Home Loan in St. George Utah

Mortgage and Lending NMLS #: 134614

Home Loan in St. George Utah

Mortgages near St. George, Utah to know different mortgage options near St. George, Utah? Here's your guide. Conventional Fixed Rate Mortgages are the most popular of all the mortgages in St. George, Utah. These Conventional Fixed Rate Mortgages, or FRM, provide a constant interest rate and monthly payment. Most people pay 20% down, but that's not always a requirement.

Terms of this mortgage range from 10-40 years. The opposite of a Fixed Rate Mortgage, Adjustable Rate Mortgages (ARM) are not fixed. Hence the name 'adjustable rate'. As the market changes, so does your interest rate. Your interest rate is recalculated yearly. Since your interest rate changes, your monthly payment changes, too. Usually, the interest rate is lower than what you'd pay for a FRM, but the price can fly higher depending on the market. If you'd like to know more about ARM click here.

The 3rd most popular loan is called an FHA Mortgage Loan. 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". This loan is most popular with thos who can't do a FRM because they can't pay the 20% down payment. Instead, you pay 3% down and pay higher monthly payments. FRM, ARM, and FHA Mortgage Loans are the most popular options to finance your home in St. George, Utah.

But, there are lots of different mortgage options! You can find other mortgage options and information on them by going to: http://www.spencerstott.com/loan-programs/. It may be a struggle trying to decide which mortgage option is right for you. Here's a tip to help you decide which mortgage fits your financing needs.

The most important part of looking into St. George, Utah Area Mortgages is talking with a local mortgage lender you can trust. Feel free to call or contact us anytime or visit our website at spencerstott.com

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