"You won't find a mortgage loan officer that cares more about finding the best lending option for you than Denise Fyffe! As the primary loan officer for mortgages at American United, she has always had our families best interest in mind. She takes the time to make sure I understand my options and will be the first to tell you if a competing offer is simply better than what she can provide. It's reassuring to know I have someone I can trust with the biggest financial obligation in my life."
American United FCU Member
Submit applicationHome Loan Rates
Rates up to date as of January 8, 2026. Rates subject to change without notice.
| All Home Loans | Term | APR |
|---|---|---|
| First Mortgage | 15, 20, & 30-years | Call 801-359-9600 for today's rates |
| First Mortgage | 5, 7, & 10-years | As low as 4.99%3 |
| Construction Loan1 | 1-year | As low as 6.25% |
| Lot Loan (Improved)2 | 2, 3, 4, & 5-years | As low as 7.00%3 |
| Lot Loan (Unimproved)2 | 2, 3, 4, & 5-years | As low as 8.50%3 |
| Home Equity Loan | 5, 7, 10, & 15-years | As low as 5.49%3 |
| Home Equity Line of Credit (HELOC) | 10-year Draw & 20-year Amortization | WSJ Prime Rate |
| HELOC Intro Rate (Limited-Time Offer) | 6-months | 3.99% |
APR = Annual Percentage Rate. Membership required, on approved credit, and rates subject to change at any time without notice.
1. Loan to Cost = 90%, Loan to Value = 80%.
2. Max Loan to Value of 80% on Improved Lot Loans and 60% on Unimproved Lot Loans.
3. Lowest rate available for shortest term offering only, please contact credit union for specific rate options based on term.
For more information visit Terms & Conditions, Current Rates, and Fee Details.
Understanding Conventional Mortgages
What is a conventional mortgage?
Two-thirds of American homes are financed using a conventional mortgage. This type of loan offers flexible terms and low-interest rates for applicants with a credit score of at least 740. Most conventional mortgage programs require a debt-to-income ratio of 45 to 50%, which means you spend less than half your monthly income on auto loans, credit cards, student loans, and other debt payments.
Because conventional mortgages aren’t guaranteed through the Federal Housing Authority or Veterans Administration, qualification requirements are more stringent. However, the application process is usually more streamlined than for a federal loan program, especially if you have a high FICO score.
This common type of home loan is guaranteed by a private lender rather than a federal agency and may carry a fixed or variable interest rate and a term of up to 30 years.
What are the benefits of this financing?
With a conventional loan, you can finance up to 95% of the property’s value. This puts a home loan in reach for those with limited down payment funds. In addition, down payment funds can be gifted from a parent or family member. Although private mortgage insurance is required for a down payment of less than 20%, the monthly premium is typically more affordable than with other mortgage programs. You can also drop your PMI payment when you reach at least 22% equity in the home, unlike with an FHA loan where PMI is charged for the life of the loan. Conventional loans are available for owner-occupied properties as well as for vacation homes and certain investment properties.
Why choose American United?
At American United Federal Credit Union, we’ve been helping Utah residents and other Americans with home financing since 1952. Our services are available to anyone who lives, works or attends school or church in Salt Lake and Tooele Counties, as well as the family members of those individuals. Get in touch today to learn more about applying for a conventional mortgage through our affordable home loan program.
Interested in a HELOC?
Use the equity in your home as collateral for any needed expenses.
- Home Equity Line of Credit (HELOC)
- 3.99% Intro Rate for 6-months (primary residence only)
- Variable Rate Loan
- 10-year draw & 20-year amortization
- Home Equity Loan
- Fixed Rate Loan
- 5, 7, 10, & 15-year terms available