A mortgage is simply a loan for a house payment. Because of the huge dollar amount you will usually be required to put down a percentage of the total value of the home cost. So if you are buying a $100,000 dollar home you may need to put down 10% which would be $10,000 dollars. In Utah you should always look for credit unions as the place for your loan. Many times they can give better values than banks. Utah also has a lower average than the rest of the nation so look for a better deal than what your friend in some other state got. The percent you have to put down depends on your credit. Every state has a different interest rate and it is in your best interest (no pun intended) to take the time to find the best interest rate because each percentage results in a lot of money paid by you in the long run. Utah will usually have an interest rate that is lower than the national average, so make sure you don't accept the first offer you see.An FRM is a fixed mortgage rate and will be the same through the whole loan. Utah has a branch called UCCU which stands for Utah community credit union and they usually have the best loans you can find in the state for loans.
www.itcas.org