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Make your dream of owning a home a reality. Whether you’re buying your first home or your retirement home, our mortgage experts will help you navigate the programs and loan options that work best for you.
We’re committed to getting you the best value with the best service around. Let us put our experience to work for you, and you can sleep soundly in your new home sooner than you might think.
Give us a call at 801-288-3197 with any questions or apply online by clicking the button to get started.
Traditional Mortgages are long-term loans provided by financial institutions, such as Granite CU, to help individuals purchase homes. They are known for their stability and reliability, making them an attractive option for many Utah homebuyers. One of the key advantages of obtaining a Traditional Mortgage from a local credit union is the potential for lower interest rates than those offered compared to commercial banks.
Traditional Mortgages, also known as conventional Mortgages, are the most common type of Home Loan used by borrowers to finance the purchase of a property. They are different from government-backed Mortgages, such as FHA or VA Loans, as they are not insured or guaranteed by any government entity.
Traditional mortgages also offer stability, a variety of loan terms, the potential for competitive interest rates, and the opportunity to build equity and homeownership. They are a popular choice for individuals seeking long-term financing for their home purchases.
These loans are a popular choice for individuals seeking long-term financing for their home purchases because they offer:
Consistent stability with a variety of flexible loan terms
The potential for highly competitive interest rates
The opportunity to build property equity and long-term wealth
| Loan Term | Rate* | Fee | APR* | Apply Today! |
|---|---|---|---|---|
| 30-Year Conventional | Traditional Mortgage Loan Application | |||
| 30-Year – 7/6 mo ARM | ||||
| 15-Year Conventional | ||||
| Reverse Mortgage | Call for details | Call for details | Call for details |
*APR is Annual Percentage Rate and are estimated on $400,000 loan amount with 80% loan-to value. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required options available. Other terms and conditions may apply.
Buying your first home in Utah can feel daunting, but Granite CU is here to guide you. We offer FREE informational seminars designed specifically for first-time homebuyers. Our local real estate loan experts will help you master planning, budgeting, and shopping for a home. You'll learn:
What are the exact steps of the home-buying process?
How do I calculate what I can afford?
Do I need a 20% down payment? (Spoiler: Usually, no!)
Which real estate loan is best for my budget?
Check the calendar to see when the next available seminar is scheduled.
A short-term refinance Mortgage offers Utah homeowners an excellent opportunity to expedite their Mortgage payoff and achieve significant cost savings in the process. By refinancing your existing Mortgage into a shorter loan term, typically ranging from 5 to 12 years, you can potentially pay off your home much faster and become Mortgage-free sooner than anticipated. One of the primary advantages of a short-term refinance is the ability to secure lower interest rates.
A short-term refinance enables this financial milestone sooner, making it an appealing option for those looking to shorten their Mortgage journey and achieve long-term financial freedom. If you’ve been paying on your home for a while, a short-term refinance can be a great way to accelerate your payoff and save money along the way.
Give us a call at (801)-288-3197 with any questions, or apply online by clicking the button.
| Loan Term | Rate* | Fee | APR* | Estimated monthly payment | Apply Today! |
|---|---|---|---|---|---|
| 5 years | $18.98 per $1,000 borrowed | Short-Term Mortgage Application | |||
| 7 years | $14.37 per $1,000 borrowed | ||||
| 10 years | 5.74% | 0.000% | 5.74% | $10.97 per $1,000 borrowed | |
| 12 years | $9.75 per $1,000 borrowed |
*APR is Annual Percentage Rate and are estimated on $250,000 loan amount with 80% cummulative loan-to value. Maximum Loan Amounts for HELOC’s & 2nd Mortgages – $500,000 up to 80% CLTV | $100,000 up to 90% CLTV | $50,000 up to 95% CLTV. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required options available. Discount points are available on select loans. Ask a loan officer to learn more. Other terms and conditions may apply.
Always get, review, and compare a “Good Faith Estimate” from your lender before you borrow money on a home.
Tap into the value you've built in your home. Whether you're looking to fund major renovations, consolidate high-interest debt, or cover unexpected expenses, Granite Credit Union offers flexible home equity real estate loans to help you access your cash at a great, low rate. Check out our Home Equity Loan solutions to find the one that’s right for you:
LowPay Home Equity
Enjoy all the benefits of a traditional HELOC with a shorter draw period of 5 years which allows a lower monthly payment. Granite Credit Union’s LowPay Home Equity option is designed to help you manage your finances with minimal monthly obligations. Ideal for budget-conscious homeowners.
5-year draw period
10-year repayment period
Lower monthly minimum payment
Traditional HELOC
Our traditional Home Equity Line of Credit (HELOC) provides a revolving line of credit with competitive interest rates and the flexibility to borrow as needed. Draw funds over a 10-year period, pay only for what you use, and enjoy peace of mind from more flexible spending.
10-year draw period
10-year repayment period
Convenience of a Visa credit card.
Second Mortgage Loans
If you prefer a lump-sum for a set expense rather than a revolving credit line, our Second Mortgage loans offer a fixed rate and payment structure for financial predictability. Use the funds for large purchases, major renovations, or life milestones.
