Contact us about home loans and refinancing in Utah, Texas, Arizona, New Mexico, and Colorado.

Refinancing Your Utah Mortgage

Recent action by the U.S. Treasury has reduced mortgage interest rates significantly. If you haven't reviewed your current mortgage rate and monthly payment, now is a great time to do so before interest rates go back up.

Refinance Calculator

Your Current Monthly Payment Without Taxes and Insurance   Refinanced Mortgage   Mortgage Amount Left Enter your current payment Low Rate from Envision* / 5.103 APR Low FHA Rate from Envision* / 5.752 APR Years   New Monthly Payment   Monthly Savings! Your monthly savings from refinancing Yearly Savings! Savings Life of Loan!

FHA vs Non-FHA Refinance If you have less than 20% equity in your home (loan to value is higher than 80%) or a low credit score, you might consider an FHA Refinance. Refinance FHA Non-FHA Significance Loan to Value Limit 95% 80% With an FHA refinance your home needs to be worth only 5% more than your remaining loan amount, vs 20% for a non-FHA refinance. If your home is worth greater than 5% of the remaining loan amount, you can get cash out when you refinance. Preferred FICO Credit Score 620 720 FHA requires a lower minimum credit score. Loans are still possible with a lower credit score (for both FHA and Non-FHA), but the rate goes higher as your credit score goes lower (but the interest rate can still be low). PMI Mortgage Insurance Added to monthly payment Not needed if 20% down PMI (mortgage insurance) is added to loans with greater than 80% loan to value.

Call Marcus Burton at 866-583-3933 to discuss all the options available to you for refinancing, or click here to get a formal rate quote. * Rate offered by Envision Lending. Based on 720+ credit score and 80% loan to value.   Rates subject to change at any time based on market conditions.