Home Buyers in Utah

12 Proven Tips for First Time Home Buyers in Utah

Buying your first home in Utah can feel exciting. But I know that it’s such an overwhelming experience at the same time! This is because of the many decisions you’ll be faced with, particularly financial decisions. For instance, choosing the right Real Estate Agent, or Mortgage Lender is not as easy as it may seem to be. With that being said, it’s important first-time homebuyers in Utah to understand these tips to help them to make the right decisions.

Here are 12 tips for first-time homebuyers in Utah:

1. Start Saving for a down payment

Some first-time homebuyer programs in Utah require that you pay a certain percentage as the down payment. No matter how small this percentage may seem, you ought to have started saving for a down payment like yesterday! Don’t wait until it is too late. You can set up automatic withdraws from every paycheck and put it into a down payment savings account. 

2. Explore your options

 Unfortunately, some first-time home buyers tend to go with the first option that they come across without finding out what other Lenders are offering. You’d be surprised to find out how much money you could have saved if you had taken the time to study the different lenders and loan programs, they might be able to offer you! Do your homework before deciding.

3. Local Assistance Programs

Apart from the state-level down payment assistance programs, there are several different local assistance programs you could choose from. For first time buyers, these first-time home buyers’ programs feature different perks. Some include down payment assistance, closing cost assistance, tax credit assistance, and discounted interest rates. These assistance programs feature significant savings for first-time homebuyer. Hop on online & see what some of your local options are!

4. Find out how much you can afford

Home buying is exciting, especially when you have so many options and benefits to choose from to help you get into your dream home. Before the emotions carry you away, it would be smart to determine how much you can afford. What amount can you safely afford to repay? Don’t forget that if you don’t repay the full amount, you may lose the property to the lenders. Speak to a loan officer to find out more about how much home you can afford.

5. Take the time to improve your credit scores

When you are applying for a mortgage loan, your credit score is one of the key factors the lender will use to determine if you’re going to honor your loan terms. Now knowing this, I’d recommend you take the time to work on improving your score before submitting a loan application. Maybe loan programs require a minimum credit score to qualify. You can get one free credit report a year from annualcreditreport.com to explore the health of your credit score.

6. Minimize your debts

At this time, you are preparing to borrow a large sum of money to finance a major investment, which is your home. Therefore, it is not the best time to start borrowing to finance other things. Pay down your balances on your credit cards and loans to lower your debts. Lenders take a look at all of your ongoing monthly expenses to determine if you can afford the mortgage. Do your best to minimize your expenses to qualify for more house.

7. Compare your mortgage options

Don’t just assume the first Lender is going to give you the best loan. Search it out, do your homework. Google is your friend. I recommend reading the reviews & ratings. You can always call lenders and ask questions if you are unsure of who to trust. It’s a big investment. Make sure you find the best value and the best service around.

8. Get Pre-Approved for a loan

After you’ve chosen a lender, they’ll request some of your financial documents. Things like Bank Statements, Tax Returns, Paystubs, & a Government Issued ID. They’ll also run a Credit check & use that to help determine how much you can afford. Once they’ve looked through all that information, they’ll write a letter of pre-approval saying how much you can spend. Then you & your Realtor are good to go house hunting!  

9. Minimize Existing Debts

It’s not the best time to start borrowing to finance other projects that can wait. For instance, if you need to purchase a car, this is not the time to withdraw your savings to finance car purchases. Delay other investments and don’t finance or charge anything until after you have closed and funded on your home.

10. Compare Mortgage Rates

Don’t just assume the first Lender is going to give you the best deal. Search it out and do your homework. Compare a few lenders and pricing options. Google is your friend, we recommend reading the reviews & ratings.

11. Get Pre-Approved

After you’ve chosen a lender, they’ll request some of your financial documents. Things like bank statements, tax returns, paystubs, & a government issued ID. They’ll also run a credit check & use that to help determine how much you can afford. Once they’ve looked through all that information, they’ll write a letter of pre-approval saying how much you can spend. Then you & your realtor are good to go house hunting!  

12. Make an offer and prepare for closing

The offer should be based on the amount you qualified for, and on the first-time homebuyer programs in Utah, you so cleverly found and applied for. I’d make sure you have a good realtor to help with the closing part, as there are a lot of important & confusing documents that can go over your head! They’ll know how to negotiate & navigate these waters. If you have a good agent, it’ll be smooth sailing & you won’t need to worry!

