10 Best Utah Mortgage Lenders of 2021
Looking to buy a home in Utah or get a home equity line of credit? You have many mortgage lenders to choose from. We will help you find the best Utah mortgage lender, based on your needs and circumstances.
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners and here's how we make money.
The Beehive State is full of busy people. If you’re buying or refinancing a home in Utah, it’s hard to find time to research the various lenders. We’ve done the homework, identifying some of the best lenders in Utah for borrowers’ different needs.
Here are the top lenders in Utah for first-time home buyers, borrowers with low credit scores or small down payments, folks who want to apply online and homeowners who want to borrow against their home equity.
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- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
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Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
10 Best Utah Mortgage Lenders of 2021
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 Pennymac: NMLS#35953 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
500 | 3.5% | Learn more at New American Funding | ||
620 | 3% | Learn more at Rate | ||
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
 Bank of America: NMLS#399802 LEARN MORE on NerdWallet | 660 | 5% | LEARN MORE on NerdWallet | |
 Chase: NMLS#399798 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Guild Mortgage: NMLS#3274 LEARN MORE on NerdWallet | N/A | 3% | LEARN MORE on NerdWallet | |
 Citibank: NMLS#412915 LEARN MORE on NerdWallet | N/A | 3.5% | LEARN MORE on NerdWallet | |
 Flagstar: NMLS#417490 LEARN MORE on NerdWallet | N/A | 5% | LEARN MORE on NerdWallet | |
Flagstar: NMLS#417490 LEARN MORE on NerdWallet | 700 | 3% | LEARN MORE on NerdWallet |
Our pick for
online experience
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on NerdWallet
Why We Like ItPennymac, known for its government loans, stands out for a transparent digital experience. Interest rates tend to be low, but origination fees may be a bit high.
Pros
- Easy to personalize a quote and apply online.
- Can lock in a rate before you’re under contract, earlier than most lenders.
- Perks include a 1% interest rate buydown and “refinance later” cash bonus.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- Online chat is available only in the logged-in experience.
- No home equity lines of credit or renovation loans.
Learn more
at Rocket Mortgage, LLC
Rocket Mortgage, LLC: NMLS#3030
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
1%
Why We Like ItRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.
Pros
- Reported average time to close is 15 days faster than industry average.
- FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
- Borrowers can apply via mobile app.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- No construction or renovation loans.
- Physical branches are only available in Detroit, Cleveland, and Phoenix.
Our pick for
lower credit score borrowers
You don’t have to have perfect credit to qualify for a mortgage with these lenders in Utah.
Learn more
at New American Funding
New American Funding: NMLS#6606
4.5
FHA loans
NerdWallet ratingMin. credit score
500
Min. down payment
3.5%
Why We Like ItGood for: First-time home buyers and other borrowers looking for a broad array of loan choices.
Pros
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Dedicates a significant portion of its business to FHA lending.
Cons
- FHA mortgage origination fees and interest rates tend to be on the high end, according to the latest federal data.
LEARN MORE
on NerdWallet
Why We Like ItGood for: Buyers who want to explore low down payment mortgages, including government-backed loans and Citi’s proprietary option.
Pros
- Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
- Offers low rates compared with other lenders, according to the latest data.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Requires help from a loan officer to complete an online mortgage application.
- Customized mortgage rates not available without making contact.
- Doesn’t offer renovation loans.
Our pick for
first-time home buyers
Learn more
at Rate
Why We Like ItRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.
Pros
- Fully underwritten mortgage approval in as little as one day for qualified borrowers.
- Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
- Advertises a HELOC that can be funded in as few as five business days.
Cons
- Origination fees are on the high side, according to the latest federal data.
- HELOC requires immediate, full withdrawal of funds.
LEARN MORE
on NerdWallet
Guild Mortgage: NMLS#3274
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
3%
Why We Like ItGuild offers a number of loans and programs that stand out, including renovation loans and home equity products. However, Guild does not have a mobile app, and interest rates aren’t published online.
Pros
- Offers several programs to make homeownership more accessible.
- Offers loans for manufactured homes.
- Renovation loan options are available.
Cons
- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
Our pick for
low down payments
LEARN MORE
on NerdWallet
Bank of America: NMLS#399802
4.0
Home loans overall
NerdWallet ratingMin. credit score
660
Min. down payment
5%
National / regional
National
Why We Like ItBank of America offers low interest rates, in-person service and plenty of loan options, but it was fined by regulators for reporting inaccurate mortgage data.
Pros
- Interest rates are lower than most lenders, according to the latest federal data.
- Offers up to $10,000 in down payment assistance to qualified borrowers.
- Banking customers can get discounted interest rates or fees.
Cons
- Mortgage origination fees are on the high side, according to the latest federal data.
- Rate estimator tool doesn’t personalize by credit score.
- Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
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on NerdWallet
Why We Like ItFlagstar Bank stands out for its range of accessible loans and programs, including loans with flexible requirements and down payment grant options. Its mortgage operations will be acquired by Mr. Cooper in 2024.
Pros
- Conventional loan terms extend to 40 years, which is unusually flexible.
- Offers options for high-balance mortgages.
- Offers specialized mortgages for professionals, such as doctors and lawyers, starting their careers.
- Reported average time to close (20-30 days) is faster than industry standard.
Cons
- The lender’s mobile app is focused on banking, not mortgages.
- Conventional fixed-rate mortgages require a 5% minimum down payment, higher than some competitors.
Our pick for
home equity lines of credit
These lenders offer home equity lines of credit, which allow you to borrow against your home’s value.
LEARN MORE
on NerdWallet
Chase: NMLS#399798
4.5
HELOCs
NerdWallet ratingNational / regional
National
Max LTV
80%
Min. credit score
620
Why We Like ItGood for: borrowers who want a wide selection of loan products, an in-person experience and comparatively low interest rates.
Pros
- Carries a wide variety of mortgage types and products, including DreaMaker and Standard Agency mortgages, with down payments as low as 3%.
- Offers low rates compared with other lenders, according to the latest federal data.
- Offers a customizable mortgage calculator for personalized rate and payment estimates.
Cons
- Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
- You have to speak with a home loan adviser to complete the application.
- Home equity lines of credit (HELOC) are currently unavailable.
LEARN MORE
on NerdWallet
Flagstar: NMLS#417490
3.5
HELOCs
NerdWallet ratingNational / regional
National
Max LTV
85%
Min. credit score
700
Why We Like ItGood for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.
Pros
- Offers a wide range of loan types and products, including FHA, VA and USDA.
- Borrowers can apply and track loan status online.
- Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.
Cons
- Home equity loans are geographically limited.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
More from NerdWallet
Last updated on January 29, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
NerdWallet's Best Utah Mortgage Lenders of 2021
- Pennymac: Best for online experience
- New American Funding: Best for lower credit score borrowers
- Rate: Best for first-time home buyers
- Rocket Mortgage, LLC: Best for online experience
- Bank of America: Best for low down payments
- Chase: Best for home equity lines of credit
- Guild Mortgage: Best for first-time home buyers
- Citibank: Best for lower credit score borrowers
- Flagstar: Best for low down payments
- Flagstar: Best for home equity lines of credit
