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Alta Mortgage Group

Mortgage Loan Options

Every homebuyer's situation is different. Explore our loan programs to find the right fit for your goals, budget, and timeline.

Conventional

Traditional mortgage with competitive rates for qualified borrowers.

  • ✓Down payments as low as 3%
  • ✓No upfront mortgage insurance fee
  • ✓Available for primary, secondary, and investment properties
  • ✓Fixed and adjustable rate options
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FHA

Government-backed loans with flexible credit requirements and low down payments.

  • ✓Down payments as low as 3.5%
  • ✓Credit scores as low as 580
  • ✓Gift funds allowed for down payment
  • ✓Competitive interest rates
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VA

Exclusive benefits for veterans, active military, and eligible surviving spouses.

  • ✓No down payment required
  • ✓No private mortgage insurance
  • ✓Competitive interest rates
  • ✓Limited closing costs
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USDA

Zero-down-payment loans for eligible rural and suburban homebuyers.

  • ✓No down payment required
  • ✓Low mortgage insurance rates
  • ✓Below-market interest rates
  • ✓Available in eligible rural areas of Utah
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Jumbo

Financing for homes that exceed conventional loan limits.

  • ✓Loan amounts above conforming limits
  • ✓Competitive rates for high-value properties
  • ✓Fixed and adjustable rate options
  • ✓Flexible terms
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Adjustable Rate (ARM)

Lower initial rates that adjust after a fixed period.

  • ✓Lower initial monthly payments
  • ✓5/1, 7/1, and 10/1 ARM options
  • ✓Rate caps limit payment increases
  • ✓Ideal for shorter-term homeownership
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Fixed Rate

Predictable payments that never change over the life of your loan.

  • ✓Rate stays the same for the entire term
  • ✓15, 20, and 30-year terms available
  • ✓Predictable monthly payments
  • ✓Protection from rising interest rates
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Frequently Asked Questions

What credit score do I need to buy a home in Utah?

Credit requirements vary by loan type. FHA loans accept scores as low as 580. Conventional loans typically require 620+. VA and USDA loans have flexible credit requirements. Contact us for a free consultation to discuss your options.

How much down payment do I need?

Down payments range from 0% (VA and USDA loans) to 3% (Conventional) to 3.5% (FHA). The right amount depends on your loan type, financial situation, and goals. Higher down payments can mean lower rates and no mortgage insurance.

What is the difference between rate and APR?

The interest rate is the cost of borrowing the principal loan amount. The APR (Annual Percentage Rate) includes the interest rate plus other costs like mortgage insurance, closing costs, and points, giving you a more complete picture of the total cost.

Can I buy a home in Utah with no down payment?

Yes! VA loans (for veterans and active military) and USDA loans (for eligible rural areas) offer 100% financing with no down payment required. Utah has several areas that qualify for USDA loans.

Not Sure Which Loan Is Right for You?

Our Utah mortgage experts will help you find the best program for your situation.

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