 

With the above tips in mind, you’re ready to get your house hunt on! Especially with the best deals for first time home buyers in Utah. Remember there are different Utah housing down payment assistance programs, so even if you’re not in the best financial position, there are options for you! As well as others to just help save money. Good luck out there, & remember… Have fun! House shopping Is an exciting time in your life.

Mortgage Lenders

A Guide on How to hire best mortgage lenders in Utah

Whether you are planning to buy a home or build a rental apartment in Utah, it’s going to be in your best interest to find a Mortgage Lender that’s going to get you the best bang for your buck. Making choosing the best mortgage lenders in Utah an Important decision.

When you’re finally ready to buy a home, or an investment property, don’t base the decision merely on interest rates like many mortgage borrowers have done in the past. You’d be surprised by how much more goes into it then just rates alone.

In this post, we take a look at some of the best tips for finding the best mortgage lenders in Utah. Here are some of those important tips to help you in choose your mortgage lender:

1. Tighten your finances

Mortgage lenders in Utah will consider various aspects regarding your personal finances in order to decide whether you can afford to pay off the loan or not. Before you start to approach Mortgage lenders, start by working on your personal finances. Here is a breakdown of the aspects you need to put into consideration regarding your personal finances.

Check your credit score:

The credit score informs the lenders how quick you are with paying your bills. They want to know you’re going to honor your commitment & pay them back. With this being said, I’d strongly recommend having a healthy credit score before going in & applying for loans. It’ll just be all the more reason why they should approve you for a loan!

Pay off other debts: 

Do you have outstanding expensive debts? If yes, I’d strongly recommend you pay off those debts to decrease your debt to income ratio. It’s not impossible to get a loan if you’re in debt already, so don’t be discouraged! There are so many different loan types out there for all kinds of situations, it just greatly helps if you have little to no debt to work with.

Start building your savings account:

Most people know by now that it’s industry standard to put 20% down when it comes to home buying. There are loans that only require as little as 3% down, but then factor in closing costs & appraisal of the home & things start to add up real fast. I’d recommend putting some cash away so you can be prepared for that!

By working on the above tips, your personal finances should improve. Now let’s look at some other tips that’ll help you get into your dream home!

2. Understand the different mortgage loan types

When it comes to choosing a mortgage lender in Utah, you need to consider the different kinds of loans they offer. Here’s an overview of the different loans offered by the best mortgage lenders in Utah:

  • Conventional Mortgage: this is a loan that is backed by either Fannie Mae or Freddie Mac. The conventional home mortgage can be used to finance residential or commercial properties.
  • The FHA Loan: This loan is backed by the Federal Housing Administration, & features more flexible terms. It’s a great option for first time home buyers or those who can only afford a low-down payment.
  • Reverse Home Mortgage: If you’re 62 or older, and you have home equity built up in a home, the bank can pay you! The reverse home mortgage requires no monthly repayments, & let’s you deplete the equity in your home so long as you remain in the property till you pass away or move. It’s an excellent option for seniors who need to supplement some Retirement money.
  • USDA Home Loans: Also, a great low-down payment loan option. The USDA home loan is a federal program that is designed to encourage investments in the low populated towns.
  • The VA Loans: This is a Veterans Administration Insured loan and it is available to the members of the Armed Forces. This mortgage loan allows up to 103% financing to the veterans.

With a better understanding of the above mortgage types, you can choose the mortgage lenders that offer the specific mortgage type you are looking to apply for. Remember that each of the loan types feature some advantages or attractive terms making it an ideal product for you but may also have some catches or things you simply just need to plan for before getting that loan type. Quick Example, for an FHA loan that only requires a 3% down payment, you will have to pay Private Mortgage Insurance in your monthly bill to insure the Mortgage Lenders get paid, BUT, you can always refinance 6 to 9 months down the road once a little equity is built up to get rid of that Private Mortgage Insurance. Just some things to keep in mind!

3. Compare the interest rates

Avoid the temptation of choosing the first mortgage lender you come across. Instead, find out what other mortgage lenders offer and come up with a list of the interest rates that they are charging. Go ahead and shop around for mortgage lenders offering the lowest interest rates. While considering the interest rates, don’t forget that different mortgage types come with different terms and interest rates. For instance, a VA loan has a lower interest rate compared to the conventional home mortgage.

