Utah Mortgage Loan Corporation Rates, Fees & Info

Salt Lake City, UT

LEI: 25490000OGVJZR74L509

Tax ID: 87-0481540

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Utah Mortgage Loan Corporation is a smaller mortgage company specializing in Home Purchase loans. Utah Mortgage Loan Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Salt Lake City, Ogden, Provo, Phoenix, and Logan among others. We have data for 13 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 an above average pick rate when compared to similar lenders. Utah Mortgage Loan Corporation is typically a low 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 about average 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.

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    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

    491

    Origination Dollar Volume (All Markets)

    $115,655,000

    Awards

    Utah Mortgage Loan Corporation FHA Loans silver Utah Mortgage Loan Corporation FHA Loans gold
    Show all (2) awards

    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
    SALT LAKE CITY, UT (FHA|USDA|VA) 202 $51,610,000 $255,495 $4,243 4.95%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 169 $36,335,000 $215,000 $4,771 5.14%
    PROVO-OREM, UT (FHA|USDA|VA) 53 $14,735,000 $278,019 $4,627 4.71%
    Outside of Metro Areas 16 $3,100,000 $193,750 $6,534 5.05%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 14 $2,760,000 $197,143 $4,932 5.08%
    LOGAN, UT-ID (FHA|USDA|VA) 9 $1,795,000 $199,444 $4,426 5.33%
    Vernal, UT (FHA|USDA|VA) 13 $1,495,000 $115,000 $3,511 5.18%
    Heber, UT (FHA|USDA|VA) 5 $1,375,000 $275,000 $8,564 4.88%
    Rock Springs, WY (FHA|USDA|VA) 3 $745,000 $248,333 $4,110 5.13%
    ST. GEORGE, UT (FHA|USDA|VA) 2 $570,000 $285,000 $4,911 5.00%
    Evanston, WY (FHA|USDA|VA) 2 $500,000 $250,000 $9,495 5.38%
    Cedar City, UT (FHA|USDA|VA) 2 $410,000 $205,000 $8,293 5.13%
    POCATELLO, ID (FHA|USDA|VA) 1 $225,000 $225,000 $11,300 5.50%
    Utah Mortgage Loan Corporation's top markets include Salt Lake City, Ogden, Provo, Phoenix, and Logan among others.

    Their top states include:
  • Utah (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)

    • 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.

    Montecito Bank & Trust
    Similarity Rank: 90
    COASTHILLS
    Similarity Rank: 136
    Resource Lenders Inc.
    Similarity Rank: 242
    State Bank of Southern Utah
    Similarity Rank: 256
    Jordan Federal Credit Union
    Similarity Rank: 294
    ADVANTAGE PLUS
    Similarity Rank: 595
    IAPPROVE LENDING
    Similarity Rank: 816
    COASTAL FUNDING SLC, INC.
    Similarity Rank: 969
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1058
    Rabobank, N.A.
    Similarity Rank: 1088

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 355 $83,775,000 $235,986 $3,760 5.09%
    FHA 105 $23,915,000 $227,762 $6,932 4.87%
    VA 24 $6,820,000 $284,167 $7,099 4.66%
    USDA 5 $885,000 $177,000 $7,302 4.50%
    FHA 1 $35,000 $35,000 $0 4.54%
    FHA 1 $225,000 $225,000 $0 4.56%

    For 2018, Utah Mortgage Loan Corporation's most frequently originated type of loan was Conventional, with 355 originations. Their 2nd most popular type was FHA, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 400 $94,210,000 $235,525 $4,297 5.04%
    Refi 39 $9,695,000 $248,590 $6,712 4.81%
    Other 28 $6,080,000 $217,143 $5,771 5.00%
    Cash Out Refi 16 $4,050,000 $253,125 $5,980 4.94%
    Home Improvement 8 $1,620,000 $202,500 $5,517 5.02%

    For 2018, Utah Mortgage Loan Corporation's most frequently cited loan purpose was Home Purchase, with 400 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 478 $113,140,000 $236,695 $4,630 5.04%
    15 Year 5 $825,000 $165,000 $5,328 4.25%
    Other 5 $1,105,000 $221,000 $5,215 4.19%
    20 Year 3 $585,000 $195,000 $4,746 4.42%

