Ivory Homes
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Mortgage Financing, Rates, and Incentives

You have a lot of choices when taking out a mortgage. Each type of home loan is designed for different financial scenarios, and affects the amount of your down payment and your interest rate. Knowing which home loans are available and how much you can afford is necessary to navigate your homebuying journey.

Mortgage Calculator
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Buyer Journey

Comparing types of home loans

Mortgages are categorized based on the loan amount, whether or not they are government-backed, and personal circumstances.

CONVENTIONAL

Conforming

  • Most common loan type

  • Stricter requirements than FHA

  • Down payments less than 20% require mortgage insurance

  • Maximum loan amounts vary by location

Nonconforming (jumbo loans)

  • For loan amounts above the conforming maximum

GOVERNMENT

FHA

  • Requires 3.5% down

  • Lower credit score threshold

VA

  • For veterans, active-duty troops, or surviving spouses

  • Assumable by non-military 

USDA

  • For low- to middle-income homebuyers in rural areas

SPECIAL PROGRAMS

State/Local Housing Agencies

  • For low- to middle-income borrowers, first-time homebuyers, or public service employees

Non-traditional

  • Recent credit issues such as a foreclosure or bankruptcy

  • Hard-to-document income

New-construction financing and streamlined qualification for Utah homebuyers.

Momentum Loans (NMLS #1606597) is the preferred mortgage lender for Ivory Homes. Momentum loan officers can help you decide on the most appropriate loan type  and obtain the best available rate based on your current circumstances and future goals. 

Contact Momentum Loans
Buyer Journey

Understanding mortgage interest rates

Interest rates are categorized as fixed or adjustable. Don't like the current mortgage rates? Buydowns may be available to lower your rate. Speak with a loan officer for more information on buydowns and promotional rates.

Fixed Rates
  • Rate does not change over the life of the loan
  • Higher interest rate
  • Lower long-term risk
Adjustable Rates
  • Lower initial interest rate
  • After introductory period, rate can increase or decrease depending on the market
  • Some adjustable rate mortgages have rate caps
  • Less expensive in the short term
Discount Points
  • Pay an upfront fee to obtain a lower interest rate
  • Can be temporary or permanent reduction
  • A single discount point usually costs 1% of the total mortgage amount for a permanent reduction
FINANCING

Can I afford it? Let’s find out.

Use our calculator to estimate your monthly payment based on current rates and your budget. No commitment required.

ESTIMATED PAYMENT
Loan amount $360,000 · 4.99% · 30-year fixed
$1,930/mo
Principal & Interest only. Does not include taxes or insurance.
Visit one of our Upcoming Open Houses

November Events

  • Nov14Coalville: Redhill Grand Opening Join us for the grand opening of our Coalville community featuring workforce housing cottages and more with prices from the mid 500s. Enjoy home tours, raffles & free lunch from the Corndog Company!812 S Hoytsville Rd, Coalville, UT 84017
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  • Nov14St. George: Avenidas Open HouseAvenidas features a variety of ramblers and two-story homes in a stunning red rock community with pools, parks, and pickleball courts.52 Dakar Ln, St. George, UT 84790
    See more Details
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Frequently Asked Questions

We’ve got answers

Common questions about home loans from people just like you.

Still have questions?

Contact a Sales Agent

In their words

A real homebuyer raves about the personal attention he received from Ivory Homes and Momentum Loans.

The entire staff was very helpful with our situation and accommodating with our needs. They were all friendly and personable. Derek was so good at helping us look at the different options and navigate what would fit well with our needs and life. Lance, our loan officer, took the time to chat with me over the phone and help us look at the different options to help us get the best rate and loan. He too made a point of being personable and was warm and friendly every time we chatted. Allen, our super went above and beyond making sure things were done to a high standard and even saw things that needed to be done that might have been overlooked by other contractors. He took the time to get to know us and we are so grateful for the personal connection he added. Overall, we are extremely grateful for the personal touch and care that we were given through the entire process. We are thrilled with our new home!
David Cox
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