4. Get Competing Pre-Approvals

For each mortgage lender that you investigate, try to get pre-approved by them so you can compare which lender will give you the most bang for your buck. The pre-approval involves performing a credit check and running various financial information to see if your debt to income ratio is “healthy” or safe enough to lend on.

By gathering all this information, you should now be in a great position to choose the best mortgage lenders in Utah!

A Ten Step Tutorial for First Time Home Buyers to Apply for Housing Loan in Utah:

It’s a difficult task to buy a home for the first time home buyers as they are not aware of so many aspects. But if you do your homework in the right manner, you’ll definitely find the best home for yourself at the affordable prices. The biggest surprise for most of the first time buyers who are applying for housing loan in Utah is that they tend to make some big mistake while not paying attention to the steps. So here is a Ten Step tutorial for them:

Step 1: Check your financial Health.

Before searching for a home and falling in love with it, make sure to audit your financial health. Firstly, check your savings as it will decide whether you can bare living expenses or not. Invest according to your savings. Secondly, decide how much you want to spend on your new home. This will tell you about the Utah housing loan and its amount. To know how and where you can get the Utah home Mortgage, try to research well.

Step 2: Find the benefits for First-Time Buyers.

Before you mix a meeting with Utah Mortgage lenders, it’s important to check the benefits and deals. There are many different special programs like rural home loans in Utah, which are defined for specific homes and makes it easy for you to buy a property. Also, this step will help you to make your shopping affordable. So take this kind of information when you start looking for a mortgage.

Step 3: Have a meeting with Lenders.

Many fake lenders will not spend time with their clients and not specify the amount they want to spend. However, this having a meeting can make a big difference. And the seller or property owner will not accept any offer if you haven’t got the mortgage pre-approval.

The lender will check your credit score and amount you want to buy the property. They will discuss all the assets, tax, and debt related to the selected program and guide you with the same. Always do your research online so that you already know about the lender and the programs they offer. The best part is that you can also concern Sun American Mortgage, as they are one the prominent St. George mortgage lenders.

Step 4: Shop around for a Mortgage.

Never bound by loyalty when you are looking for the pre-approval for a mortgage. The fees in each case vary because each buyer is different and they have different requirements. However, when you find the best deal, get the St. George Mortgage approved as soon as possible.

Step 5: Always Have a Back-Up lender.

It’s not necessary that your loan will get approved by a lender, therefore always have a back-up lender. Every lender and their programs have different underwriting guidelines, and you may not match the same. So having a second lender will always work and improve the chances of getting a loan. But, before choosing the alternative, make sure to check their requirements properly and try to fit in that.

Step 6: Look for a genuine Real Estate Agent.

When you get sure about your spending as per the home loan, it’s time to find a real estate agent for yourself. Look for someone who has better experience and team. Also, check its reviews to be sure about the choice. The services and commission also play a major role. Even s/he should have access to a particular area where you want to buy your first home.

Step 7: Decide the Neighbourhood and place.

Whenever you are looking for an ideal home, the location and neighbourhood play a major role. But keep an open mind as you have to select from many houses in different locations. And if you are not satisfied with the neighbourhood then don’t go for it. This will put you in various problems related to finance and mental health. So, always check your budget and monthly spending before getting your first home.

Step 8: Check your Budget again.

Before making a final offer for your home, make sure to check your budget. This time it is more important as you are going to close the deal. Keep the factors like closing costs, shifting expenses, repairing, and appliances in mind. Also, never ignore the hidden costs like home insurance, taxes, homeowners associated fees and more before making a deal. The St. George home loan should cover most of your requirements as you might not be in the condition to bare some extra costs.

Step 9: Check the Utility Bills.

If you are a first-time homeowner, then you must be shifting from a rental home to a new home. And there, the energy and water bills are comparatively lower. So, whenever you are getting the new home, keep the utilities such as electricity, gas, oil, water in mind. Calculate the average of 12 months or check the fast bills of the neighbourhood. Audit it in the perfect way as you might not want to spend more than your budget.

Step 10: Don’t forget the Home inspection.

Now, when you have got the home, check whether your home requires some repair work or not. If yes, then calculate its cost. This is an important point as the overall after cost will depend on it.

Bottom Line:

Buying your first home is one of the biggest financial decision on your life, it is hard to do so without getting the home mortgage. So always check for the best St. George home loan and save more money on the payments. If you are buying the home in a rural area, then Rural Housing loan Utah can get you the highest benefits. We hope this First Time Home Buyers tutorial to Apply for Housing Loan in Utah has helped you out.

