Short Term Mortgages in Utah

Pay Off Your Home Quick
short term mortgage for house

UFCU offers competitive short term mortgage rates starting at 3.99% APR!* Pay off your home quickly and save thousands of dollars by refinancing your existing mortgage to a short term mortgage.Second mortgages offer competitive rates for homeowners looking to refinance their home, and no closing cost options can help you save even more.

Apply for a short term mortgage


Benefits of a Short Term Mortgage Loan Through UFCU 

This loan is perfect for those looking for an option to refinance their mortgage to decrease their loan term and reduce monthly payments. Short term mortgage loans allow you to pay off your loan sooner as well as spending less money doing so. Apply for a short term mortgage loan today and use these savings to do more things you love with the people you love!


Frequently Asked Questions for Short Term Loans


How do I qualify for a Short Term Mortgage Loan?

Lenders use your credit history to determine your eligibility as well as your loan terms. While some lenders are willing to work with borrowers who have poor credit, you’ll generally need good to excellent credit to qualify for the lowest interest rates. You will also need verifiable income. Lenders want to see that you can afford a new loan in addition to any other debt you might have.


What is a short term collateral loan?

A short term collateral loan can offer a lower interest rate or larger loan amount than with an unsecured loan like a credit card. In some cases, it may be the only option for a borrower who has either a short or unsteady credit history. It can also apply to those whose income is too low to qualify for an unsecured loan.


What is the shortest term mortgage you can get?

If you have been using a mortgage calculator to search or are looking for lower interest rates on a home loan, you may have noticed you can save significantly on interest with a shorter-term mortgage. One of the shortest mortgage loan terms you can get is an 8-year mortgage.

Ready to get started? Apply for a short term loan today, with University Federal Credit Union.


Loans subject to credit approval. See current rates and terms. No-Fee First Home Mortgage financing will require a minimum of a 20% down payment. For example a $100,000 loan approved at 80% of value would require a down payment of $20,000. The minimum payment for a $80,000 loan with a 4.49% APR and 12-year term is $719.62.  The minimum payment for a $80,000 loan with a 2.99% APR and 5-year term is $1,437.15. Your actual payment may be higher. The monthly obligation will be determined by the total loan amount at the time of closing and the term and interest rate of the loan. See our Loan Calculators for specific examples.  Closing costs waived include origination, processing, underwriting, tax service, appraisal, credit report, and title fees.  You may prepay your loan at any time without penalty. In the case of Home Equity Line of Credit (HELOC), Equity Loan, or a no-fee first mortgage loan, we may require repayment of the hard costs if the loan is paid off within the first two years.