    For 2018, Utah Mortgage Loan Corporation's most frequently cited loan duration was 30 Year, with 478 originations. The 2nd most popular length was 15 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 205 $43,045,000 $209,976
    $3k-4k 88 $21,140,000 $240,227
    $2k-3k 66 $12,480,000 $189,091
    $4k-5k 55 $16,405,000 $298,273
    $1k-2k 40 $10,870,000 $271,750
    $5k+ 33 $11,065,000 $335,303

    Utah Mortgage Loan Corporation's average total fees were $4,630, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 205 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 305 $80,215,000 $263,000
    5-6% 117 $27,445,000 $234,573
    7-8% 31 $375,000 $12,097
    3-4% 27 $7,325,000 $271,296
    6-7% 11 $295,000 $26,818

    During 2018, Utah Mortgage Loan Corporation's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 4-5%, with 305 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 288 $80,530,000 $279,618 $5,221 4.82%
    $100k-200k 125 $19,985,000 $159,880 $4,525 4.82%
    $100,000 or less 48 $900,000 $18,750 $708 6.90%
    $400k-600k 27 $12,065,000 $446,852 $5,684 4.71%
    $600k-1MM 3 $2,175,000 $725,000 $7,092 4.79%

    2018 saw Utah Mortgage Loan Corporation place emphasis on $200k-400k loans with 288 originations, totaling $80,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 151 $33,505,000 $221,887 $4,394 5.13%
    $50k or less 131 $21,725,000 $165,840 $4,084 5.04%
    $75k-100k 103 $26,055,000 $252,961 $4,921 5.06%
    $100k-150k 64 $20,490,000 $320,156 $5,729 4.66%
    $150k-250k 37 $11,785,000 $318,514 $4,763 4.96%
    $250k+ 5 $2,095,000 $419,000 $6,223 4.85%

    Utah Mortgage Loan Corporation lent most frequently to those with incomes in the $50k-75k range, with 151 originations. The second most popular income band? $50k or less, with 131 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $16,105,000 $264,016 $4,452 4.73%
    30-36% 59 $14,655,000 $248,390 $4,379 4.96%
    50-60% 35 $6,615,000 $189,000 $5,821 5.16%
    <20% 27 $6,105,000 $226,111 $4,672 4.69%
    49% 25 $5,895,000 $235,800 $5,523 4.97%
    42% 24 $5,730,000 $238,750 $4,934 5.22%
    43% 24 $4,640,000 $193,333 $4,639 5.23%
    44% 23 $5,125,000 $222,826 $3,128 5.42%
    47% 22 $5,030,000 $228,636 $5,039 5.14%
    40% 21 $5,605,000 $266,905 $4,316 4.80%
    41% 21 $5,185,000 $246,905 $4,323 5.04%
    37% 21 $3,965,000 $188,810 $4,857 4.95%
    46% 20 $4,220,000 $211,000 $5,049 4.99%
    38% 20 $5,150,000 $257,500 $4,560 5.14%
    48% 19 $5,335,000 $280,789 $4,145 4.99%
    36% 19 $4,745,000 $249,737 $5,549 4.72%
    45% 18 $4,300,000 $238,889 $4,340 5.24%
    >60% 17 $3,705,000 $217,941 $3,942 5.15%
    39% 12 $2,720,000 $226,667 $4,331 5.60%

    Utah Mortgage Loan Corporation lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 441 $104,855,000 $237,766 $4,637 5.02%
    Not provided 30 $6,210,000 $207,000 $4,681 5.00%
    Black 6 $1,570,000 $261,667 $5,094 5.13%
    Asian 8 $1,480,000 $185,000 $4,554 5.03%
    Native Hawaiian or Islander 5 $1,415,000 $283,000 $4,315 4.55%
    American Indian 1 $125,000 $125,000 $5,228 4.63%

    Approval Rates

    Total approvals of all applications
    99.64%

    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 origination
    91.65%

    Utah Mortgage Loan Corporation has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 491 $115,655,000 $235,550

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 19 $3,005,000 $158,158
    Single Family (1-4 Units):Site-Built 472 $112,650,000 $238,665

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $715,000 $143,000 $4,894 4.75%
    40-60% 29 $6,305,000 $217,414 $4,474 4.70%
    60-80% 114 $29,550,000 $259,211 $5,049 4.86%
    80-100% 296 $77,280,000 $261,081 $5,035 4.81%
    Over 100% 3 $1,085,000 $361,667 $10,210 4.71%
    Under 20% 44 $720,000 $16,364 $554 7.09%