The Beginner’s Guide to Have USDA Home Mortgage:

USDA Home Mortgage is a zero down payment loan for rural areas and residential home buyers. It is issued through the USDA loan program, famously known as USDA Rural Development Guaranteed Housing Loan Program. This program was implemented by the US Department of Agriculture, and till now it has helped about 130,000 families to buy their own home. The major goal of USDA Rural housing loan Utah is to ‘improve the economy and quality of life in Rural America’. The residence finds this USDA loan Utah accessible because the low-interest rates and no down payments are involved in it.

Now the question comes, is the USDA loan is right for you or not? So here is how this program works and who is qualified for it:

How does the USDA home loan program work?

There are three major types of USDA home loan programs from which you can choose:

Loan Guarantees: Loan Guarantees USDA home mortgage is issued by a participating local leader who allows you to get a loan at a low-interest rate and no down payment.

Direct Loans: Direct Loan is issued by the USDA and are applicable for someone with low income. This income thresholds vary from region to region. As subsidies are involved in it, the interest rates go as low as 1%.

Home Improvement loans and grants: Home improvement loans and grants permit homeowners to complete the repair work or upgrade their existing home. Its packages are a combination of loans and grant.

Why Choose USDA Rural Home loan?

The major reasons to choose this home loan are:

  • To buy your home in a rural area.
  • Zero down payment is involved in it.
  • The low monthly mortgage insurance is involved in it.
  • It has low closing costs.
  • It is associated with properties in specific rural areas.
  • Flexible qualification guidelines.
  • Up to 103.5% appraisal value.
  • Low rate monthly MI is involved with up-front guarantee premium.
  • Maximum income requirement depends on the country you live in.

How to qualify USDA Mortgage requirements?

When someone wants to qualify the USDA mortgage requirements, it becomes quite important to know the loan guarantee income limit. The Limit of qualification varies by location and household size.

USDA rural housing loan in Utah depends on the owner-occupied primary residences. Here some other eligibility requirements that one should know:

  • It’s compulsory to own a permanent residency or US citizenship.
  • The monthly payment, including taxes, principal, insurance, and interest, should be 29% less of your income. Additionally, you can’t exceed your monthly debt payments more than 41% of your monthly income.
  • It’s necessary to have a dependable income.
  • Appropriate credit history is necessary, where the credit score requirement is 640 or more.

How does USDA Home mortgage works?

To fulfil the requirements of a needy, the USDA is only issued to the applicant who has greater needs. It means that he should belong to a decent, safe, and clean housing; he unable to secure a home loan from the saved money or sources; and he should have an adjusted income, i.e. below the low-income limit of Utah.

What is the USDA home mortgage process?

The USDA home mortgage involves different processes, and it has different requirements for every home buyer. However, a general flow that it follows involves:

  1. Prequalifying with an approved lender to become sure about him and his deeds.
  2. Submitting all the required documents and give it further for pre-approval.
  3. Finding a USDA-approved home that falls in that respected area, as all homes don’t eligible for this loan.
  4. When you are done with the above steps, you can sign the purchase agreement and wait for the appraisal.
  5. It’s necessary to stay calm during the loan processing and underwriting process. Once it is done, then only close the deal.

Difference between USDA Guaranteed and Direct USDA loans:

USDA offers three types of loans, but two different loans that give permission to rural families to buy their dream home are USDA Guaranteed loan and the USDA Direct loan. These two are different from each other in the context of funds and who lend it. In Guaranteed loan, the lender issuing the loan, whereas in Direct loan, the USDA issue the loan and provide a subsidy.

The purpose of both USDA loan programs is to allow people to buy homes in rural areas. Also, they both have the same purpose, but they behave differently in financial situations.

Bottom Line:

USDA Rural Home Mortgage program is specially designed for the rural area population to buy their own home and get better deals, terms and options. And if you want to avail USDA rural housing in Utah, then Sun America Mortgage can be your one-stop solution. If you live in a rural area and you meet the income requirements, then you are eligible for USDA loan in Utah.

So are you not sure from where you can get the USDA Rural housing loan or USDA home mortgage? Simply call us and we’ll look for the best offer for you.

