Utah Community Mortgage Rates, Fees & Info

Provo, UT

LEI: 549300BOLK89ZL7BNX85

Tax ID: 87-0231088

4.5 stars - out of 5 stars, based on 58 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Utah Community is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Utah Community has a high proportion of conventional 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 include Provo, Salt Lake City, Heber, Ogden, and St. George among others. Utah Community has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Utah Community is typically an average fee lendor.


Originations

3,412

Origination Dollar Volume (All Markets)

$804,960,000
Show all (6) awards

Relative Rate

Utah Community's average 30 year fixed rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

Utah Community's average total fees for a 30 year fixed rate mortgage are $5,681.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PROVO-OREM, UT (FHA|USDA|VA) 2,701 $615,035,000 $227,706 $5,300 2.79%
SALT LAKE CITY, UT (FHA|USDA|VA) 297 $75,815,000 $255,269 $3,908 2.75%
Heber, UT (FHA|USDA|VA) 216 $66,230,000 $306,620 $4,632 2.91%
Outside of Metro Areas 68 $16,110,000 $236,912 $5,040 3.02%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 62 $15,170,000 $244,677 $3,556 2.86%
ST. GEORGE, UT (FHA|USDA|VA) 36 $9,440,000 $262,222 $3,726 3.15%
LOGAN, UT-ID (FHA|USDA|VA) 10 $2,320,000 $232,000 $3,080 3.01%
Cedar City, UT (FHA|USDA|VA) 8 $2,070,000 $258,750 $3,663 2.98%
Price, UT (FHA|USDA|VA) 7 $1,435,000 $205,000 $3,651 2.82%
Vernal, UT (FHA|USDA|VA) 6 $1,160,000 $193,333 $3,174 2.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.50%

Utah Community's top markets include Provo, Salt Lake City, Heber, Ogden, and St. George among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 3,358 $786,640,000 $234,258 $4,965 2.81%
FHA 30 $9,720,000 $324,000 $10,144 2.81%
VA 18 $6,940,000 $385,556 $6,953 2.58%
USDA 6 $1,660,000 $276,667 $5,813 2.65%

For the 2021 period, Utah Community's most frequently originated loan type of loans were Conventional, with 3,358 originations. Their 2nd most popular type is FHA, with 30 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,098 $267,230,000 $243,379 $6,747 2.68%
Home Improvement 890 $79,690,000 $89,539 $0 2.70%
Cash Out Refi 735 $209,725,000 $285,340 $3,476 2.92%
Home Purchase 670 $243,770,000 $363,836 $4,761 3.04%
Other 19 $4,545,000 $239,211 $3,018 2.77%

For the 2021, Utah Community's most frequently cited loan purpose of loans were Refi, with 1,098 originations. The 2nd most popular reason of loans were Home Improvement, with 890 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,558 $483,870,000 $310,571 $5,681 3.02%
Other 1,192 $144,260,000 $121,023 $5,322 2.56%
15 Year 377 $80,305,000 $213,011 $2,854 2.44%
10 Year 116 $41,170,000 $354,914 $2,269 3.29%
20 Year 109 $24,865,000 $228,119 $2,565 2.78%
30+ year 60 $30,490,000 $508,167 $9,673 3.63%

For the 2021, Utah Community's most frequently cited loan length of loans were 30 Year, with 1,558 originations. The 2nd most popular length of loans were Other, with 1,192 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 851 $247,675,000 $291,040
$1k-2k 586 $144,310,000 $246,263
$2k-3k 291 $81,155,000 $278,883
$3k-4k 244 $82,490,000 $338,074
$5k+ 139 $66,985,000 $481,906

$5,681 of loans were Utah Community's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 851 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 1,156 $187,640,000 $162,318
2.5-3% 1,133 $335,205,000 $295,856
3-4% 735 $233,415,000 $317,571
4-5% 368 $47,240,000 $128,370
5-6% 11 $495,000 $45,000

