Utah Mortgage Loan Corporation Rates, Fees & Info
Salt Lake City, UTLEI: 25490000OGVJZR74L509
Tax ID: 87-0481540
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Utah Mortgage Loan Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Utah Mortgage Loan Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Provo, Salt Lake City, Ogden, Santa Maria, and Phoenix among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Utah Mortgage Loan Corporation has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Utah Mortgage Loan Corporation is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.76% | 12/16/24 |
| 30 Year Conventional Refi | 6.71% | 12/16/24 |
| 30 Year FHA Purchase | 7.41% | 12/16/24 |
| 30 Year FHA Refi | 7.67% | 12/16/24 |
| 30 Year VA Purchase | 6.24% | 12/16/24 |
| 30 Year USDA Purchase | 6.58% | 12/16/24 |
| 15 Year Conventional Refi | 6.04% | 12/16/24 |
| 15 Year Cash-out Refi | 6.04% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Utah Mortgage Loan Corporation Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Utah Mortgage Loan Corporation. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
111Origination Dollar Volume (All Markets)
$38,245,000Relative Rate
Utah Mortgage Loan Corporation's average 30 year fixed mortgage rate was
6.72%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.24%.
Relative Fees (Closing Costs)
Utah Mortgage Loan Corporation's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,819.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| PROVO-OREM, UT (FHA|USDA|VA) | 31 | $12,395,000 | $399,839 | $6,792 | 6.68% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 23 | $7,855,000 | $341,522 | $5,378 | 6.90% |
| Outside of Metro Areas | 11 | $3,785,000 | $344,091 | $10,545 | 6.82% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 12 | $3,320,000 | $276,667 | $6,002 | 6.54% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 6 | $2,290,000 | $381,667 | $12,937 | 7.02% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,485,000 | $297,000 | $3,871 | 6.75% |
| LOGAN, UT-ID (FHA|USDA|VA) | 6 | $1,430,000 | $238,333 | $8,560 | 6.81% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 7.00% |
| POCATELLO, ID (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $3,483 | 7.50% |
| Cedar City, UT (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $14,696 | 7.13% |
| ST. GEORGE, UT (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $4,291 | 6.44% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $10,366 | 8.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $11,831 | 6.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 9.74% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,197 | 7.50% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,912 | 6.75% |
| Heber, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,662 | 6.88% |
| Vernal, UT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,682 | 7.13% |
| Price, UT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,710 | 6.00% |
| Evanston, WY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 6.75% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.11% |
Similar Lenders
We use machine learning to identify the top lenders compared against Utah Mortgage Loan Corporation based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 45
Similarity Rank: 176
Similarity Rank: 300
Similarity Rank: 814
Similarity Rank: 900
Similarity Rank: 900
Similarity Rank: 924
Similarity Rank: 975
Similarity Rank: 1000
Similarity Rank: 1020
Product Mix
For 2023, Utah Mortgage Loan Corporation's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was FHA, with 12 originations.
Loan Reason
For 2023, Utah Mortgage Loan Corporation's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
For 2023, Utah Mortgage Loan Corporation's most frequently cited loan duration was 30 Year, with 96 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
Utah Mortgage Loan Corporation's average total fees were $6,819, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 52 | $19,710,000 | $379,038 |
| 7-8% | 33 | $10,895,000 | $330,152 |
| 5-6% | 16 | $5,020,000 | $313,750 |
| Over 8% | 8 | $2,030,000 | $253,750 |
| 4-5% | 2 | $590,000 | $295,000 |
During 2023, Utah Mortgage Loan Corporation's average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 6-7%, with 52 originations.
Loan Sizing
2023 saw Utah Mortgage Loan Corporation place emphasis on $200k-400k loans with 55 originations, totaling $16,805,000 in origination value.
Applicant Income
Utah Mortgage Loan Corporation lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 21 originations.
Applicant Debt to Income Ratio
Utah Mortgage Loan Corporation lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Utah Mortgage Loan Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination80.18%
Utah Mortgage Loan Corporation has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 111 | $38,245,000 | $344,550 |