If you’re searching for the top mortgage options in Draper, Utah, you’re probably trying to figure out which loan type fits your budget, your long-term goals, and our unique local market. Draper is one of the fastest-growing cities along the Wasatch Front, with a mix of first-time buyers, move-up families, and luxury home shoppers. Knowing your mortgage choices can help you land the right house — and the right monthly payment.
1. Conventional Loans in Draper
Conventional loans are great if you have solid credit (usually 620+) and at least 3% down. In Draper, many buyers choose this route to avoid FHA mortgage insurance and take advantage of competitive rates. If you can put 20% down, you’ll skip private mortgage insurance (PMI) altogether.
Best for: Buyers with good credit, established income, and some savings for a down payment.
2. FHA Loans — Popular for First-Time Draper Buyers
FHA loans are backed by the Federal Housing Administration and are often the go-to option for Draper’s first-time home buyers. With just 3.5% down for borrowers with a 580+ credit score, FHA loans make it easier to get approved even if your credit history isn’t perfect.
Best for: Buyers with modest savings or lower credit scores who want a low down payment.
3. VA Loans for Draper’s Military Community
If you’re a veteran, active-duty service member, or eligible spouse living in Draper, the VA loan is tough to beat. Zero down payment, no PMI, and competitive interest rates make this one of the most powerful mortgage tools available.
Best for: Veterans and service members looking for the lowest upfront cost.
4. USDA Loans for Rural-Adjacent Draper Areas
Parts of Draper’s outer edges may qualify for USDA loans — which offer 0% down and low mortgage insurance if the property meets USDA eligibility.
Best for: Buyers looking just outside Draper city limits who want zero down.
5. Jumbo Loans for Draper’s Luxury Homes
With luxury homes and mountain estates in Draper, some buyers need jumbo financing (loans above standard conforming limits). Jumbo loans usually require higher credit (700+) and strong financials.
Best for: High-end buyers purchasing above $766,550 (2025 Utah conforming limit).
Tips for Choosing the Right Draper Mortgage
- Check your credit early — better credit = better rates.
- Consider your long-term plans — if you’ll move in 5–7 years, an ARM could save you money; if you’ll stay long-term, a fixed rate may be better.
- Get pre-approved locally — Draper-based lenders know the market and can help you compete in multiple-offer situations.
Why Work With a Local Draper Mortgage Expert
Mortgage guidelines can feel national, but local knowledge matters. At Houzd Mortgage in Draper, Utah, we understand the local housing market, lender overlays, and state-specific programs that could save you money. We help buyers compare FHA, conventional, VA, USDA, and jumbo loans — and we’ll guide you to the option that fits your budget and goals.
Bottom Line
If you’re exploring the top mortgage options in Draper, Utah, our team at Houzd Mortgage is here to help. We’ll walk you through your choices, show you how each option impacts your monthly payment, and create a clear plan to close with confidence.
Contact Houzd Mortgage today to start your pre-approval or schedule a quick strategy call.
Written by Anthony VanDyke, Utah Mortgage Broker — NMLS #247102 — President at Houzd Mortgage in Draper, Utah.
A mortgage broker since 2006, Anthony has helped thousands of Utah families build a stronger financial future, one home at a time. He believes a mortgage isn’t just a loan — it’s a long-term financial strategy that can shape a family’s wealth and peace of mind.
👉 See what you qualify for with Anthony’s Purchase Qualifier Tool.