Primary Residential Mortgage, Inc. is a Utah based mortgage lending company that has been in existence for over 19 years. The company has more than 280 branch locations spread across the country and it has helped over 225,000 customers fulfill their homeownership goals.
Whether you need a low rate mortgage to purchase your first home or want to lower your existing mortgage payments with a refinance loan, Primary Residential Mortgage provides a complete range of mortgage options to choose from.
Having some ideas about the different features of various mortgage programs is crucial as this will allow to make a better decision while selecting the right mortgage plan. The loan officers of the company will be more than happy to assist you in finding a suitable loan program for you.
Primary Residential Mortgage Options
The company offers unique features and benefits with different mortgage programs and it is important to have some knowledge about them before choosing a particular loan term. To begin with, the company offers fixed rate mortgages that are available in two terms, 15 year fixed rate mortgage and 30 year fixed rate mortgage.
Some common features and benefits of 15-year and 30-year fixed rate mortgages include:
- Fixed interest rate and monthly payment for entire loan period
- Only 5% down payment requirement
- Put 20% or more down payment and avoid mortgage insurance
To assist low to moderate income families, Primary Residential Mortgage has FHA loans that require lower down payment compared to conventional mortgages. Fixed or adjustable rate options are made available with FHA loans and they offer several benefits to the borrowers. FHA mortgages are ideal home financing solution for first-time homebuyers and low to moderate income families.
For veterans, active duty military members and surviving spouses who need some helping hand, government backed VA loans are made available by the company. The best thing about this loan option is that you are not required to have a private mortgage insurance or put down a down payment to receive the loan amount. You can choose from various fixed or adjustable rate options and you will get 100% financing without any down payment requirements.
If your dream home is big and you need a loan amount larger than the conventional loan limits of $417,000, a jumbo loan is what you are looking for. You can get 15 or 30 year loan terms with fixed or adjustable rate options.
Adjustable rate mortgages are another way to take the advantage or lower interest rates in the mortgage market. This loan program offers fixed interest for a specific period of time and after this set period, the interest and the payment get adjusted every year.
Primary Residential Mortgage Payment and Customer Service
The company provides several convenient ways to make your monthly mortgage payments. You can pay your mortgage through ordinary mail at: Primary Residential Mortgage, Inc. PO Box 593
Salt Lake City, UT 84110