Utah Mortgages

With interest rates still at all time lows, now is a great time to purchase a Utah adjustable rate mortgage (ARM) or a Utah interest only mortgage. Both of these loan products are both great choices because they offer the lowest interest rates and monthly payment options available. Utah adjustable rate mortgages and Utah interest only loans both offer low introductory interest rates for a designated fixed term and then adjust thereafter. Both loans are tied to an economic index and margin. It is always good to understand the terms of your loan and to discuss the index and margin with a loan representative. Utah adjustable rate mortgages and Utah interest only mortgages are good options for short-term buyers, as the rate will periodically change and the market has the ability to change considerably over time.

If stability makes you more comfortable, a Utah Fixed Rate Mortgage may be a better choice for you. Utah Fixed Rate Mortgages often carry slightly higher premiums (in the form of an interest rate) than Utah adjustable rate mortgages (ARMs), but your interest rate and monthly payments are fixed for the entire term of the loan. The most common Utah fixed rate mortgage terms are 30 years, 20 years, or 15 years (other term options exist). Utah fixed rate mortgages are a sound investment considering the recent increases in interest rates.

Call today to speak to a representative about your options for a Utah mortgage 1-877-673-3282.