Utah First Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.29% | 11/21/24 |
| 30 Year Conventional Purchase | 6.65% | 11/21/24 |
| 30 Year Conventional Refi | 8.27% | 11/21/24 |
| 30 Year Cash-out Refi | 7.52% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
642Origination Dollar Volume (All Markets)
$107,240,000Relative 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% |
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
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
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
2023 saw Utah First place emphasis on $100k-200k loans with 264 originations, totaling $31,030,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications63.96%
Utah First has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination90.81%
Utah First has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 642 | $107,240,000 | $167,040 |