Home Loan in Ogden Utah

Mortgage and Lending NMLS #: 134614

Home Loan in Ogden Utah

Mortgages near Ogden, Utah Here's your guide to mortgages in Ogden, Utah. The most popular of all Mortgages near Ogden, Utah are Conventional Fixed Rate Mortgages. Conventional Fixed Rate Mortgages (or "FRM" for short) offer constant interest rate for the entire life of the loan and monthly payments remain constant. Most people pay 20% down, but that's not always a requirement.

You can expect this mortgage to last between 10 and 40 years. Unlike a FRM, Adjustable Rate Mortgages, or "ARM", change. It's only fitting that they call it an 'adjustable rate'. As the market changes, so does your interest rate. Every year, your interest rate is recalculated. This means your monthly payment changes with the interest rate. Unless the market does something crazy, your interest rate is lower than what you'd get for a Fixed Rate Mortgage. Click here to learn more about Adjustable Rate Mortgages.

The last of the mortgages I will talk about are FHA Mortgage Loans. Technically, FHA Mortgage Loans are private, but what's unique about them is that the federal government has given the loan their "stamp of approval". These are for those who can't pay that 20% down that is generally required by the FRM loan. Instead of 20%, you pay 3% with higher monthly payments. FRM, ARM, and FHA Mortgage Loans are the most popular options to finance your home in Ogden, Utah.

However, there are many more options out there for you! Here is information on other mortgage options AND more information on the above three mortgages: http://www.spencerstott.com/loan-programs/. Navigating the sea of different mortgage and finance options is hard. That's why I'm going to tell you the most useful thing you can do when trying to figure it all out. The most important part of looking into Ogden, Utah Area Mortgages is talking with a local mortgage lender you can trust.

Visit our website spencerstott.com or call us and we can help you get on your way to deciding which mortgage is right for you.


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Spencer Stott

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