Best Mortgage Lenders in Utah in 2018

See Mortgage Rate Quotes for Your Home


Residents of Utah have several options for mortgage lenders, but few large banks reside in the state. With various private lenders and smaller financial institutions accounting for most of the money lent to fund Utah home purchases, finding a reliable lender for a purchase or refinance may take time. To help simplify the process, we evaluated the available mortgage options in Utah to find the best lenders based on common buyer needs. Read more about our selections or use our quote tool above to find more specific mortgage rates.

Best Mortgage Rates in Utah

Hart West Financial, a regional lender licensed in six states, offered the lowest mortgage rates in Utah. Compared to the average 30-year fixed mortgage rate across the U.S., rates are slightly lower in Utah. Overall, the lowest rates for Utah mortgages were offered by smaller financial institutions and direct lenders rather than large traditional banks.

Lowest Mortgage Rates for Utah

LenderRateAPRMonthly P+IFees
Hart West Financial4.25%4.25%$905$0
ConsumerDirect Mortgage4.38%4.38%$919$0
Triumph Bank Home Loans4.38%4.38%$919$0

Estimates for a 30-year fixed-rate mortgage for $230,000 with a 20% down payment and a 740 credit score. Estimates include origination fees and points but don't include other closing costs.

Surprisingly, three out of the four lenders with the lowest mortgage rates charge no closing costs or 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, and an estimated appraisal and credit report fee of $620 for 30-year fixed conventional loans. Similarly, AimLoan's closing costs can add up to more than $7,000.

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. Keep in mind that some lenders may not offer FHA loans and VA loans or may require a down payment of at least 20%. 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

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 5% down payment, which is a competitive option for first-time homebuyers who can't afford to put down a lot of money. However, borrowers must consider that when opting to put down 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

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

LenderRateAPRMonthly 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

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

LenderRateAPRMonthly 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

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$1,563
Wells Fargo4.63%4.94%$1,062$10,719 (includes closing costs)
Quicken Loans4.38%4.83%$1,173$4,687

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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