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Home Loans

There are many reasons to consider a Home Equity Loan, Line of Credit or Mortgage Loan from Cyprus Credit Union.  Maybe you are looking to buy a new home, consolidate your debt, do home improvements, or need some extra cash to pay for college tuition.  No matter what the reason, we are here to educate you and focus on your needs so you can achieve your goals.

Visit our Mortgage Center for current rates and an easy online application. In the Mortgage Center you can lean about specific loan types, access payment calculators, meet our experienced staff, apply for a loan and much more.

Purchase Mortgage

Cyprus offers a wide range of purchase mortgage options to assist its members in buying a home.  Our programs cover every option from the first time buyer to a seasoned real estate investor.

FHA Loans- FHA (Federal Housing Administration) loans are the most common mortgage program used by first time buyers.  This allows a buyer to put as little as 3.5% down on the home.  FHA also allows for limited credit, lower credit scores and non occupant co-borrowers.  This loan can also allow the seller to pay most of the buyer’s loan closing costs.  To see how much home you qualify for, make sure you call one of our Mortgage Specialists today.

Conventional Fixed Rate Mortgage-  Cyprus offers a wide range of financing options for those who have decided to make the move to a larger home or find themselves needing to relocate. These programs require as little as 5% down payment. Call one of our Mortgage Specialists to find out more.

Investors- With as many homes that are currently available on the market, now is a great time for real estate investors to add to their portfolios. Cyprus offers extremely competitive rates and programs to help experienced members invest in real estate. Call one of our Mortgage Specialists today

Utah Housing- Utah Housing is a program sponsored by the state of Utah that allows certain borrowers to obtain a low fixed rate loan with no money out of pocket. There are specific income, credit and eligibility requirements to qualify for this product and it is specifically designed for first time home buyers. Call one of our Mortgage Specialists today.

Refinance Mortgages

Cyprus offers many different financing programs which allow our members to better manage both their mortgage payments and their other financial obligations.

Rate and Term Refinance-   Refinancing your current mortgage for a lower rate can save you money. The process is quick and easy and we’d be happy to review your current situation and suggest ways to streamline your expenses and reduce your monthly payments.Call one of our Mortgage Specialists to find out more.

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Short & Sweet Mortgage

Short-term mortgages at a sweet rate

A short term mortgage is a great way to pay off your home and save thousands of dollars in finance charges.

Our short and sweet mortgage loans require no appraisal and offer a fixed closing fee of $250, a significant savings over the costs and fees of a traditional 30 year loan. Your mortgage is held in-house at Cyprus Credit Union which ensures a quick loan closing and easy account and payment access at any branch, by phone or online through Home Banking. Call one of our Mortgage Specialists to find out more.

Apply Now Rates

Debt Consolidation

At Cyprus we understand that sometimes the financial challenges of life can take their toll and our members may need to simplify their debt payments into something a little more manageable.  We offer programs that can use the equity in a home to pay off debt and consolidate payments into one loan.  We offer programs that lend up to 85% of the value of a home to pay off outstanding debt.  To see how this program could reduce your monthly payments and help you get a handle on your outstanding bills, please call one of our Mortgage Specialists to find out more.

Apply Now

We can help you build the home of your dreams. We have years of valuable experience in this specialized field and can help make the building and financing process quick and easy for you. We know your time is valuable, that’s why we offer complete financing. Get approved for both your construction loan and permanent financing in one easy process.

Our customized construction loan program features and terms:

  • Fixed interest rate
  • Up to 95% LTV of appraised value
  • 100% funding of lot
  • Local underwriting- close in as little as two weeks
  • 8-12 month terms
  • 24-48 hour draw process
  • Mechanic lien waivers included with each payment
  • IRS 1099 forms completed for all unincorporated subs and suppliers
  • Cyprus Credit Union construction loans are only available in the state of Utah.
  • Get approved for both your construction loan and permanent financing at the same time.

Apply Now  Rates  Contact a Construction Loan Officer

Our construction loan fees:




1% of loan amount

Underwriting fee


Closing Fee


Inspection Fee

$55 per inspection

Savings Account Deposit




Title Fees


Credit Report Fee


If you are a contractor that would like to be an approved Cyprus contractor, you can complete our Builder Profile Form

Lot Loans

If you are ready to build but not ready for a construction loan, we offer competitive rates and terms on improved property.  Please contact Danielle Darke at (801) 260-7600 ext. 5331 to learn about current options.

Apply Now  Rates  Contact a Construction Loan Officer

Remodel Your Current Home

Cyprus will lend you the money to update, remodel or add on to your current home and base the approval on the “Finished Appraised Value.”  Now getting that new home you wanted can come with the same address and great neighbors you already have!


Contact a Construction Loan Advisor

Danielle Darke
(801) 260-7600 ext. 5331

Jordan Landing Branch


Fixed Rate 2nd Mortgage

A fixed rate 2nd mortgage is great for projects when you know exactly how much money you will need. You will receive funds in one lump sum, with the comfort of knowing your rate will remain the same for the duration of your loan. 

  • Fixed loan amount, rate, and payments
  • Repayment terms up to 15 years
  • Borrow up to 95% of your home’s equity**

Apply Now    Rates


Home Equity Line of Credit (HELOC)

A home equity line of credit is different from a second mortgage. Instead of receiving the approved sum up front you can borrow the money as you need it. Like a credit card you can continually borrow money but typically at a lower interest rate.

  • Borrow up to 95%** of your home's value
  • Draw period up to 10 years with a 5 year re-payment period
  • Monthly payment will be 1.25% of the balance, minimum of $50.00.
  • Advances available by Visa Card or Home Banking
  • Early Termination fee applies if credit line is closed within the first 2 years
  • Adjustable rate loan
  • These terms are subject to change without notice

Apply Now    Rates


Documents that you will need to apply (other documents may be required):

  • Most recent W-2 and paycheck stub
  • Two years of tax returns (if self-employed)
  • A current statement showing the balance of your first mortgage (if applicable)
  • Copy of 1st mortgage note
  • Homeowner's insurance statement


**We will loan up to 95% of the property’s value based on the evaluation or appraisal, minus 1st mortgage balance. If the appraisal is required, members must pay for the appraisal at the time it is ordered.  An appraisal is required on all loans with a loan to value in excess of 80% or if the loan amount exceeds $50,000. All investment and second home properties require an appraisal and are subject to third party fees.


Contact a Mortgage Advisor

Julie Bennett Riverton (801) 260-7600 x 5307
Josh Kramer Union Park (801) 260-7600 x 5308
Lisa Black West Jordan (801) 260-7600 x 5311
Jeremiah Carlson Midvalley (801) 260-7600 x 5303

Contact a Construction Loan Advisor

Danielle Darke Jordan Landing (801) 260-7600 x 5331
NMLS Registry Information for Cyprus Credit Union Mortgage Loan Originators
Contact a Mortgage Advisor for a current HMDA (Home Mortgage Disclosure Act) disclosure statement.