Utah First Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 549300DEVPMBR765WH45

Tax ID: 87-0212719

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Mortgage Data

Review & Overview

Utah First is a smaller mortgage company specializing in Other, Home Improvement, and Home Purchase loans. Utah First has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Provo, Ogden, Heber, and St. George among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Utah First has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.29% 12/8/24
30 Year Conventional Purchase 6.65% 12/8/24
30 Year Conventional Refi 8.27% 12/8/24
30 Year Cash-out Refi 7.52% 12/8/24
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 First Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Utah First. 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

642

Origination Dollar Volume (All Markets)

$107,240,000

Relative Rate

Utah First's average 30 year fixed mortgage rate was 8.24%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 1.76%.

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) 274 $41,990,000 $153,248 $0 8.25%
PROVO-OREM, UT (FHA|USDA|VA) 141 $23,505,000 $166,702 $0 8.14%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 141 $21,365,000 $151,525 $0 8.50%
Heber, UT (FHA|USDA|VA) 24 $8,310,000 $346,250 $0 8.50%
ST. GEORGE, UT (FHA|USDA|VA) 31 $7,205,000 $232,419 $0 7.58%
LOGAN, UT-ID (FHA|USDA|VA) 8 $1,300,000 $162,500 $0 8.34%
Outside of Metro Areas 9 $1,295,000 $143,889 $0 8.42%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $630,000 $157,500 $0 7.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $460,000 $230,000 $0 6.63%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $265,000 $265,000 $0 6.50%
Price, UT (FHA|USDA|VA) 1 $235,000 $235,000 $0 9.00%
Cedar City, UT (FHA|USDA|VA) 1 $185,000 $185,000 $0 7.50%
Edwards, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 7.75%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $145,000 $145,000 $0 8.25%
Vernal, UT (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.25%
Elko, NV (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $25,000 $25,000 $0 11.00%
Utah First's top markets include Salt Lake City, Provo, Ogden, Heber, and St. George among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 558 $73,050,000 $130,914 n/a 8.44%
    Conventional 84 $34,190,000 $407,024 $0 7.01%

    For 2023, Utah First's most frequently originated type of loan was HELOC, with 558 originations. Their 2nd most popular type was Conventional, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 279 $36,185,000 $129,695 $0 8.51%
    Home Improvement 240 $31,470,000 $131,125 $0 8.40%
    Home Purchase 63 $22,765,000 $361,349 $0 7.39%
    Refi 56 $15,400,000 $275,000 $0 7.38%
    Cash Out Refi 4 $1,420,000 $355,000 $0 6.78%

    For 2023, Utah First's most frequently cited loan purpose was Other, with 279 originations. The 2nd most popular reason was Home Improvement, with 240 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 630 $104,330,000 $165,603 $0 8.24%
    3 Year 6 $1,160,000 $193,333 $0 8.00%
    Other 5 $385,000 $77,000 $0 9.18%
    1 Year 1 $1,365,000 $1,365,000 $0 9.50%

    For 2023, Utah First's most frequently cited loan duration was 30 Year, with 630 originations. The 2nd most popular length was 3 Year, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 370 $53,220,000 $143,838
    7-8% 220 $33,560,000 $152,545
    6-7% 36 $13,950,000 $387,500
    5-6% 16 $6,510,000 $406,875

    During 2023, Utah First's average interest rate for loans was 8.24%, while their most frequently originated rate bucket for loans was Over 8%, with 370 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 264 $31,030,000 $117,538 $0 8.24%
    $100,000 or less 214 $12,790,000 $59,766 $0 8.63%
    $200k-400k 102 $27,430,000 $268,922 $0 7.95%
    $400k-600k 45 $20,885,000 $464,111 $0 7.48%
    $600k-1MM 11 $7,615,000 $692,273 $0 7.19%
    $1MM+ 6 $7,490,000 $1,248,333 $0 8.19%

    2023 saw Utah First place emphasis on $100k-200k loans with 264 originations, totaling $31,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 195 $24,955,000 $127,974 $0 8.21%
    $150k-250k 182 $30,380,000 $166,923 $0 8.17%
    $250k+ 93 $32,675,000 $351,344 $0 8.20%
    $75k-100k 88 $10,400,000 $118,182 $0 8.52%
    $50k-75k 57 $5,705,000 $100,088 $0 8.43%
    $50k or less 19 $1,235,000 $65,000 $0 8.18%

    Utah First lent most frequently to those with incomes in the $100k-150k range, with 195 originations. The second most popular income band? $150k-250k, with 182 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 179 $27,385,000 $152,989 $0 8.37%
    20-30% 161 $27,315,000 $169,658 $0 8.12%
    36% 48 $6,990,000 $145,625 $0 8.43%
    39% 43 $6,415,000 $149,186 $0 8.15%
    <20% 37 $7,535,000 $203,649 $0 7.74%
    37% 37 $7,215,000 $195,000 $0 8.10%
    38% 36 $3,910,000 $108,611 $0 8.67%
    40% 32 $5,890,000 $184,063 $0 8.29%
    41% 23 $2,265,000 $98,478 $0 8.59%
    42% 21 $4,205,000 $200,238 $0 8.40%
    43% 11 $3,715,000 $337,727 $0 8.59%
    44% 4 $1,330,000 $332,500 $0 7.56%
    45% 3 $945,000 $315,000 $0 7.33%
    46% 2 $710,000 $355,000 $0 8.88%
    50-60% 2 $410,000 $205,000 $0 8.00%
    47% 1 $675,000 $675,000 $0 6.25%

    Utah First lent most frequently to those with DTI ratios of 30-36%, with 179 originations. The next most common DTI ratio? 20-30%, with 161 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 590 $99,460,000 $168,576 $0 8.25%
    Asian 21 $3,865,000 $184,048 $0 8.30%
    Not provided 14 $1,870,000 $133,571 $0 8.62%
    Native Hawaiian or Islander 10 $1,330,000 $133,000 $0 8.33%
    Not applicable 2 $330,000 $165,000 $0 6.81%
    Black 4 $310,000 $77,500 $0 7.94%
    American Indian 1 $75,000 $75,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    63.96%

    Utah First has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    90.81%

    Utah First has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 642 $107,240,000 $167,040

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    642 $107,240,000 $167,040

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 170 $32,120,000 $188,941 $0 8.20%
    40-60% 34 $12,540,000 $368,824 $0 7.65%
    60-80% 50 $22,070,000 $441,400 $0 7.24%
    80-100% 11 $5,435,000 $494,091 $0 6.77%
    Under 20% 377 $35,075,000 $93,037 $0 8.50%