First-Time Homebuyers Affordable Mortgage Through Zion's Bank

As a local bank, Zions Bank has committed to serving its community and has introduced an innovative mortgage product designed specifically for first-time home buyers in the Utah Real Estate Market. This Affordable Home Mortgage product was created to cater to borrowers who meet specific income criteria or for properties that qualify under their specialized underwriting guidelines, emphasizing Zions Bank's dedication to its local customers.

Benefits of Zions Bank's Affordable Mortgage:

• Low Down Payment: This mortgage requires only a 3% down payment, making homeownership more accessible for those without a large nest egg. This feature alone is a game-changer in the current real estate market, where conventional loans often demand much higher down payments and where all buyers struggle saving a down payment ready to use.
• Lender-Paid PMI: One of the standout features of this program is that Zions Bank covers the Private Mortgage Insurance (PMI) upfront, leading to a substantial monthly savings for the homeowner. This can mean a reduction in monthly mortgage payments by $200 to $400, providing significant financial relief and better qualification opportunities.
• Competitive Interest Rates: Borrowers can often secure better rates on this program compared to other 30-year loans with 97% Loan-to-Value (LTV) ratios. This competitive edge can save you money over the life of your loan.
• Closing Cost Assistance: For those who qualify under certain conditions, Zions Bank also offers closing cost assistance, further reducing the financial burden at the outset of home buying and allowing buyers to use more of their savings for a down payment.

Why Now is the Perfect Time:

The real estate market in Utah, particularly in areas like Davis County, Weber County, and Salt Lake County, tends to slow down right before spring. This period can be advantageous for buyers as sellers might be more willing to offer concessions. With Zions Bank's Affordable Mortgage, first-time home buyers have an exceptional opportunity to enter the market under more favorable conditions.

Highlighted Property:

One property that perfectly aligns with this mortgage product is MLS number 2063658 at 1107 N Fort Ln, Ogden, UT. Available on markhansenrealtor.com, this home not only qualifies for Zions Bank's Affordable Mortgage but also represents the kind of property that can benefit from the program's advantages.

Summary:

For first-time home buyers looking in Utah, Zions Bank's Affordable Mortgage stands out as one of the most supportive and beneficial programs available today. With features like low down payments, lender-paid PMI, competitive rates, and potential closing cost assistance, now is an excellent time to consider buying your primary residence. Check out our listings for homes for sale in Davis County, Weber County, and Salt Lake County, and explore open houses to find your dream home with the ease and affordability that this mortgage product provides.