Mortgage in Clearfield, UT (2026)

Find the best mortgage rates in Clearfield, UT. In 2026, Clearfield, UT homebuyers have access to fixed-rate, adjustable-rate, and government-backed mortgage products tailored to their needs.

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Clearfield Overview

Clearfield is a key market in Utah with a population of 31,802 and a median household income of $65,000. The median home price stands at $450,000, shaping the local borrowing landscape.

Rates & Terms

VA loans available to veterans in Clearfield often feature the lowest rates and require no down payment or private mortgage insurance.

Adjustable-rate mortgages in UT start 0.5% to 1% lower than fixed rates but carry reset risk after the initial fixed period.

Requirements in Clearfield

Jumbo loans in Clearfield for amounts exceeding conforming limits require credit scores of 700+, larger down payments, and significant cash reserves.

All mortgage applicants in Clearfield must provide W-2s, tax returns, bank statements, and authorization for a credit check.

Utah Regulations

Utah has minimal interest rate regulation for licensed lenders.

  • Usury Limit: No cap for licensed lenders
  • Payday Lending: Legal, no specific cap

Local Market Insights

Clearfield has seen stable home values over the past year, making it a promising time to buy or refinance.

Local mortgage brokers in Clearfield, UT can access wholesale rates from multiple lenders, often beating retail bank offerings.

Borrowing Tips for Clearfield

  • Improve your credit score by 20+ points before applying; even small improvements can lower your rate significantly.
  • Save for closing costs in addition to your down payment; expect 2-5% of the loan amount for closing expenses.
  • Get pre-approved, not just pre-qualified; a pre-approval letter strengthens your offer in competitive Clearfield markets.

Frequently Asked Questions

How long does mortgage approval take in Clearfield?

Most lenders can issue a conditional approval within 3-5 business days. Full loan approval and clear-to-close typically take 30-45 days from application.

What is the current average mortgage rate in UT?

As of 2026, average 30-year fixed mortgage rates in UT range from 6.5% to 7.5%, while 15-year fixed rates range from 5.75% to 6.75%. Rates vary by lender and borrower profile.

How much down payment do I need for a house in Clearfield?

Conventional loans require 3-20% down, FHA loans require 3.5%, and VA loans require 0% down. The median down payment in Clearfield is approximately 10-15% of the purchase price.

Can I get a mortgage with student loan debt in Clearfield?

Yes, lenders factor your total debt-to-income ratio. Income-driven repayment plans on federal student loans can help keep your DTI within qualifying limits.

Important Disclaimer

LoanMatchers is not a lender and does not make credit decisions. We connect consumers with licensed lending partners. All loan terms, rates, and fees are determined by the lender and are subject to credit approval. APRs range from 5.99% to 35.99%. Not all applicants will qualify for the lowest rates. This website provides general information and does not constitute financial, legal, or tax advice. Consult a qualified professional before making financial decisions. Rates and terms are accurate as of 2026 but subject to change without notice.