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Utah Mortgage Rates today

Are you looking to settle in the beehive state and wish access to the best mortgage rates today Utah? Look no further than Total Mortgage! We are your trusted team that will help you find suitable funding options. We are dedicated to helping you find the perfect fit for your circumstances. Let our team of experienced professionals as they help you achieve your home-owning or home-funding dream. For first-time home buyers Utah and recurring buyers, we are here to help. If you're interested in down payment assistance Utah, contact us to explore the possibilities.

If you have any questions about securing the best mortgage rates in Utah, please contact us today. We are here to assist you in finding the mortgage rates that best suit your needs.

Compare today's mortgage rates for Utah

The mortgage rates in Utah are 6.500% for a 30-year fixed mortgage and 6.000% for a 15-year fixed mortgage. These rates are effective as of June 23 2024 12:30pm EST.

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6.000% RATE

6.704% APR

$3,038/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.500% RATE

6.965% APR

$2,275/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.000% RATE

7.035% APR

$2,345/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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6.000% RATE

7.471% APR

$2,158/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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5.875% RATE

6.496% APR

$2,156/mo

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Based on the assumed loan amount of $360,000 and 20% down payment

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Latest revision - June 23 2024 12:30pm EST.
We update the table twice every day with the current mortgage rates.

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Frequently Asked Questions

What is the average mortgage rate in Utah?

 

As homebuyers, checking the mortgage rates Utah is crucial. Not only do these determine what percentage of the home costs will have to be borrowed or refinanced in Utah, but they also directly affect overall living expenses for owners there.

What are the current mortgage rates in Utah?

The current mortgage rates Utah page on our website lists the comparative data and is updated twice daily for the reference of our clients.

Where can Utah residents find the best mortgage rates?

Whether you aim for down assistance Utah or Utah first-time home buyer grants, the key to success lies in your attention to all factors. Think in terms of advertised rates and make sure you get a clear picture of some of the less explicit costs before deciding.

Learn More

Utah first-time homebuyer programs

First-Time Homebuyer Assistance Program

Utah Housing Corporation primarily focuses on freshly built homes that are not yet occupied. They offer up to $20,000 to assist with down payments, closing costs, and interest rate reductions for those without property ownership in the past three years. A 0% deferred loan must be repaid upon home sale or refinancing. The following conditions need to be met to get this Utah first-time homebuyer loan:

  • The property can be at most $450,000 in value.
  • One must have resided in Utah for at least a year before closing on the property.

Utah Housing FirstHome and Home Again loans

The Utah Housing FirstHome Loan program aims to assist Utah first-time home buyers with modest earnings, specifically single parents or veterans. The key features are affordable interest rates and low monthly payments.

For households with modest earnings who are unable to qualify for FirstHome loans, Utah Housing offers the Home Again Loan. It can be availed by first-time home buyers and repeat buyers. Both the FirstHome Loan and the Home Again Loan do not require participants to finish homebuyer education sessions.

Applicant requirements:

  • A credit rating no lower than 660
  • A maximum debt-to-income amount based on FHA financing standards
  • Income must remain within Utah Housing limits

Property prerequisites:

  • It must be an owner-occupied detached single-family home, manufactured dwelling approved by FHA, or planned neighborhood development (PUD); an owner-occupied duplex qualifies for the Home Again Loan.
  • For a FirstHome Loan, one acre or smaller (or five acres or less if rural); no land constraints for a Home Again Loan
  • The purchase price for a FirstHome Loan must adhere to Utah Housing limits; there are no purchase price restrictions for a Home Again Loan.

Utah Down payment assistance

Utah Housing Down Payment Assistance

While first-time buyers often struggle with down payments, Utah Housing offers an innovative solution through its dual mortgage program. This loan pairs an affordable first loan with a small secondary down payment assistance Utah option of up to 6% of the home purchase price. Specifically, the second mortgage carries a fixed 1% higher interest rate than the primary over 30 years.

Other Utah Homebuyer Programs

Utah First-Time Homebuyer Law Enforcement Grant

Only law enforcement officers and correctional facilities staff can receive a loan up to 3.5% of the purchase price or $25,000. First-time home buyer Utah requirements include:

  • After getting the loan, you will be required to work for five years with jurisdiction in the state.
  • You are forgiven a part of the grant each year.
  • You can use the money for a down payment or a closing cost, a rate buydown, or to purchase mortgage insurance in advance.
  • Move into the property within 30 days of closing.

Utah First-Time Homebuyer Law

If you are in the military or have moved out of the military in the last five years, you can opt for a $2500 Utah first-time home buyer grant with a zero repayment clause.

FHA Loans

With a credit score 580+, an FHA loan would be a great option for you. These loans wave you through with a deposit of as little as 3.5% of your purchase price.

VA Loans

This is for veterans, active duty personnel, and their qualified spouses. VA loans boast unbeatable benefits! There is no mortgage insurance (MI), zero down payment, and very competitive interest rates.

USDA Loans

You can apply for a USDA loan for a home in a designated rural area. This loan requires zero down payment.



Today's Rates

Mortgage rates are volatile and subject to change without notice. All rates shown are for 30-day rate locks with two and a half points for a single family owner-occupied primary residence with 750 or higher FICO and 80 LTV over a 30-year loan term except where otherwise noted and are subject to mortgage approval with full documentation of income. The APR for a 30-year and 15-year conventional fixed-rate mortgage loans are calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, a $10 flood certification fee, and a $82 credit report fee.* 15-year conventional mortgage rates are calculated with a 15-year loan term.* The APR for jumbo mortgage rates is calculated using a loan amount of $500,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee.* The APR for FHA mortgage rates is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee, and a $82 credit report fee. Some rates and fees may vary by state.* The APR for adjustable rate mortgages (ARMs) is calculated using a loan amount of $360,000, two and a half points, a $495 application fee, $450 appraisal fee, $1,195 underwriting fee, $10 flood certification fee and a $82 credit report fee. Some rates and fees may vary by state. Products are subject to availability on a state-by-state basis. By refinancing your existing loan, your total finance charge may be higher over the life of the loan.