Diversified Home Loans, Logan Utah

NMLS #1494

What types of home loans do you offer?

Diversified Home Loans offers a variety of home loan options, including Conventional Loans, VA Loans, USDA Loans, FHA Loans, Construction Loans, and Refinance.

What are the key differences between a fixed-rate loan and an adjustable-rate loan?

Fixed-rate loans have a constant interest rate throughout the loan term, providing predictability. Adjustable-rate loans have rates that can change periodically, often with lower initial rates but potential fluctuations.

What documents do I need to prepare for a loan application?

The required documents may vary, but generally, you will need items such as income verification, tax returns, bank statements, and credit history information. Our loan officers can provide a comprehensive list.

What is the down payment requirement?

Down payment requirements vary based on the type of loan and lender. Conventional loans may require 3% to 20% down, while FHA loans can have down payments as low as 3.5%. VA loans for eligible veterans often require no down payment.

What credit score do I need to get a mortgage?

The minimum credit score required varies depending on the type of loan. For conventional loans, a score of around 620 is often the minimum. FHA loans may accept lower scores, around 580 or higher.

What are closing costs, and how much should I expect to pay?

Closing costs are fees associated with finalizing the mortgage. They typically include appraisal fees, title insurance, attorney fees, and more. Closing costs can range from 2% to 5% of the home’s purchase price.

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