Whether it's for a refinance or new home purchase, you'll need to work with a home mortgages Salt Lake City UT lending specialist when you require financing. If it is your first home, we know how excited you must be, and we'll make the process as quick and painless as possible. If you're looking for a home refinance, you're one of the smart individuals who knows that you can save money by lowering your home mortgage interest rate. We take pride in our ability to assist you with your home financing and invite you to apply for one of the loan programs that are available.
When applying for Salt Lake City home loans, there are three main options that are available. These include conventional, FHA and VA loan programs. Each of these programs has its own advantages and disadvantages. A conventional loan allows you to purchase your home without having to pay any mortgage insurance. However, it takes a larger down payment to do this. FHA loans allow you to buy your dream home with a smaller down payment. The drawback is that you'll pay mortgage insurance with this type of loan. The VA loan program is designed for our veterans. For serving our country in the military, you'll be rewarded with a loan that requires no down payment.
If you're purchasing a new home, this is one of the best times in history to participate. The home mortgage rates Salt Lake City UT lenders are providing are very affordable. Interest rates for your home mortgage will fluctuate. If you have searched for rates, you may have noticed this. Once you lock in a rate, you will have that interest rate to work with throughout the life of your home loan. If you choose the conventional route, you'll need to decide if you would rather have a term that's 15 years or 30 years for your home loan. Our friendly loan consultants can help you decide which is best for your situation.
When you're in the home buying process or refinancing an existing property, we know that your situation is totally unique. We are committed to helping our clients with their home lending needs and look forward to assisting you with this process.