Welcome to the Beehive State!  It is our goal to make sure that citizens in the market for a Utah mortgage loan are able to easily access and understand all of the great products and loan terms that are available today.  The market is constantly changing, sometimes adding new mortgage loan programs and sometimes taking them away.  When you save UtahRates.net to your “favorites” you will be able to come back again and again to make sure that you are going to be working with a Utah mortgage lender that knows how to help you, and does so with both integrity and low Utah mortgage rates.

Utah Mortgage Qualifying
Are you aware of the criteria that will be used to determine your ability to qualify?  Your debt-to-income ratio (DTI) is as important a factor as any.  Your Utah mortgage lender will look at how much monthly debt it is that you carry.  If you would like to calculate your own debt-to-income ratio, simply take your current monthly income (that you can verify) and divide that by your current monthly debt obligations plus your proposed monthly mortgage payment.  If this ratio is over 38%, then you may still qualify, but it is not a sure thing.  With other compensating factors, such as a high credit score, or a large down payment, your DTI ratio can be as high as 50%.  We would caution you to analyze your budget for yourself.  Even though you may qualify for a Utah mortgage loan, will you be able to live the way you want to live, or be able to survive in an emergency or market crisis? 

Talk candidly with whomever you are partnering with on the mortgage.  Make sure that everyone agrees that you can afford the loan.  In the case of a refinance, perhaps a Utah home equity loan is better suited for your needs.  Utah home equity loans still have mortgage rates that are quite good.  Do not make a decision in a rush.  It is important to take your time and crunch all of the numbers that you have to in order to make sure that you are making the right decision.  At the end of the day, it is your choice, but use your consultant to ask questions and learn about the various features of each option.  This is the one of the biggest loans that you will ever take out, so it deserves the respect of time.  Luckily, we can save you a lot of it and get you a low Utah mortgage rate, however you still must look at the bottom line dollar figure and make a decision based on that.  Simply click below to get started right away!