Short-Term Home Loans

Whether you're close to retiring, looking to remodel, or just wanting to get out of debt, a short-term mortgage from Deseret First can help get your house in order. Rates are the lowest they've been in years. Pay off your home faster, save thousands in interest.

Fixed Rate Products

  • 5 and 10-year terms. 
  • Loans held and serviced by Deseret First.
  • No Private Mortgage Insurance (PMI).
  • No upfront cost options. 

Balloon Loans

A Balloon Loan has a 6 year term with payments calculated like a 15 or 30-year loan. When the term of the loan is up, the remaining "balloon payment" is due. At this time, an option is provided to lock the interest rate at the present market rate for an additional 6-year balloon term, or pay the remaining balance in full.

  • 6 year term.
  • Loans held and serviced by Deseret First.
  • No Private Mortgage Insurance (PMI).

 With so many options available, let Deseret First help find the right loan for you. Call a Deseret First Mortgage Officer at 801-456-7070 or 1-800-326-3328 ext. 7070, M-F 8:30 am- 5:30 pm.

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Term Rate APR
10 Year Fixed 3.50% 3.50%
5 Year Fixed 3.25% 3.25%
6 Year Balloon (15 or 30 Year Amoritization) 3.25% 3.25%
 
10 year Fixed Payment-Monthly payments for a $180,000 loan with a 20% down payment and an interest rate of 6.00% (6.228% Annual Percentage Rate) would be $1998.37 for 120 months. The purchase transaction payment listed is an example only and does not include taxes or insurance premiums. Actual obligation amount may be greater. Membership and eligibility required, OAC.
 
6 year Balloon Payment-Monthly payments for a $180,000 loan with a 20% down payment and an interest rate of 6.00% (6.00% Annual Percentage Rate) would be $1079.19 for 60 months. On month 61, the final payment will come due in the amount of $167738.37. The purchase transaction payment listed is an example only and does not include taxes or insurance premiums. Actual obligation amount may be greater. Membership and eligibility required, OAC.


 



Save money on your mortgage

Our loan officers can help find the loan to fit your budget, for refinances or new purchases.
 
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visa credit cards that pay you

Deseret First has Visa Credit Card options that put money back in your wallet.
 
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Improved online banking

You can not only check balances and transfer money easily, but you can also use the enhanced budgeting tools, set savings goals and much more!
 
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