best possible experience. We specialize in Conventional, FHA, VA, USDA home loan financing. We have low overhead that allows us to offer better rates and fees all while not sacrificing customer service. We look forward to helping you if this is your first or last home loan purchase or refinance.
Loans by Lewis, LLC
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Lender Reviews

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15 Year Fixed

Interest Rate
2.500%
APR
2.668%
Monthly Payment
$1,334
Loans by Lewis, LLC
15 Year Fixed
Be the first to write a review.
NMLS: 1321436
Interest Rate
2.500%
APR
2.668%
Monthly Payment
$1,334
(855) 980-0200 Contact
Loans by Lewis, LLC
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,334
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,334
Lender Fees $2,356
Lender Credit $0
Total Closing Fees* $2,356
*Other 3rd party fees may apply
Loans by Lewis, LLC
Email Lender

About the Lender

LOANS BY LEWIS LLC is a Mortgage Lender that has a philosophy of working as a team. When you work with any individual of the company you have the entire company working together from start to finish to ensure you have the best possible experience. We specialize in Conventional, FHA, VA, USDA home loan financing. We have low overhead that allows us to offer better rates and fees all while not sacrificing customer service. We look forward to helping you if this is your first or last home loan purchase or refinance.
Loans by Lewis, LLC
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Lender Reviews

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Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.809%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $830
Lender Credit $0
Total Closing Fees* $830
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
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About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
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Lender Reviews

Consumer Direct Mortgage review

Yes, I recommend this lender

Best financing experience ever! My compliments to three individuals in particular, Stephen Spivey, Kimberly Sourant and Magen Dwojak. I could not be more pleased with the level of professionalism and promptness displayed by these individuals and their whole team. Great Product, great interest rate and great people!

By: Rick (Eureka, MO)

Happy with my Refinance

Yes, I recommend this lender

I was in need of a mortgage refinance and went on line to Lending Tree in order to get responses from multiple mortgage companies. ConsumerDirect Mortgage was one of the respondents. They had the most competitive rates and their closing cost were better than most as well. They were an excellent team of mortgage professionals led by Bill Hutto. if I am ever in need of another mortgage in the future I will certainly contact ConsumerDirect.

By: Bryan (Conway, SC)

Easiest Mortgage Ever

Yes, I recommend this lender

I worked with Phil Blasi Nate Piccone and Kate Janousek. Phil was invaluable with all the help he gave me. He was available day or night and encouraged questions and contact. I felt like he was there for me. Nate helped to complete all the docs and make sure the package was complete before it went to closing and was also available whenever needed, day or night. Kate handled the final wrap up and closing and wrapped it up quickly. The money was available immediately after the closing papers were faxed in and my lawyer and title agent remarked that it was one of the easiest closings that they had done. All in all, it was the best mortgage experience out of the eight or more that I have done.

By: WilliamNash (Pompano Beach, FL)
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5/1 ARM

Interest Rate
2.500%
APR
3.429%
Monthly Payment
$791
Loans by Lewis, LLC
5/1 ARM
Be the first to write a review.
NMLS: 1321436
Interest Rate
2.500%
APR
3.429%
Monthly Payment
$791
(855) 980-0200 Contact
Loans by Lewis, LLC
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $791
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $791
Lender Fees $4,410
Lender Credit $0
Total Closing Fees* $4,410
*Other 3rd party fees may apply
Loans by Lewis, LLC
Email Lender

About the Lender

LOANS BY LEWIS LLC is a Mortgage Lender that has a philosophy of working as a team. When you work with any individual of the company you have the entire company working together from start to finish to ensure you have the best possible experience. We specialize in Conventional, FHA, VA, USDA home loan financing. We have low overhead that allows us to offer better rates and fees all while not sacrificing customer service. We look forward to helping you if this is your first or last home loan purchase or refinance.
Loans by Lewis, LLC
Email Lender Write a Review

Lender Reviews

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Capital One
5/1 ARM
Interest Rate
2.625%
APR
3.417%
Monthly Payment
$804
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 $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $3,225
Lender Credit $0
Total Closing Fees* $3,225
*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.
Capital One
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Lender Reviews

Eugena Carpio review

Yes, I recommend this lender

They were bery good as aloan company keep lower rates and I was very satisfied

By: EugeneCarpio (Las Vegas, NV)

Review

Yes, I recommend this lender

Experienced and knowledgeable staff.

By: Cathleen (Santa Fe, NM)

Frustrating Loan Hub Experience

I tried using this lender in late 2015. It was a terrible experience. We struggled through this from August to October. I was told that the paperwork process would be easy as Capital One Home Loans uses online technology (Loan Hub) to communicate with the customer. I was told I could upload all of our required documents via a secure site. We tried on three different occasions to upload our documents, but only some of them appeared on the website. We were told that some documents were missing, even after we received confirmation that the documents were received. The online process was not being updated by the company, so we did not know at times where we were in the refi process. The initial customer rep took my preliminary info and then I was sent to another rep who rarely answered my emails or answered with no suggestions to help us. When I told him that the site would not let us upload documents or failed to show that our documents were uploaded, he told me to contact customer service. When I called the number he provided, the customer rep did not know what I was talking about and said he was not familiar with the new Capital One Home Loans website. I truly never had a more frustrating experience and I do not like to write negative reviews, but I must state my frustration with this company. We were made to feel as though once they had our business (we were submitting all required documents) that we were nothing to them. Because this company seemed to lack customer service and someone who could take the time to explain why the electronic document process was so tedious, I had to withdrawal my request for a refi.

By: Dave (Philadelphia, PA)
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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.

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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.