The State of Utah has funded Mortgage 850 to help more Utah homebuyers improve their home purchasing power. Christine Flores with KUTV (CBS) in Salt Lake City reports about a young couple who utilized Mortgage 850 which has given them a roadmap to homeownership.

Most homebuyers are ending up with a higher interest rate than what is the lowest interest rate. A recent review of over 1,600 mortgages in 2025 discovered that 68% of those mortgages had a higher than the lowest interest rate offered at that time.

Mortgage 850 offers analysis and insight for homebuyers not found with any traditional mortgage lenders. It has gain the respect of Utah lawmakers to bridge the gap between unaffordable and homeownership.

Over the last 18 months, interest rates have taken a hard hike higher evaporating the dreams of many. The question is asked, when will interest rates decline? There are some indicators to give everyone some ideas.

Everyone wants to get the lowest interest rate on a mortgage when they purchase or refinance a home. Many consumers think a minimum 720 credit score will qualify them for the lowest interest rate. More savvy consumers realize that that credit score requirement is 740. Now that number is being raised to 780 for the most popular mortgage loans. There are a few other new criteria in order to get the lowest interest rate. What does this mean for prospective home buyers and those looking to refinance their mortgage? Things are changing!

Nate was looking to purchase his very first home sometime within the next six months. He contacted a realtor who told him to go to a lender to get pre-approved for a mortgage. This is a common practice, but there is a BIG PROBLEM and it is one that could easily cost you lots of money. For Nate, it cost him almost two thousand dollars because he went beyond the 90-days and he was at 719, costing him lots of money. It can easily happen to any homebuyer.

When shopping for a home, your realtor will tell you to go get qualified. This could be a mistake, depending how long it takes you to find a house. Mortgage loan officers never discuss this with new borrowers. But, it is something that can come back and cost you a lot of money.