| Maybe you are buying your first home in Utah, or | | | | was $236,000, and in St. George, Utah, it was |
| perhaps you are relocating to Utah from another state. | | | | $200,000. |
| Either way, it's important that you educate yourself on | | | | In Utah, mortgage financing and regulation are |
| Utah home loans before shopping for a home and | | | | monitored by the Mortgage Lending and Servicing Act. |
| mortgage. This article explains what you will need to | | | | Lenders and brokers are not allowed to charge Utah |
| know before buying a home in Utah: | | | | borrowers any fees while the loan is being processed. |
| The median price of a home in Utah is $146,100. | | | | Additionally, at loan closing, the lender must supply the |
| Recently, homes in Utah have been appreciating at | | | | borrower with any information regarding the balance |
| rates below the national average. Therefore, | | | | of an escrow account, unpaid balance of the |
| affordability is favorable in the state of Utah. Interest | | | | mortgage loan, and date and amount of all payments |
| rates in Utah are below the national average, and job | | | | credited to the borrower's account. |
| growth rates are the third highest in the nation. | | | | Utah residents qualify for both state and federal |
| The price of homes in Utah varies widely between zip | | | | housing programs. The state of Utah offers below |
| codes. For example, in Salt Lake City, Utah, the median | | | | market interest rate loans to low or moderate income |
| price of a home in the summer of 2005 was $262,000; | | | | residents who purchase homes in qualified rural areas. |
| however, in Provo, Utah, the median price of a home | | | | |