Utah Home Loans
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.
- 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.
- Investors- Cyprus offers extremely competitive rates and programs to help experienced members invest in real estate.
- 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.
- Rate and Term Refinance- Refinancing your current mortgage for a lower rate can save you money.
- Short & Sweet Mortgage- Short-term mortgages at a sweet rate
- Debt Consolidation- We offer programs that can use the equity in a home to pay off debt and consolidate payments into one loan.
- Customized Construction Loan Programs- Get approved for both your construction loan and permanent financing in one easy process.
- Lot Loans- If you are ready to build but not ready for a construction loan, we offer competitive rates and terms on improved property.
- 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.”
- 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.
- 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.
Cyprus CU Home Finder
Search for a home using our Home Finder tool. The Home Finder site specializes in assisting buyers and sellers all along Utah's Wasatch Front. Cyprus CU Home Finder contains ALL listings from ALL Real Estate Agents in the State of Utah.
Documents that you will need to apply
Please provide the following items to help us expedite your loan request. Information must be must be the most recent, consecutive and computer generated.
- One month of pay stubs
- Last two years of W-2’s
- Last two years of tax returns and schedules
- Last two months of bank statements for all accounts listed on the loan application (must be official statements not account history, printed eStataments will work)
Additional items needed if applicable
- If purchase mortgage please provide a copy of the sales contract
- If self-employed or owner of an LLC or corporation please provide 2 years of
- business returns or 1120 S cooperation tax return and K-1’s Divorce Decree
- If a bankruptcy, foreclosure, loan modification or short sale has occurred in the
- last 7 years please provide the appropriate documentation.
Home Equity Loans
- 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
Our mortgage advisors are happy to answer any questions you may have or provide advice on the home financing process. Contact our team at 801-260-7600 ex. 5340 or feel free to reach out to any advisor below.
We are one of Utah's most trusted credit union's and mortgage lenders. Cyprus Credit Union is the oldest active not-for-profit credit union in Utah and Salt Lake City.