The Best Mortgage Lenders in Riverton, UT
Compare verified mortgage lenders serving Riverton, Utah. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Riverton
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the Salt Lake Valley, serving Riverton residents with competitive rates and a wide range of loan products. Known for their digital mortgage process and exceptional customer service, they have consistently high ratings for efficiency and transparency. Their experienced team provides personalized guidance, making them a preferred choice for homebuyers in Utah seeking reliable and fast closings.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is highly regarded for its community-focused approach and extensive experience serving the Riverton area. With a reputation for competitive rates and exceptional customer satisfaction, they offer a comprehensive suite of mortgage solutions, including specialized programs for first-time buyers. Their local loan officers provide personalized service, backed by strong industry credentials and a commitment to streamlining the home financing process.
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New American Funding
New American Funding
New American Funding is a reputable lender known for its diverse loan options and strong customer service in the Riverton market. They excel in providing competitive rates and flexible terms, with a focus on inclusive lending practices and support for underserved communities. Their local team offers tailored advice and efficient processing, making them a trusted choice for borrowers seeking reliability and a smooth mortgage experience.
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Frequently Asked Questions
Common questions about mortgage lending in Riverton, UT
What are the current mortgage rates like in Riverton, UT, and how do they compare to the national average?
Mortgage rates in Riverton are generally competitive with national averages but can be influenced by local lender competition and Utah's strong economy. As of recent trends, rates in the Salt Lake Valley, including Riverton, often run slightly below the national average due to a stable housing market and high demand. It's advisable to shop local credit unions like America First or Mountain America, which often offer very competitive rates to Utah residents.
Are there any down payment assistance programs specifically for first-time homebuyers in Riverton?
Yes, Riverton homebuyers can access the Utah Housing Corporation's (UHC) FirstHome program, which offers competitive interest rates and down payment assistance in the form of a second mortgage. Additionally, Salt Lake County offers the HOME Down Payment Assistance program, which provides up to $20,000 in assistance for eligible buyers purchasing within the county, including Riverton. These programs are designed to help with the upfront costs in a market where home prices have risen significantly.
How does Riverton's property tax rate affect my monthly mortgage payment?
Riverton, located in Salt Lake County, has a relatively moderate property tax rate compared to other Utah counties, currently around 0.6% to 0.7% of assessed value. This tax is typically included in your monthly mortgage escrow payment. For a $500,000 home, you can expect roughly $3,000-$3,500 annually in property taxes, adding approximately $250-$300 to your monthly PITI (Principal, Interest, Taxes, Insurance) payment.
What unique mortgage considerations should I be aware of when buying a newer home in Riverton's many developing subdivisions?
When purchasing in Riverton's newer developments, such as those in the southwest area, be mindful of potential Mello-Roos-like special assessment districts (called Special Service Districts in Utah) or homeowner association (HOA) fees that can be mandatory and affect your debt-to-income ratio. Lenders will include these fees in your monthly obligation calculation. Additionally, ensure your appraisal accounts for accurate comparisons, as rapid development can sometimes outpace comparable sales data.
Are jumbo loans common in Riverton, and what are the requirements given the local home prices?
With Riverton's median home price now often exceeding the conforming loan limit (currently $766,550 for Salt Lake County), jumbo loans are increasingly common. Local lenders are familiar with this and typically require stronger financial profiles, including credit scores above 700, a debt-to-income ratio below 43%, and larger down payments (often 10-20%). It's crucial to work with a lender experienced in the Utah market to navigate these requirements efficiently.
Nearby Cities
Explore mortgage lenders in cities near Riverton, UT
Why Choose a Mortgage Lender in Riverton?
Local Market Knowledge
Lenders who understand Riverton'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 Riverton and get competitive rates on your home loan.