15 Years
30 Years

Should you refinance your mortgage?
Mortgage interest rates have dropped to unheard-of lows, presenting a rare opportunity for those who want to refinance and can act quickly.

By locking in today's low rates, you may be able to save thousands on your mortgage by shortening your term, or lower your monthly payments without extending your term.

Could you benefit by refinancing into a lower rate? Use our calculator to the right to get a general idea. Then contact a Bank of Utah mortgage expert to assess your specific situation.

If you're thinking of refinancing, don't wait. These rates may not last, so we encourage you to lock in your rate as soon as possible. Bank of Utah is ready to back you up by helping you close your mortgage in as little as 10 business days. Contact us now


This mortgage calculator is meant to provide you with a general financial picture. We cannot guarantee its accuracy or applicability to your circumstances. We encourage you to discuss your situation with an experienced loan consultant. To obtain mortgage rate and payment information based on your specific situation, call us at 800-516-5559, select a Bank of Utah loan consultant or begin the prequalification process.

Rates shown are intended as market indicators only, are time-delayed and may change without notice. Rates, APRs and fees displayed assume excellent credit, a $250,500 loan amount for an owner-occupied, single-family residence in the state of Utah. Your actual APR and fees may vary depending on your credit history, loan amount, combined loan-to-value ratio and loan program.

The Conventional 15 Yr. Fixed at 3.125% (3.314% APR) with a 80% LTV would require 180 monthly payments of $1745.01. The Conventional 30 Yr. Fixed at 3.875% (3.983% APR) with a 80% would require 360 monthly payments of $1177.94. The monthly payment includes principal and interest payments only. Required monthly escrows for taxes and insurance are not included. If your down payment is less than 20% of the purchase price or appraised value, whichever is applicable, Private Mortgage Insurance may be required and will increase your monthly payment.

The FHA 30 Yr. Fixed at 3.625% (4.239% APR) with a 97% LTV would require 360 monthly payments of $1168.11. The Utah Housing 30 Yr. Fixed at 4.100% (4.722% APR) with a 97% LTV would require 360 monthly payments of $839.92. The FHA and Utah housing payments excludes any applicable FHA mortgage insurance premium which would increase your monthly payment.

You must first apply to be considered for a mortgage loan. This is not a commitment to lend.
Refinance Monthly Payment Calculator
(For Illustrative Purposes Only)
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