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Mortgage lenders offer varying interest rates and have different requirements to qualify for a loan. New buyers should shop around for the best mortgage rates in Utah, since small differences in interest rates make a big long-term impact.
If cost is a big concern when buying your home, consider starting your search in one of these five areas in Utah recognized for having a low cost of living.
Brigham City is ranked by Niche as one of the best places to buy a home in Utah. It also offers ample recreational activities at spots including Sardine Canyon, Willard Bay State Park, and Bear River Migratory Bird Refuge. Median home prices of $181,500 are below the national average of $217,500, and 67% of town residents own their homes. Property taxes in Box Elder County are relatively affordable, averaging 0.59% of a property's assessed fair market value, according to Tax-rates.org.
Vernal has a population of around 10,600, and most residents -- 55% -- own their homes. Vernal's median home value comes in at $166,400. The town is in the top 35 most diverse places in the state, and it ranks 76th for the best places in Utah for young professionals. Property taxes in Uintah County average 0.51% of a property's assessed value.
Roy is a suburb of Salt Lake City. Niche ranks it as one of the best places for young professionals and as one of the most diverse suburbs in Utah. This affordable town has a population of just over 39,000, and 84% of residents own their homes. The median home value is a little below the national average at $191,800, and property taxes in Weber County average 0.77% of a property's assessed fair market value.
South Ogden is another suburb of Salt Lake City, and it ranks 30th among best Utah suburbs in which to purchase a home and in the top 20 places to retire. Local attractions include South Ogden Nature Park, Mount Ogden, and Waterfall Canyon Trail. The median home value is a bit higher here at $213,800. South Ogden is in Weber County, where property taxes average 0.77% of assessed fair market value.
Ogden is home to more than 86,000 Utahns, and has been recognized for its diversity and affordability. It's also among the top places for young professionals, according to Niche. Ogden has a median home value of $170,100, and 58% of residents own their homes. Ogden is he third town on our list in Weber County, where property taxes average 0.77% of assessed fair market value.
These are just some of many places in Utah where you may want to look for your new home. If you buy in a place with a low cost of living and shop carefully for the best mortgage rates in Utah, you may be able to purchase a home well within your budget.
If you want to uncover more about the best mortgage lenders for low rates and fees, our experts have created a shortlist of the top mortgage companies. Some of our experts have even used these lenders themselves to cut their costs.
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