The Unspoken Truth they never tell you about First time Home Buyers:

A lot of first time home buyers have no idea what they’re doing when they stumble across this unfamiliar terrain and have been known to make some regrettable decisions in the process. Sure, some can get some good advice from family & friends that have been through the process before. It just might not always be the most accurate or up to date advice. In this post, we’ll go over some common mistakes a lot of first time home buyers make, and hopefully, by going over them, you’ll be able to avoid them too.

avoid these common mistakes

Looking for a home before getting pre-approved: I know, I know. It’s so exciting to start house hunting. Seeing all the pretty homes out there gets you excited to move in and start your life. Doing that might be a very bad idea though. If you’re looking for homes way out of your price range, you could get attached & set yourself up for some emotional disappointment. Do yourself a favor and go get pre-approved from a Mortgage Lender so you know what your price range is, then go shopping!

Not checking the first time homebuyer programs: Contrary to popular belief, you don’t have to save a ton of money when you’re buying your first home. Many Utah housing down payment assistance programs will help you to make a better choice and save more. Just ask your mortgage lender and they will guide you in the right direction of which ones are going to be most beneficial for you.Buying a more expensive home than you can afford: We easily fall in love with beautiful homes that always makes us want to stretch our budget. But that stretch can lead to tough financial times. I know a bigger, nicer home is more enticing, but try to be responsible and do what’s going to be best for your family. I promise it’s not worth the risk. You may even find a smaller similar version to what you’re wanting if you keep the search up!

Rushing into a Home: A lot of young couples are eager to buy a home shortly after they get married, and I can’t say I blame them. It’s an exciting time for sure. Usually, young couples aren’t always financially prepared for the burden of home ownership though. Even though many great programs offer zero percent down options, I’d still recommend taking some time to save up enough to put down at least a small down payment, or to cover closing costs.

Being Careless with Credit: The first thing your Mortgage lender will check is your Credit Report. If you’ve ever gotten any kind of loan before, you should know this. You don’t have to go overboard and count every dollar. Just try to do your best & pay your credit card bills from time to time.

Overlooking USDA, VA, and FHA loans: Being a first-time buyer can be complicated, and choosing the right loan can be difficult. Each type follows a different set of qualifications to get, so it can be really hard to narrow down what the best option for your family is going to be. To help you be sure, there are about three major types of loan programs, specifically designed with first-time home buyers in mind, that’ll make your life a little easier:

      • FHA Loans: Backed by the Federal Housing Administration, this loan allows home buyers to own a property with as little as 3.5% as the down payment. The loan is an excellent choice for people with a high debt to income ratio, or with a credit score that’s less than perfect.
      • VA Loans: VA loans are eligible for active-duty and retired veteran military members and their surviving spouses. This loan offers a low down payment and lenient credit scores.
      • USDA Loans: The USDA home loan is also referred to as the Rural Housing Loan. As the name depicts, the USDA home loan is available to those willing to purchase a property in suburban neighborhoods. 

The objective of the USDA home loan is to reach the low to moderate-income homebuyers by providing a mortgage at 0% down.

Draining Your Savings: Probably one of the worst things you can do is saving all your money to put 20% down and being left with nothing when it comes time to buy. I understand wanting to avoid mortgage insurance seems like a priority, but you’re doing yourself no favors if you end up needing that money later on down the road. Ask your Loan officer what they would advise you to do with how much you have saved up. They see this kind of scenario all the time and should be able to give you sound advice.

Missing the First Mortgage Payment: Some homeowners skip their first monthly payment trying to play catch up from just buying their house. Some thought that it will auto-deducted but it doesn’t always deduct automatically. That small mistake can lead to bigger problems later on in the future & might get you in this never-ending cycle of playing catch up. Be sure about the payment and understand your mortgage lender when it comes time to close your loan. They wouldn’t let you get yourself into a loan you could afford to pay, so have trust & make sure you put aside the right amount.

I hope you can learn from the mistakes of others, so you can avoid some of the heartbreak others have had to endure. Remember, the first step is finding a good Lender to help you figure out your price range so you can get to house hunting! Sun American Mortgage has you covered no matter what your financial standing may be. Our friendly loan officer would be happy to answer any questions you might have and run through scenarios with you to make sure you get into your dream home without breaking your wallet!

Best Mortgage lenders in Utah for first time home buyers:

Mortgage Lenders

Mortgage Lenders in Utah allows you to take home loans using the institution’s funds. They can be banks or credit unions, who land you the money to fulfil your dream of buying a new home. Your home is likely to be the largest purchase you make in your lifetime and that’s why selecting the right mortgage loan as per your needs become quite important. However, most of the people make a wrong move and choose the wrong lender for themselves. So research well and choose the best mortgage lenders in Utah for yourself.

