Check out our exclusive "1+1=New" Product
Stop paying rent to a landlord and start building equity in your own home. Combining our "1% down payment" loan and our specialty "no-cost" loan, we can get the average renter into a new condo using the month's rent that will be saved plus their returned security deposit as their 1% down payment. While most people assume a mortgage payment will be higher than rent, a quick calculation using our payment engine might surprise you.
Don't want a higher housing payment?
Use the mortgage calculator to see what you can afford.
Most Condos in the Salt Lake area are between $100,000 to $300,000.
The average rate on a no-cost, 3% down, loan is %4.5*
While you will only be providing 1% of the down payment, our lender will contribute 2%** for a total down payment of 3%
Calculate Mortgage Payments
1% down payment (This can be gifted from a relative if necessary)
Minimum 720 credit score
If first time home buyer, completion of Fannie Mae's home ownership course***
Property must be owner occupied. (If you are looking to buy an investment property click here)
Ready to Apply?
Apply now to be prequalified
*based on 720 credit score, for accurate pricing contact one of our loan officers
**up to $5,000
*** unless you have already completed a Fannie Mae approved course through a HUD counselling agency.