A conventional mortgage is a loan that is neither insured nor guaranteed by the federal government. It adheres to the guidelines set in place by Fannie Mae and Freddie Mac, and is able to have either a fixed or adjustable rate mortgage. Limits vary depending on state regulations.

Loans vary depending on particular situations, however if you have a high credit score and are able to make the down payment requirements (anywhere from 5 to 20%), and are looking for a larger loan, then a conventional loan would likely be a good choice for you.  Conventional loans come with more flexibility and don’t require mortgage insurance if the loan to value is less than 80%. In many instances, conventional loans come with better interest rates, to boot.

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Refinancing your mortgage is a process which pays off your existing mortgage and replace it with a new mortgage which supplies you with more favorable conditions, whether it be a lower interest rate, different terms, or a lower monthly payment – likely a mixture of all three. It can also be a useful option if you have previously held two mortgages (primary and secondary), wherein they could be paid off and replaced with one mortgage.

Those wishing to replace their existing mortgage with one that holds more favorable terms, whether a better interest rate, a lower payment (with longer terms) or shorter terms to pay your mortgage off more quickly. Refinancing could also take a conventional loan to an FHA loan. Whether refinancing is the right choice for you depends upon your individual circumstances, and best discussed with an mortgage professional. Good thing you know one of those.

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A jumbo mortgage is a type of financing that exceeds the amounts of  conforming loan limits generally set by the Federal Housing Finance Agency. Because it is beyond the limits secured by Fannie Mae or Freddie Mac, it is not federally guaranteed. Jumbo loans are available to help finance luxury properties.

A jumbo mortgage is a type of financing that exceeds the amounts of  conforming loan limits generally set by the Federal Housing Finance Agency. Because it is beyond the limits secured by Fannie Mae or Freddie Mac, it is not federally guaranteed. Jumbo loans are available to help finance luxury properties.

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An FHA loan works well if you’ve had a bit of trouble with your credit, and your score may be just a little less than idea. An FHA loan offers easier qualifying guidelines in relation to your credit score.  This loan is secured and guaranteed (although not financed) by the Federal Housing Administration (FHA). Because the loan is secured, even in relation to less than perfect credit scores, borrowers are still able to get competitive interest rates.

If you have less than perfect credit scores, you may still qualify for an FHA loan. Additionally, FHA loans require a significantly smaller down payment requirements than conventional mortgages – and down payments can be received as gifts, frmo family members, employers, or even charitable organizations.

One consideration with FHA loans is the requirement of holding a mortgage insurance for 5 years, – gathered in monthly installments.

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USDA Home Loans offer 100% financing on a fixed 30-year-loan depending upon the appraised value of the home, and can include the guarantee fee within the financing. No down payment is required, and interest rates are generally competitive. Lender fees and closing costs may also be included in the loan.

A USDA Home Loan is for low-to-moderate income buyers who want to purchase a home in a rural area. Both first time and experienced home buyers can utilize a USDA Home loan. USDA loans are backed by the federal government. All homes purchased under a USDA home loan must be in an eligible rural area, defined by the USDA (U.S. Department of Agriculture), and have a household income that isn’t greater than the limits wherein the home is located.

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Utah Housing Corporation loans exist to help with downpayment assistance for those who may otherwise be unable to afford to finance their own home. For limits, visit the UHC website here.

Loans vary depending on particular situations and income limits. For more information, contact me and we’ll look over all your options.

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Kristel Gough has focused her professional – and personal – life on the expectation of personal excellence. She believes that you have the power to control your own success, and the key to measuring that success is doing the best you can.

This shows in her exceptional career history within the real estate industry – first, as one of the top producing mortgage lender teams in the state of Utah for 22 years, and, since 2016, as a licensed Real Estate Agent. She has chosen this career path because of the unparalleled level of reward that working with both clients and colleagues provides. Utah is an exceptional place to live, and it’s her absolute honor to be a part of helping people find their new home.

She currently serves as the Women’s Council of Realtors, SL Network as Past President, served as President for 2019. She also serves as First Vice Chair for the Women’s Council of Realtors, Utah.

Following are several opportunities that have assisted Kristel hone her professional skills, which she is honored to have been (and continue to be) a part of. Her dedication to continued education and excellence can be seen within her accomplishments, both in her professional real estate and lending career, as well as her personal growth.

KRISTEL GOUGH  |  NMLS #215971 | CoNMLS #2109488

A lifelong local Utahn, Kristel Gough has built a rock solid Mortgage and Real Estate career out of her love for the industry and her community. Kristel Gough has focused both her personal and professional life on an expectation of hard work and personal excellence. 

Born and raised in the Sandy and Draper areas, Kristel graduated from Alta High School and attended the University of Utah before diving headfirst into the world of Real Estate.

Kristel chose a career path in Real Estate because of the unparalleled level of reward that working with both clients and colleagues provides. Utah is an exceptional place to live and it’s her absolute honor to be a part of helping people search for and secure their new home. Her career in Real Estate spans across multiple areas, where she has found fulfillment helping people find their way home. She opened Milestone Mortgage in order to provide the best service to people in her community working towards their dreams of homeownership.

She believes that we all have the power to control our own successes and failures, and that the key to measuring one’s success is working hard and always showing up with your best self and your best effort with everything you involve yourself in. 

She believes in continuous improvement, both personally and professionally.  To that end, Kristel’s devotion to excellence shows in her exceptional career history within the industry – beginning as a member of one of the top-producing mortgage lender teams in the state of Utah for over 22 years and since 2016, as a licensed REALTOR®. 

At the age of 17, Kristel joined Zions Mortgage as a Quality Control Auditor, working part-time after school and softball practices to pay for a much-loved first car. From there, she worked her way up to Loan Processor and then Loan Originator, and from there to Branch Manager and then Mortgage Lender/Owner for 22 years. 

At this point, after over 20 years in the mortgage world, Kristel decided to move on and set out to obtain her Real Estate license in 2016. 

When she’s not ruling the Real Estate world, Kristel loves to travel, put the finishing touches on her newly-completed dream home and spend time with her three children. 

KRISTEL GOUGH  |  NMLS #215971 |

CoNMLS #2109488