Home Loan St. George Utah

Mortgage and Lending NMLS #: 134614

Home Loan St. George Utah

Home loan options in St. George, Utah Area Mortgages, Your guide to various mortgages and loans offered in the St. George, Utah area.

Conventional Fixed Rate Mortgages are the most popular of all the mortgages in St. George, Utah. From day one, you're paying the same interest rate and monthly payment when you use a Conventional Fixed Rate Mortgage (FRM). For the most part, a down payment of 20% is required, but that is not always the case.

The life of this mortgage ranges 10-40 years. Adjustable Rate Mortgages or "ARM" (cool acronym, huh?) are ever-changing. That's why they call it an 'adjustable rate'. Depending on the market, your interest rate could change. Your interest rate is recalculated yearly. Since your interest rate changes, your monthly payment changes, too. Unless the market does something crazy, your interest rate is lower than what you'd get for a Fixed Rate Mortgage. For a more in-depth look into how ARM works click here.

The 3rd most popular loan is called an FHA Mortgage Loan. These loans are private loans that the federal government has insured and stamped for approval. This loan is most popular with those 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. These are three of the most popular types of Mortgages in the St. George, Utah Area.

However, there are many more options out there for you! If you want to read more about any of the above loans or the various other options including refinancing go to this address: 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. Talk with a St. George, Utah Mortgage lender that you 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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