Fixed interest rates and predictable monthly payments
No need to refinance your First Mortgage
Great for one-time expenses
Ready to put your home’s value to work? Give us a call at 801-288-3197 with any questions or apply online to get started.
| Loan Term | APR* | Rate Type | Estimated monthly payment | Apply Today! |
|---|---|---|---|---|
| HELOC | Variable | Greater of $100 or 1.50% of balance | Home Equity Loan Application |
*APR is Annual Percentage Rate. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required. Maximum Loan Amounts for HELOC’s & 2nd Mortgages – $500,000 up to 80% CLTV | $100,000 up to 90% CLTV | $50,000 up to 95% CLTV Other terms and conditions may apply.
On Variable Rate loans, the index is based on the “U.S. Prime Rate” as listed in the “Money Section of the Wall Street Journal on the third Wednesday of March, June, September, and December plus a margin to be disclosed in your closing documents. The APR will never be greater than 18.00%. Any interest rate increase will result in more payments of the same amount until the amount owed has been repaid.
| Loan Term | APR* | Rate Type | Estimated monthly payment | Apply Today! |
|---|---|---|---|---|
| 5 years | Fixed | $19.33 per $1,000 borrowed | Second Mortgage Application | |
| 7 years | Fixed | $14.84 per $1,000 borrowed | ||
| 10 years | Fixed | $11.61 per $1,000 borrowed | ||
| 12 years | Fixed | $10.55 per $1,000 borrowed | ||
| 15 years | Fixed | $9.26 per $1,000 borrowed |
*APR is Annual Percentage Rate. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required. Maximum Loan Amounts for HELOC’s & 2nd Mortgages – $500,000 up to 80% CLTV | $100,000 up to 90% CLTV | $50,000 up to 95% CLTV Other terms and conditions may apply.
On Variable Rate loans, the index is based on the “U.S. Prime Rate” as listed in the “Money Section of the Wall Street Journal on the third Wednesday of March, June, September, and December plus a margin to be disclosed in your closing documents. The APR will never be greater than 18.00%. Any interest rate increase will result in more payments of the same amount until the amount owed has been repaid.
*APR is Annual Percentage Rate. Membership eligibility required. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required. Maximum Loan Amounts for HELOC’s & 2nd Mortgages – $500,000 up to 80% CLTV | $100,000 up to 90% CLTV | $50,000 up to 95% CLTV Introductory rate offer available when you open a new Home Equity Line of Credit. Introductory rate will change to current risk-based rates after introductory period ends. Other terms and conditions may apply.
On Variable Rate loans, the index is based on the “U.S. Prime Rate” as listed in the “Money Section of the Wall Street Journal on the third Wednesday of March, June, September, and December plus a margin to be disclosed in your closing documents. The APR will never be greater than 18.00%. Any interest rate increase will result in more payments of the same amount until the amount owed has been repaid.
Building your custom dream home in Utah? Our Construction Real Estate Loans free you up to focus on the design while we handle the financing.
We process draws quickly (usually within 48 hours) to keep you on schedule, and our low closing costs and low fixed rates let you put more toward that dream closet or landscaped backyard.
Let us hammer out the details so you can spend more time making your dream a reality.
Give us a call at (801)-288-3197 with any questions, or apply online by clicking the button below.
| Loan Term | APR* | Origination | LTV | Apply Today! |
|---|---|---|---|---|
| Construction < 12 months | Construction & Lot Loan Application | |||
| 30/5 balloon lot loan | ||||
| 30/2 balloon lot loan | ||||
| 10-year lot loan |
*APR is Annual Percentage Rate. Loans offered on approved credit, not all applicants will qualify. Rates and terms may vary based on credit profile and credit union services used. Rates and terms subject to change without notice. No down payment required. Other terms and conditions may apply.
**Subject to change with changes in variable rate.
1.00% origination
Quick draws
Flexible funding
Lot loan options
Easily convert to a low-fee mortgage
There are lots of misconceptions about Reverse Mortgages, but they can be a highly effective financial tool. With over 20 years of local experience, Granite CU is here to answer your questions and help you decide if a Reverse Mortgage is the right asset to enhance your retirement.
Reverse Mortgages are unique loan products designed for homeowners aged 62 or older with significant equity in their homes. Unlike Traditional Mortgages, Reverse Mortgages allow homeowners to convert a portion of their home equity into loan proceeds, which can be received as a lump sum, fixed monthly payments, a line of credit, or a combination of these options. What sets Reverse Mortgages apart is that borrowers are not required to make monthly Mortgage payments.
Many seniors use a Reverse Mortgage to supplement their retirement income, cover healthcare expenses, or solidify their financial security. It provides a reliable source of funds so you can comfortably age in place.
To find out if a Reverse Mortgage is right for you, give Tom a call at (801) 597-2700 or fill out the form below to request a callback.
We offer FREE informational seminars right here in Utah. Our local Mortgage experts will help you understand all your options so you can confidently decide whether a Reverse Mortgage Loan is the best choice for you.
Check the calendar to see when our next available seminar is scheduled.
Click the image below to view the full disclosure from the U.S. Department of Housing & Urban Development
This ad is not from HUD or FHA and was not approved by HUD or any government agency.
