Conventional

Better interest rates, better loan terms—usually resulting in a lower monthly payment. Now, whats boring about that?

Conventional

Better interest rates, better loan terms—usually resulting in a lower monthly payment. Now, whats boring about that?

Conventional Loan Benefits

For those who meet the requirements, a conventional loan can be a great option.

Always talk with one of our experts to help you decide the best option for you.

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Range of down payment options

Utah Mortgage offers conventional loan programs with down payment options as low as 5%, 3% and even 1% down.

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Most competitive mortgage rates

Good credit requirements for conventional loans offers you lower rates when compared to FHA loans.

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Eliminate mortgage insurance with a 20% down payment

With conventional loans, a 20% down payment will allow the option for removal of mortgage insurance.

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No MIP at closing

FHA loans come with mortgage insurance premiums (MIP) that are built in over the course of the loan. When you close, there’s also a one-time upfront mortgage insurance premium due – currently 2.25% of the total loan amount. Conventional loans do not require this upfront premium.

Fixed Or Adjustable

Most loans can be financed at a fixed or adjustable rate. Each type has its advantages and disadvantages. Both are great options depending on what your looking for in your home financing needs.

Fixed Rate Most Popular

A fixed-rate loan has an interest rate that never changes for the life of the loan.

Ready to take root

If you plan on remaining in your home for a long period of time, a fixed-rate mortgage might be the option for you.

Peace of mind

Sleep better knowing that your interest rate and mortgage payment cannot change.

Adjustable Rate (ARM)

An adjustable-rate mortgage (ARM), the interest rate may go up or down over the life of the loan.

On the move

If you're only going to own your home for a set period of time, an adjustable-rate mortgage might be the option for you.

Lower inital

Decrease your monthly payments by taking advantage of the lowest available interest rate.