Utah VA Home Loan Mortgage Rates – Cheaper Than Conventional
| VA Home Loan | Conventional | |
| 15 Year Fixed | 6.26% | 6.87% |
| 30 Year Fixed | 5.79% | 5.87% |
*Provided are numbers updated as of 12-JUL-2025. See here for rates updated daily.
VA Loan Calculator – Know What You Can Afford
A mortgage calculator is vital to understanding affordability of any mortgage. You can estimate monthly payments based on loan amount, interest rate, and loan term. Further, these tools allow you to easily factor in other expenses such as funding fees, taxes, and insurance. Linked below are two excellent calculators I highly reccomend you check out. Just remember, as with any tool, make sure you know how to use it—garbage in, garbage out.
Don’t know your specific Property Tax Or Homeowner’s Insurance Rates?
- Average Utah Homeowner Insurance Rate as of July 2025: ~$350 per $100,000 of home value
- There are just as many factors that can influence insurance premiums as there are for determining lending rates–claim history, location, age and features of the house, credit, etc…
- Make sure to obtain quotes for an accurate number for your situation
- There are just as many factors that can influence insurance premiums as there are for determining lending rates–claim history, location, age and features of the house, credit, etc…
VA Loan Requirements – Who Is Eligible?
- Veterans
- Must have met minimum time in service requirements
- Active Duty Service Members
- Must have served having served 90 days or more without a break in service
- Some Surviving Spouses
Click Here for Specifics on the Eligibility of Spouses and Veterans
In order to obtain a VA home loan, you’ll need a certificate of eligibility (COE) which will provide proof of the above military eligibility. Either you can do this yourself or your lender can assist you.
Don’t forget, sufficient proof of income still applies.
VA Mortgage Funding Fees – Caveat Emptor
While VA loan rates are typically 0.25% to 0.5% lower than conventional loans, they come at a cost of a funding fee not typically seen on conventional home loans. This fee is a one-time cost applied as a percent of the loan that is rolled back in to the total value of the loan itself or paid in full at closing.
For surviving spouses, those with >10% VA disability or members currently on active-duty awarded the purple-heart, this fee is waived. But, for the rest of us, expect to fork out.
*Plug for Utah’s Purple Heart recipients: Utah’s state institutions of higher learning will waive tuition for eligible members.
| If your downpayment is… | Your VA funding fee will be… | |
| First Use | Less than 5% | 2.15% |
| 5% or more | 1.5% | |
| 10% or more | 1.25% | |
| After First Use | Less than 5% | 3.3% |
| 5% or more | 1.5% | |
| 10% or more | 1.25% |
One asking for the BLUF might ask, is the VA home loan still cheaper despite this fee? That’s a question only answered by running the numbers. That said…
Should you look to provide a sizable downpayment, have excellent credit, plan to stay in the home long term, not be exempt from the VA funding fee, or be looking at significantly expensive homes, conventional loans will be more attractive offer relative to the VA Home loan. Be an informed buyer for what might be the largest purchase of you life — Run the numbers.
Refinance Mortgage Rates – Use a VA Loan to Save or Get Cash
VA refinancing includes Interest Rate Reduction Refinance Loans (IRRRL) and cashout options. IRRRL allows you lower the interest rate. Cash-out refinancing lets you tap into
home equity. While similarly available under other loan types, the VA loan options require
less paperwork and, like their conventional counterparts, are generally cheaper to execute. A calculator like the one below can assist in showing monthly and loan term savings.
VA Loan Limits and Other Key Benefits
VA loan limits in Utah are set by county. In high-cost areas like Park City, limits may exceed $1 million. If this is your first VA home loan, or are among other qualifying conditions, you may be eligible to waive the loan limit. Other key benefits include no required down payment, no private mortgage insurance (PMI), lower interest rates, and more flexible credit standards. These features make VA loans highly attractive compared to Federal Housing Administration (FHA) or conventional alternatives.
2025 Limits:
- Summit (Park City) and Wasatch (Heber) Counties: $1,149,825
- Salt Lake, Davis, Weber, Utah & Washington (St. George) Counties: $806,500 (standard limit)
How to Use a VA Loan in Utah
Start by using a VA loan calculator to determine your budget. Then check daily rates and get preapproved through one of Utah’s many VA approved lenders for a no hassle understanding of what you qualify for. Do your due diligence by reading this article and others like it to smartly maneuver your way through the decision to buy or not.
From estimate to closing, VA loans are designed to simplify the home buying process for Utah veterans.
About and Comments from the Author
The author is currently serving in the US Navy and holds an MBA from the University of Utah. This article was an attempt to impart knowledge to the interested reader looking to buy in Utah and is eligible for the VA Loan. While certainly no expert in VA home loans himself, the information shared above is what the author sought and found necessary for his own journey of understanding the VA home loan himself. Utilize this article as well as various other resources online and throughout Beehive state to understand your options. Nothing beats an education on the topic prior to what can be the largest purchase of your life.
