Welcome to Utah Mortgage and Loan
Where our mission is to personally connect you to the best lenders and brokers. We want you to know that you are in good hands. In fact, you have already been given your own personal loan officer to help you with all your lending needs! Want more? How about user-friendly calculators, informative articles and tips that will save you time and money, and when you are already to apply, we have a simple and quick application form.
Whether you have a good or bad credit history, you will be given every opportunity to receive the best financing option available. Even if you had problems in the past, rates are so low that you could a still qualify for a great rate.
> I was a little skeptical when I read on your website that I could refinance my home without requalifying, but that's exactly what happened. The process was extremely easy and hassle free. My rate went from 7.25% (which I thought was pretty good) to only 5.75%. This will save me $80 per month. The closing costs were extremely small compared to all of the other places I checked out and they were also included in my loan, so I didn't have to come up with any money out of pocket. It was perfect! Thanks again for all of your help and for taking the time to answer all of my questions. I would highly recommend your services to anyone. James Scott
> Our interest rate went down from 8.5% fixed to 4.5% variable and lowered our monthly payments by $370 a month! Thank you so much! Jeff and Julie Emmer
> The FHA Streamline refinance you did for us reduced our interest rate from 7.25% fixed to 4.5% variable, lowering our payments by $244 a month! It's been so nice to have that extra money every month! Gabrielle Beckstrom
Hours: 10am-6pm Mon.-Fri. MST
Phone: (877) 511-8811
Fax: (866) 897-2452
Adjustable vs. Fixed Rates
Did you know that the average length of home ownership in the US is only six years? This means that over the course of 30 years, the average person will have 5 separate mortgages!
With this in mind, and with interest rates at all time lows, there has been an emerging refinancing trend toward adjustable rate loans. Since adjustable rate loans are usually most advantageous in the short term (3-5 years), and since the average length of home ownership is only 6 years, adjustable rate loans are a smart strategic move at this point in time.
On the other hand, if you are planning to live in your present home for the next 30 years, or if you are risk adverse, you may want to consider a fixed rate mortgage, but keep in mind that even refinancing an existing fixed rate mortgage by as little as 0.5% can literally save you thousands of dollars over the life of your loan.