Utah Mortgage Loan Corporation Rates, Fees & Info
Salt Lake City, UTLEI: 25490000OGVJZR74L509
Tax ID: 87-0481540
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Mortgage Data
Review & Overview
Utah Mortgage Loan Corporation is a smaller mortgage company specializing in Home Purchase, Refi, and Other 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: Salt Lake City, Provo, Ogden, Phoenix, and Santa Maria among others. We have data for 30 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 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
752Origination Dollar Volume (All Markets)
$242,460,000Awards
Utah Mortgage Loan Corporation - 2021
Utah Mortgage Loan Corporation is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 252 | $85,180,000 | $338,016 | $4,865 | 3.03% |
| PROVO-OREM, UT (FHA|USDA|VA) | 136 | $48,400,000 | $355,882 | $5,175 | 2.97% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 162 | $47,800,000 | $295,062 | $6,033 | 3.14% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 61 | $18,435,000 | $302,213 | $5,897 | 3.18% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 32 | $9,970,000 | $311,563 | $4,500 | 3.16% |
| Outside of Metro Areas | 34 | $9,140,000 | $268,824 | $6,636 | 3.36% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 9 | $4,515,000 | $501,667 | $4,858 | 3.14% |
| Heber, UT (FHA|USDA|VA) | 10 | $4,030,000 | $403,000 | $7,076 | 2.88% |
| LOGAN, UT-ID (FHA|USDA|VA) | 11 | $3,485,000 | $316,818 | $5,812 | 3.05% |
| ST. GEORGE, UT (FHA|USDA|VA) | 12 | $3,400,000 | $283,333 | $3,381 | 3.02% |
| Vernal, UT (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $5,649 | 3.53% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $17,350 | 3.50% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $25,836 | 2.88% |
| Cedar City, UT (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $3,822 | 3.00% |
| Price, UT (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $6,393 | 3.31% |
| Jackson, WY-ID (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $5,604 | 3.13% |
| POCATELLO, ID (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $4,169 | 2.96% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,150 | 3.19% |
| Evanston, WY (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $6,073 | 3.31% |
| Burley, ID (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,881 | 3.19% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.25% |
| Hailey, ID (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,504 | 2.88% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,559 | 3.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,333 | 2.88% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,664 | 2.63% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,819 | 3.50% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,736 | 2.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,111 | 2.75% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,666 | 3.38% |
| Mountain Home, ID (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,071 | 3.50% |
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.
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Product Mix
For 2021, Utah Mortgage Loan Corporation's most frequently originated type of loan was Conventional, with 646 originations. Their 2nd most popular type was FHA, with 79 originations.
Loan Reason
For 2021, Utah Mortgage Loan Corporation's most frequently cited loan purpose was Home Purchase, with 343 originations. The 2nd most popular reason was Refi, with 224 originations.
Loan Duration/Length
For 2021, Utah Mortgage Loan Corporation's most frequently cited loan duration was 30 Year, with 673 originations. The 2nd most popular length was 15 Year, with 44 originations.
Origination Fees/Closing Costs
Utah Mortgage Loan Corporation's average total fees were $5,490, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 193 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 353 | $116,315,000 | $329,504 |
| 3-4% | 318 | $108,710,000 | $341,855 |
| <2.5% | 57 | $15,175,000 | $266,228 |
| 4-5% | 14 | $1,230,000 | $87,857 |
| 5-6% | 10 | $1,030,000 | $103,000 |
During 2021, Utah Mortgage Loan Corporation's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 353 originations.
Loan Sizing
2021 saw Utah Mortgage Loan Corporation place emphasis on $200k-400k loans with 431 originations, totaling $128,105,000 in origination value.
Applicant Income
Utah Mortgage Loan Corporation lent most frequently to those with incomes in the $50k-75k range, with 206 originations. The second most popular income band? $100k-150k, with 176 originations.
Applicant Debt to Income Ratio
Utah Mortgage Loan Corporation lent most frequently to those with DTI ratios of 20-30%, with 175 originations. The next most common DTI ratio? 30-36%, with 120 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.67%
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 origination88.43%
Utah Mortgage Loan Corporation has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 752 | $242,460,000 | $322,420 |