Find my Utah mortgage interest rate
Confidently start your journey to owning a home in the Beehive State. If you want to buy a condo in Provo or a home in Salt Lake City, knowing Utah mortgage rates is important. Understanding the local mortgage market can help you find options that make sense for your budget and lifestyle.
Available Utah homebuyer programs*
The Utah Housing Corporation offers programs for first-time and repeat homebuyers. These include government-backed loans and regular purchase loans. It also provides options for down payment assistance for all programs.
FirstHome Loan
This program designed for first-time homebuyers offers 30-year fixed-rate mortgages to homebuyers with qualifying credit scores. Income and purchase price limits apply.
First–Time Homebuyer Program Assistance (New Construction)
Funded with $50 million from the state Legislature, this program is designed to help about 2,500 homebuyers. Borrowers may get up to $20,000 to use for down payment options, closing costs and even rate buydown options.
Down Payment and Closing Cost Assistance Loan
Utah Housing Corporation provides a second mortgage loan. The down payment and closing cost assistance is up to 6% of the first mortgage amount, not to exceed $27,500. It helps with down payment options or closing costs for any of its loan programs.
How to find an affordable mortgage rate in Utah
Your final mortgage rate for your dream home in Utah will depend on your credit score and history of managing debt. However, there are several ways you can improve your chances of securing an affordable mortgage interest rate.
Improve your credit score
Pay down credit cards and pay bills on time.
Make larger down payment
A larger down payment reduces the loan-to-value ratio, which could translate into a lower interest rate.
Keep your debt-to-income ratio low
A lower DTI makes you less risky to lenders, which can help you secure a better mortgage interest rate.
Are you ready to lock in your mortgage rate in Utah?
Apply now and quickly see what you qualify for.
*Income limits and eligibility requirements apply. This program is made available by FirstHome Loan, First–Time Homebuyer Program Assistance (New Construction) and Down Payment and Closing Cost Assistance Loan, and not Rate.
This is NOT a mortgage loan approval or commitment to lend. The actual fees, costs, and monthly payment on your specific loan transaction may vary, and may include city, county, or other additional fees and costs.
Mortgage rates are offered exclusively through Rate, Inc. and are subject to change without notice. The payment amount does not include homeowners' insurance, flood insurance (if applicable), or property taxes that must be paid in addition to your loan payment. The displayed Annual Percentage Rate (APR) is a measure of the cost to borrow money expressed as a yearly percentage. For mortgage loans, excluding home equity lines of credit, it includes the interest rate plus other charges or fees (such as mortgage insurance, discount points, and origination charges). These mortgage rates are based upon a variety of assumptions and conditions, which include a consumer credit score that may be higher or lower than your individual credit score. Your loan's interest rate will depend upon the specific characteristics of your loan transaction and your credit history up to the time of closing. Refinancing may cause finance charges to be higher over the life of the loan.
Rate, Inc. has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the Nevada Department of Veterans Services, the US Department of Agriculture, or any other government agency.
https://utahhousingcorp.org/homebuyer/participatinglenders/
https://utahhousingcorp.org/pdf/Form306.pdf