Loan Programs
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Refinance Loan Center
Refinancing your home mortgage is an important financial decision, especially as your needs and circumstances evolve over time. If your current loan no longer aligns with your goals, now may be the right time to explore refinancing into a lower rate or better terms.
Consider whether refinancing makes sense for you by asking a few key questions. Are you frustrated with an adjustable-rate mortgage that continues to change? Are you currently paying private mortgage insurance (PMI) that may no longer be necessary? Are you looking to reduce your monthly expenses or take advantage of lower interest rates? Refinancing may also open the door to new financial opportunities by improving your overall cash flow.
At Zion Mortgage, our team of refinance specialists is committed to helping you evaluate your options and develop a customized plan that aligns with your financial goals. By refinancing, you may be able to lower your monthly payment and reduce the total cost of your loan over time. We encourage you to explore your options and contact us to determine the best solution for your situation.
FHA Loan Center
FHA loans continue to be a popular choice for homebuyers, particularly first-time buyers or those with less-than-perfect credit. Because these loans are insured by the Federal Housing Administration, they offer more flexible qualification requirements compared to conventional loans.
Recent updates to FHA loan limits have made it even easier for borrowers in certain areas to qualify. These changes were introduced in response to housing market conditions and may allow for higher borrowing limits depending on your location.
As FHA loan specialists, we are here to guide you through the process and help you understand how these updates may benefit you. Our goal is to create a tailored solution that makes homeownership more accessible for you and your family.
VA Loans
VA loans are mortgage loans guaranteed by the U.S. Department of Veterans Affairs and are available to eligible service members, veterans, and their families. These loans offer significant advantages for those who have served our country.
One of the primary benefits of a VA loan is the ability to purchase a home with little to no down payment. Borrowers can also refinance up to 100% of their home’s value and are not required to pay private mortgage insurance (PMI). In many cases, sellers may contribute toward closing costs, making homeownership even more affordable. Additionally, VA loans are often easier to qualify for due to the government guarantee, which reduces risk for lenders.
Eligibility typically includes active-duty service members, honorably discharged veterans, members of the National Guard or Reserves, and in some cases, surviving spouses of service members. Disabled veterans may also qualify for a waiver of the VA funding fee.
The VA funding fee is a one-time fee paid to the Department of Veterans Affairs, which helps support the program. This fee varies depending on factors such as service status, loan type, and down payment, but it can often be rolled into the loan rather than paid out of pocket.
For borrowers who already have a VA loan, a VA Streamline Refinance may be available. This option allows you to lower your interest rate with minimal documentation and little to no out-of-pocket costs.
Conventional Loans
Conventional loans are mortgage loans that are not backed by the government but instead follow guidelines established by Fannie Mae and Freddie Mac. These loans often offer competitive rates, flexible terms, and lower overall costs for qualified borrowers.
Conventional loans are best suited for individuals with strong credit, stable income, and manageable debt levels. They typically require a down payment ranging from 5% to 20%, depending on the borrower’s qualifications.
There are several types of conventional loan options available. Fixed-rate mortgages provide consistent payments over the life of the loan, with common terms such as 30, 20, 15, and even 10 years. Shorter-term loans generally offer lower interest rates and allow borrowers to build equity more quickly.
Adjustable-rate mortgages (ARMs) are another option, offering a fixed interest rate for an initial period, such as 3, 5, or 7 years, before adjusting annually based on market conditions. These loans can be beneficial for borrowers who plan to sell or refinance before the adjustment period begins.
Conventional loans can be used for a variety of property types, including single-family homes, condominiums, planned unit developments, and multi-family properties with up to four units. They are also suitable for primary residences, second homes, and investment properties.
If you are considering a refinance, most lenders require at least 10% equity in your home. However, alternative programs may be available if your equity is limited.
Utah Housing Loan
First-Time Homebuyer Assistance
Many clients don’t realize how accessible homeownership can be. Through programs from Utah Housing Corporation, you can help clients:
Qualify with lower credit scores
Access reduced interest rates
Get into a home with minimal upfront costs
Down Payment Assistance (DPA)
Down Payment Assistance (DPA)
This is one of the biggest barriers-and opportunities.
Utah offers:
Grants (non-repayable in some cases)
Second loans to cover down payment/closing costs
Deferred payment options
Credit & Financial Readiness Coaching
Credit & Financial Readiness Coaching
A lot of potential buyers are 3-6 months away from qualifying, they just don’t know it.
You can help with:
Credit improvement strategies
Debt-to-income optimization
Savings planning
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Flexible loan options
tailored to your needs
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Transparent rates with
no hidden surprises
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Guidance from a team
that puts families first
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Fast and hassle-free
application process
How Our Lending Process Works
We’ve made borrowing simple, transparent, and stress-free - so you can focus on what matters most.
Step 1
Apply Online
Fill out a quick application with your details and loan preferences - it only takes a few minutes.
Step 2
Get Approved
Our team reviews your application promptly and provides clear options tailored to your needs.
Step 3
Get Funded
Once approved, your funds are released quickly so you can move forward with confidence.
Your Future Starts Here
Zion Mortgage is simple, secure, and designed for your needs.
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