Salt Lake City Beehive Credit Union offers many Utah mortgage loans. Fixed-rate, adjustable-rate, balloon, interest-only and reverse mortgages are among the most common types of home loans.

A fixed-rate loan retains the same interest rate throughout the life of the loan. Interest rates are at record lows, so now is a great time to lock in a low rate. You can apply online or check the current rates on our home website at http://beehivecredit.com/ .

The interest rate on an adjustable-rate loan changes throughout the life of the loan. Each time the rate adjusts (either higher or lower) the monthly payment amount changes also. The interest rate on an adjustable rate loan is tied to a market index; the LIBOR and Prime Rate are two of the most common.

A Balloon Mortgage is a loan that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due or is refinanced by the borrower. The monthly payment amount prior to the balloon payment does not fluctuate.

The Salt Lake City Beehive Credit Union website has countless tools to help you research and apply for a mortgage loan.

In the world of loan financing, many confusing terms are floated about. Utah lenders are asked about the terms ‘income mortgage stated’, ‘wholesale loan’, ‘income loan stated’, ‘80 20 loans’, and ’second loans’. Contact one of our Salt Lake City loan specialist at 801-484-8811 for an explanation of these often misunderstood terms.

See our Salt Lake City Beehive Credit Union website for 30 year fixed rates and 15 year fixed mortgage rates.

• Salt Lake City Beehive Credit Union
• http://www.beehivecredit.com/contact_locations.shtml
• 1467 S. Main St
• Salt Lake City, Utah 84115
• 801-484-8811