Utah Mortgage and Refinance Rates

As of Friday, July 23, 2021, current rates in Utah are 3.05% for a 30-year fixed, and 2.32% for a 15-year fixed.

Bankrate has offers for Utah mortgage and refinances from top partners that are well below the national average. Compare, apply, and start saving today.

About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our "Advertisers"). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a "Next" button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

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Loans Above $548,250 May Have Different Loan Terms: If you are seeking a loan for more than $548,250, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

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Utah mortgage overview

By Dhara Singh

In Utah, all mortgage lenders and brokers are regulated by the Utah Division of Real Estate. The agency’s website can be a good starting point when looking for a licensed and reputable lender or broker. There are more than 200 residential mortgage lenders, brokers and servicers operating in the state.

First-time homebuyer programs in Utah

Utah Housing Corporation offers several programs designed to assigned to assist low- and moderate-income first-time homebuyers:

  • FirstHome: The FirstHome mortgage was created for first-time buyers who have a credit score of 660 or better. There are income and purchase price limits associated with this program based on family size and where in the state the purchase property is located.
  • HomeAgain: For first-time homebuyers who don’t want to be restricted by purchase price guidelines, the HomeAgain mortgage may be an option. In order to be eligible, buyers must have a credit score of 660 or higher. While the program doesn’t have purchase price limits, it does include an annual income limit in order to qualify. Similar to the FirstHome loan, income limits vary based on family size.
  • Score: If you have a history of credit challenges, there’s a first-time homebuyer loan program specifically for you in Utah. The Score mortgage program provides financing for those who have a less than stellar financial background but now have a credit score of 620 or more. Like other mortgage programs from Utah Housing Corporation, there are purchase and income limits that must be met in order to qualify, and those limits vary by family size and property location.
  • NoMI: For homebuyers who have a credit score of 700 or better, the NoMI loan is yet another option. The key point to remember about this program is that it typically provides the lowest monthly mortgage payment. That’s because it offers loans that do not require mortgage insurance, which is an added monthly cost. Also, noteworthy, this program does not have purchase price limits for participants, but it does include annual income limits.

Utah mortgage refinancing

Utah Housing Corporation also offers mortgage refinancing options. The Streamline Refinance program is administered through agency-approved lenders, and its requirements include being employed at the time of closing; the refinanced payment being at least 5 percent less than your current payment; and not having more than one payment that was 30 days late.

When considering a refinance, it’s also important to remember that you do not have to use the same lender you did the first time around. Do your homework, shop around and make sure you’re getting the most competitive rate and loan terms possible.

Utah mortgage resources