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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.

NerdWalletFebruary 25, 2021
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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.

Summary of Best Utah Mortgage Lenders of 2021

Our pick for

online experience

These lenders offer borrowers in Utah the convenience of an online mortgage platform.

Rocket Mortgage by Quicken Loans

at Rocket Mortgage by Quicken Loans

Rocket Mortgage by Quicken Loans: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage by Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage by Quicken Loans

Why we like it

Good for: borrowers who appreciate smartphone and online convenience for a fully digital home loan experience powered by Quicken Loans.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

Read Full Review

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.

New American Funding

at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
New American Funding

Min. Credit Score

640

Min. Down Payment

3.5%

at New American Funding

Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.

Read Full Review

Our pick for

first-time home buyers

Guaranteed Rate

at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. Credit Score

620

Min. Down Payment

3%

at Guaranteed Rate

Why we like it

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

Read Full Review

Our pick for

online experience

PennyMac

at PennyMac

PennyMac: NMLS#35953

4.5

NerdWallet rating 
PennyMac

Min. Credit Score

620

Min. Down Payment

3%

at PennyMac

Why we like it

PennyMac excels in online capabilities and makes it easy to shop rates online. Average origination fees are higher than other lenders, and home equity lines of credit and jumbo mortgages were suspended due to the COVID-19 pandemic.

Pros

  • Offers a full range of online capabilities, including e-signatures and online loan process tracking.

  • Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.

Cons

  • Origination fees are higher than the median for all lenders.

  • Doesn't currently offer jumbo mortgages or home equity lines of credit.

Read Full Review

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.

Chase

at Chase

Chase: NMLS#399798

4.5

NerdWallet rating 
Chase

National / Regional

National

Max LTV

80%

at Chase

Why we like it

Good for: borrowers who want a name-brand bank, with offices in more than half the states, that charges lower rates and fees than many other lenders.

Pros

  • Allows electronic submission and tracking of loan documents.

  • Carries a wide variety of mortgage types and products.

  • Generally offers good rates and charges reasonable fees.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.

  • You have to speak with a home loan advisor to complete the application.

Read Full Review

Our pick for

first-time home buyers

These lenders treat first-time home buyers in Utah with care.

Guild Mortgage
Read review

Guild Mortgage: NMLS#3274

3.5

NerdWallet rating 
Guild Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

  • Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.

  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.

  • Average interest rates and fees are higher than other lenders.

Read Full Review

Our pick for

lower credit score borrowers

Citibank
Read review

Citibank: NMLS#412915

5.0

NerdWallet rating 
Citibank

National / Regional

National

Min. Down Payment

3.5%

Read review

Why we like it

Good for: Borrowers wanting to compare mortgage rates online for a variety of loan options.

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.

  • Provides customizable mortgage rates on its website.

  • Offers low rates and fees compared with other lenders.

Cons

  • Charges a mortgage application fee.

  • Requires help from a mortgage loan officer to complete the loan application online.

Read Full Review

Our picks for

low down payments

Not everyone has the income and the time to save up for a large down payment. These lenders offer mortgages for home buyers who need to make small down payments.

Flagstar
Read review

Flagstar: NMLS#417490

5.0

NerdWallet rating 
Flagstar

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good 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.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Home equity lending is geographically limited.

Read Full Review
Bank of America
Read review

Bank of America: NMLS#399802

5.0

NerdWallet rating 
Bank of America

Min. Credit Score

620

Min. Down Payment

3%

Read review

Why we like it

Good for: first-time home buyers looking for low-down-payment options and existing customers who may get a discount on fees.

Pros

  • Allows borrowers to apply entirely online.

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review

Our pick for

home equity lines of credit

Flagstar
Read review

Flagstar: NMLS#417490

5.0

NerdWallet rating 
Flagstar

National / Regional

National

Max LTV

89%

Read review

Why we like it

Good 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.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Home equity lending is geographically limited.

Read Full Review

Last updated on February 25, 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.

To recap our selections...

NerdWallet's Best Utah Mortgage Lenders of 2021