The Best Mortgage Lenders in Parowan, UT
Compare verified mortgage lenders serving Parowan, Utah. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Parowan
Featured Mortgage Lenders
Mountain America Credit Union Mortgage Team
Mountain America Credit Union
Mountain America Credit Union is one of Utah's most trusted financial institutions with a strong presence throughout Southern Utah. They have exceptional customer satisfaction ratings and offer highly competitive mortgage rates. Their Cedar City branch serves Parowan residents with personalized service and local underwriting expertise. As a credit union, they prioritize member benefits and community-focused lending with various first-time homebuyer programs and specialized rural property financing options.
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Guild Mortgage Company
Guild Mortgage Company - Cedar City
Guild Mortgage has been serving Southern Utah communities for decades with their Cedar City office providing dedicated service to Parowan residents. They are renowned for their exceptional customer service and flexible lending criteria. Guild specializes in rural property financing and offers unique programs for agricultural and larger land parcels common in the Parowan area. Their local loan officers have deep knowledge of Iron County real estate markets and provide personalized guidance throughout the mortgage process.
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Intercap Lending
Intercap Lending Inc.
Intercap Lending is a highly-rated Utah-based mortgage company that serves the entire state, including Parowan and rural Southern Utah communities. They consistently receive top marks for customer satisfaction and offer competitive rates with efficient processing. Specializing in both urban and rural properties, they have expertise with the unique challenges of financing homes in smaller communities like Parowan. Their digital mortgage platform combined with personalized service makes them a top choice for remote and in-person mortgage needs throughout Utah.
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Frequently Asked Questions
Common questions about mortgage lending in Parowan, UT
What are the typical down payment requirements for homes in Parowan, UT, and are there local programs to assist with this?
In Parowan, down payments typically range from 3.5% for FHA loans to 20% for conventional loans to avoid PMI. Utah offers statewide programs like the Utah Housing Corporation's (UHC) FirstHome loan, which provides down payment assistance and competitive rates for eligible buyers in Parowan. Additionally, Iron County may have specific grants or programs for first-time homebuyers, so consulting with a local lender familiar with the area is crucial.
How does Parowan's rural location affect mortgage options and lender availability?
As a rural community, Parowan buyers often benefit from USDA Rural Development loans, which offer 100% financing with no down payment for eligible properties and borrowers. While major national lenders are accessible online, working with a regional bank or credit union based in Cedar City or St. George can provide more personalized service and deeper knowledge of Parowan's specific property types, like land-with-home packages.
Are property taxes in Parowan, UT, factored into mortgage calculations, and how do they compare?
Yes, property taxes are included in your monthly escrow payment. Iron County's property tax rates are generally lower than the national average, which can make overall housing costs more affordable in Parowan. For a typical $300,000 home in Parowan, annual property taxes might range from $1,800 to $2,400, but your lender will use the exact assessed rate to calculate your precise monthly obligation.
What should I know about getting a mortgage for a manufactured or modular home in Parowan?
Financing for manufactured homes in Parowan is common but has specific requirements. The home must be permanently affixed to a foundation and titled as real property to qualify for conventional, FHA, or VA loans. Local lenders experienced with Iron County's regulations can guide you through this process, as some rural properties may also utilize FHA Title I loans or specialized portfolio loans from local banks.
Are there specific first-time homebuyer programs or grants available for Parowan residents?
Yes, first-time homebuyers in Parowan can access the Utah Housing Corporation's programs, which include down payment assistance in the form of a second mortgage. The City of Parowan itself does not currently offer a unique grant program, but buyers should also explore national programs like VA loans (given Utah's veteran population) and FHA loans, which are popular for their lower down payments and more flexible credit requirements in this market.
Why Choose a Mortgage Lender in Parowan?
Local Market Knowledge
Lenders who understand Parowan's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Utah.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Parowan and get competitive rates on your home loan.