Benefits of Choosing the Best Mortgage Lenders in Utah:

The Best Mortgage Lenders in Utah will always offer the best deals, negotiates, and processes the selected loan for the first time home buyers. Here are six services that a qualified and experienced mortgage broker offers:

  • Offers access to Hundreds of Loan Services: A professional mortgage lender will offer a wide range of mortgage loans with low down payments. The greater lender’s experience and network you choose, the better opportunities they will provide you on loans.
  • Suggest the Most Advantageous Deals: Mortgage lenders makes decisions as per your requirements, rather than offering a deal that will benefit their institution. They work as the problem solver and knowledgeable consultant. And as they have access to a wide range of mortgage products, you are promised with the greatest value in terms of interest rate, repayment amounts, and services. A professional will always interview first, identify your requirements, your goals, and then decide the best Mortgage deal for you. Therefore, this is not wrong to say that, innovative mortgage strategies and its genuine services will be provided by an experienced lender.
  • Experience and Flexibility to fulfil your needs: The Best Mortgage lender in Utah will navigate the client through any problem and smoothly handle the whole loan process. Suppose, if a client has some credit issues, the lender will come out with the best services to meet their need without costing you more. The client who needs a larger home loan and if their bank is not offering the same, then the lender’s knowledge and ability will also help them financially.
  • Saves Time: With Mortgage Lender, you simply have to fill one application and you will get the best services. They will provide you with a formal comparison of all loans, guide you with the accurate information, portray the real cost with current interest rates, and reflect the closing costs of the selected loan.
  • Saves you Money: Mortgage Lender will offer the best available rates on a loan, which will lower down the client’s total cost. They will try to offer the best services in the budget and make things smoother.
  • Delivers Personalized Services: Every mortgage lender provides different services for the same loan, and you should select expect from them to help you, be available for you, and advise you all over the process. Also, they should offer some personalized services that will benefit you in a long time.

How to Pick a Mortgage Lender?

While buying a new house, the best thing you can do is to find the prominent Mortgage lender. For most of the buyers, getting a beneficial mortgage is necessary. And not only for home buyers, but it’s also very important to get a mortgage for building a home. And luckily, a specialized mortgage lender will fill the gap between how much money you have and how much money you will need to buy a new home.

They are better in terms of business and that’s why they offer you with the appropriate deal. However, comparing and selecting the right mortgage lender becomes more important as you don’t want to spend more while investing in a new home. And if you will initially invest your time in this process, it will help you save money and decrease all the further hassles.

By doing your homework, you will be able to save your time, efforts, and money during the processing stage. Here are some tips that will help you to pick the right mortgage lender:

  1. Work on your Credit Score: The better credit score will help you to get an amazing mortgage. And it’s not necessary to have a perfect score, just make sure to have a higher score. The better score will help you to find a better mortgage lender who will offer brilliant deals.
  2. Get a recommendation from someone trustworthy: If someone has bought a home recently, then they will be able to share their experience and help you in finding a better lender. Their experience will help you to be a smart buyer and protect you from common mortgage mistakes.
  3. Check Online Reviews: The past online reviews help in understanding the working of the Mortgage lender. Spend a few days to check it and attain the useful knowledge. Try to feel like a borrower at the time of reading reviews.
  4. Understand the charges: Every lender charges different interest rate, which is the major factor to concern while taking a loan. Also, some lenders fees over-processing, origination, underwriting, rate lock, appraisal, application, and private mortgage insurance. So make sure to understand all the expenses carefully and then be sure about it.
  5. Understand the Qualification letter provided by the lender: When you are taking a loan for your new home, you have to understand pre-approved and pre-qualified mortgage. Pre-approval is harder to get. Here, the lender checks the credit score and confirm your current income. Whereas, the pre-qualification mortgage can get on the phone and no special documents are verified. As a borrower, you need to understand the terms of both mortgages and define the best for you.

Now, the question comes, which is the best mortgage lenders in Utah for the first home buyers. So always check the interest rate, terms of costs, services, and transparency in mind. Talk to the home mortgage experts at Sun American Mortgage. You can choose from Conventional home mortgage, FHA home mortgage, Reverse Home mortgage, USDA Rural Loan, VA home mortgage, and Jumbo Loans. We assist the Utah and neighbouring places in getting home loans. Even first time home buyers can take advantage of it. So for more details, contact us.