During 2021, Utah Community's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were <2.5%, with 1,156 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,323 $375,935,000 $284,153 $3,550 2.83%
$100k-200k 806 $119,250,000 $147,953 $8,801 2.60%
$100,000 or less 790 $42,030,000 $53,203 $1,709 2.86%
$400k-600k 415 $196,225,000 $472,831 $4,947 2.96%
$600k-1MM 62 $43,900,000 $708,065 $8,230 3.10%
$1MM+ 16 $27,620,000 $1,726,250 $17,815 3.83%

2021 saw Utah Community place emphasis on $200k-400k loans with 1,323 originations, totaling $375,935,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 872 $200,800,000 $230,275 $3,839 2.77%
$50k-75k 742 $153,280,000 $206,577 $8,418 2.85%
$75k-100k 700 $159,070,000 $227,243 $3,618 2.84%
$150k-250k 527 $130,575,000 $247,770 $4,581 2.72%
$50k or less 303 $55,015,000 $181,568 $2,955 2.81%
$250k+ 188 $61,710,000 $328,245 $5,445 2.79%

Utah Community lent most frequently to those with incomes in the $100k-150k range, with 872 originations. The second most popular income band? $50k-75k, with 742 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 866 $188,170,000 $217,286 $9,106 2.73%
30-36% 682 $162,900,000 $238,856 $3,703 2.84%
<20% 385 $69,315,000 $180,039 $3,027 2.70%
42% 145 $32,535,000 $224,379 $3,724 2.84%
39% 139 $33,265,000 $239,317 $4,337 2.95%
37% 138 $32,380,000 $234,638 $3,863 2.93%
43% 131 $32,675,000 $249,427 $3,819 2.75%
38% 128 $32,430,000 $253,359 $4,056 2.81%
44% 116 $27,580,000 $237,759 $3,861 2.90%
40% 116 $26,710,000 $230,259 $4,012 2.91%
41% 116 $27,350,000 $235,776 $4,037 2.84%
36% 106 $24,400,000 $230,189 $3,667 2.83%
45% 84 $20,600,000 $245,238 $3,543 2.94%
48% 52 $15,430,000 $296,731 $3,604 2.82%
47% 49 $14,785,000 $301,735 $3,428 2.92%
46% 41 $10,285,000 $250,854 $4,027 2.74%
49% 35 $10,605,000 $303,000 $3,346 2.78%
50-60% 23 $5,025,000 $218,478 $5,100 2.54%
>60% 12 $3,000,000 $250,000 $9,295 2.43%

Utah Community lent most frequently to those with DTI ratios of 20-30%, with 866 originations. The next most common DTI ratio? 30-36%, with 682 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 3,063 $695,635,000 $227,109 $5,233 2.80%
Not provided 198 $48,790,000 $246,414 $3,469 2.80%
Not applicable 41 $33,535,000 $817,927 $0 3.66%
Asian 41 $10,485,000 $255,732 $3,516 2.63%
Black 18 $4,950,000 $275,000 $3,836 3.00%
Native Hawaiian 20 $4,450,000 $222,500 $3,476 2.79%
American Indian 18 $4,020,000 $223,333 $3,856 2.98%
Asian Indian 3 $825,000 $275,000 $3,166 2.41%
Native Hawiian 2 $570,000 $285,000 $4,967 3.69%
Other Pacific Islander 2 $520,000 $260,000 $2,887 2.69%
2 $470,000 $235,000 $0 1.49%
Samoan 2 $360,000 $180,000 $3,110 2.31%
Chinese 2 $350,000 $175,000 $3,229 3.31%

Approval Rates

Total approvals of all applications
95.27%

Utah Community 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
67.03%

Utah Community has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 3,412 $804,960,000 $235,920

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,412 $804,960,000 $235,920

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 600 $102,410,000 $170,683 $2,823 2.61%
40-60% 753 $200,655,000 $266,474 $7,854 2.73%
60-80% 844 $309,210,000 $366,363 $4,007 2.98%
80-100% 385 $139,465,000 $362,247 $4,582 2.96%
Under 20% 828 $53,140,000 $64,179 $1,726 2.78%