Best Mortgage Lenders in Utah in 2018

Residents of Utah have several options for mortgage lenders, with private lenders and smaller financial institutions funding many Utah home purchases. Use our table of rates to find a lender or read more about our selections based on different types of borrowers in the state.

LenderInterest RateAPRLoan FeesMonthly Payment
Valley West Mortgage4.500%4.521%$450.00$932.30
ConsumerDirect Mortgage, a division of First Bank4.500%4.546%$995.00$932.30
First Internet Bank4.625%4.638%$271.00$946.02
Great American Lending4.625%4.646%$459.00$946.02

The estimates reflect the cost of a 30-year fixed mortgage rate for a home purchase price of $230,000 with a 20% down payment and a 740 credit score in Utah. For other lender options, we have searched through companies in the state to find the best lenders for different types of homebuyers in the state.

Best Mortgage Lenders in Utah

See Mortgage Rate Quotes for Your Home


Surprisingly, many of the lenders with low rates don't charge fees. However, we looked deeper and found other fees that weren't included in the online estimates. For example, Hart West Financial charges lender fees and other costs totaling $975. Most consumers want to pay the lowest amount possible to finance their mortgages, but rates alone aren't enough to identify a reliable lender. There are many other factors to consider, including customer service, fees and product options. In order to make the best decision, you'll have to look beyond rates and find the lender that can meet your top priorities as a borrower.

Best Mortgage Lender for First-Time Homebuyers: Bank of America

Consider this if you're buying your first home in Utah and want an affordable lender with informative online tools.

When purchasing your first home in Utah, Bank of America may be your best bet for a mortgage due to its low rates, moderate down payment options, and online tools.

First-Time Purchase Mortgages in Utah

LenderRateAPRMonthly PaymentDown Payment
Wells Fargo4.63%5.12%$1,2143.0%
Quicken Loans4.38%5.71%$1,2843.5%
Bank of America4.38%4.89%$1,1985.0%

Estimates for a $230,000 home purchase with a minimum down payment and a 740 credit score.

Bank of America offers the lowest monthly payment for those who want to make a down payment of 5%, which is a competitive option for first-time homebuyers who can't afford to put down a lot of money. Bank of America also provides an Affordable Loan Solution mortgage which requires only 3% down. However, borrowers must consider that when opting to put down any amount less than 20%, they will have to pay mortgage insurance.

Buying a home for the first time can be discouraging without the right support and resources. Bank of America does not provide any locations for first-time homebuyers but has online resources, such as live chat and educational guides specifically for first-time homebuyers.

Best Online Mortgage Lender: J.G. Wentworth

Consider this if you'd prefer to use an online lender that allows you to easily track the progress of your loan.

Although J.G. Wentworth is best known for purchasing structured settlement payments, it's also a competitive online mortgage lender. J.G. Wentworth provides a straightforward online platform to assist borrowers in finding mortgage options.

J.G. Wentworth Mortgage Loan Rates

Loan TypeRateAPRMonthly P+I
30-Year Fixed4.63%4.66%$946
15-Year Fixed4.25%4.31%$1,384
30-Year VA Loan4.25%4.47%$905
5/1 ARM4.50%4.54%$932

Estimates for a $230,000 home purchase loan with a 20% down payment and a 740 credit score. After a set period of time, the APR and monthly costs for ARMs can increase based on changes in the index rate.

J.G. Wentworth's online platform allows you to get a personalized rate quote within less than a minute. After entering your information, the website conveniently lays out your mortgage options, which include both fixed-rate mortgages and ARM loans. You can then pick a loan that you like best and either provide your information for a representative to contact you or apply online.

Generally, it takes 30 days from sending in your application to close on your mortgage with J.G. Wentworth. This lender allows you to track the progress of your loan on its website or mobile app. J.G. Wentworth also offers float-down options to make sure you get the lowest rate if the market rates decrease while you're waiting to be approved.

Best Lender for In-Person Service in Utah: Wells Fargo

Consider this if you need a lender with accessible branches throughout the state.

Wells Fargo is one of the most widely available home loan lenders in the country and has around 100 brick-and-mortar locations in the state of Utah. Although it doesn't have the best reputation in comparison to smaller lenders, partially due to the high volume of loans and customers using the service, Wells Fargo originated more than $1 billion in mortgage loans in Utah, making it an option worth considering.

Mortgage Products at Wells Fargo

Loan TypeRateAPRMonthly Payment
30-Year Fixed Rate4.63%4.66%$946
15-Year Fixed Rate4.13%4.22%$1,373
30-Year Fixed Rate VA4.63%4.76%$958
5/1 ARM4.13%4.60%$892

Estimates for a $230,000 home purchase loan with a 20% down payment and a 740 credit score.

Wells Fargo may not be the cheapest lender available, but its interest rates are competitive. If you're looking to complete your mortgage process in person, the bank also has many branch locations throughout Utah. You will most likely find a Wells Fargo branch near you, unlike many other mortgage lenders in Utah—unless you live in one of the big cities.


Wells Fargo will waive the monthly service fee for a Wells Fargo Preferred Checking account if you link your mortgage to the account. Other than that, there are not many added mortgage benefits to being an existing Wells Fargo customer besides the ease of linking your account for automatic payments.

Best Lender for a VA Home Loan: Navy Federal Credit Union

Consider this if you're looking to get a VA loan with low rates and fees.

Navy Federal not only offers low rates but also provides guidance for veterans through its RealtyPlus real estate assistance program and its online resources. Although Wells Fargo offers the lowest monthly payment, the rates and fees from Navy Federal were significantly lower, making it our top choice.

Best VA Lenders in Utah

LenderRateAPRMonthly P+IEstimated Fees and Points
Navy Federal3.75%4.05%$1,065$10,163
Quicken Loans4.38%4.83%$1,173$10,350
Wells Fargo4.63%4.94%$1,062$10,719 (includes closing costs)

Estimates for a fixed-rate 30-year VA loan of $200,000 to $230,000 with a 0% down payment, a VA funding fee of 2.15% to 3.30%, and a credit score of 740.

Navy Federal offers competitive rates for veterans and will even finance the VA funding fee that would normally have to be paid as part of the mortgage closing process. If you qualify for the credit union's membership, you'll have access to Navy Federal's RealtyPlus program, where you can receive up to $5,050 cash back, depending on the price of your home. In addition, Navy Federal has pledged to match lenders with lower mortgage rates for your first mortgage; if it's unable to do so, the credit union will deposit $1,000 in your bank account after closing.

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