Financing

Financing FAQ

• Do I need a downpayment?

  The more you put down, the lower your mortgage payment will be. In our Utah market, there are government backed programs and grants that allow you to buy a home with $0 down. Contact us for details on these options and to see if you qualify.

• What does my credit score need to be?

  You can obtain financing with as low as a 500 credit score—though additional down payment and income guidelines may apply. Typically, anything above a 640+ score, you’ll be able to obtain favorable loan financing with a competitive interest rate.

• Do I need a Pre-Approval Letter before buying a home?

  You need to be careful when making offers on homes without knowing exactly how you’re going to fund the purchase. If you neglect to get pre-approval from a lender, when it comes time to complete your purchase you might realize you actually can’t afford the home you’ve offered or contracted to buy. In the pre-approval process, we review your credit, income, and employment history to determine if you have the ability to repay the loan needed to fund your purchase. Chances are that you qualify easily for the home you’re interested—others may need to take certain steps to put themselves in a position to be able to qualify for the mortgage loan needed to purchase the home.

• Do I get FREE Moving Service when financing through the preferred lender?

  Yes, yes, and YES! Financing your home with our mortgage team? Call 801-999-0386 to schedule your movers! We cover your trip fee, the cost of two professional movers, and a 26′ box truck for 2 hours (restrictions apply so call for details). Scheduling priority is given to my clients, but make sure to call a couple of weeks in advance for your moving team to be reserved on the day you need them. We appreciate your business and make it our goal to make your new home purchase as smooth and easy as possible.

• Do I receive perks with using the preferred lender?

  Yes, of course! Please check with the local Wright Homes sales consultant, to see exactly what those incentives are for the specific community you’re interested in.