Utah First Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 549300DEVPMBR765WH45

Tax ID: 87-0212719

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Utah First is a smaller mortgage company specializing in Other and Home Improvement loans. Utah First has a high proportion of conventional loans. Their top markets include Salt Lake City, Ogden, Provo, Heber, and St. George among others. Utah First has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

1,026

Origination Dollar Volume (All Markets)

$127,310,000

Relative Rate

Utah First's average 30 year fixed rate mortgage of loans were 4.68%.

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

This yields a difference of 1.53%.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SALT LAKE CITY, UT (FHA|USDA|VA) 473 $60,695,000 $128,319 $0 4.76%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 246 $29,390,000 $119,472 $0 4.98%
PROVO-OREM, UT (FHA|USDA|VA) 235 $25,015,000 $106,447 $0 4.87%
Heber, UT (FHA|USDA|VA) 15 $4,765,000 $317,667 $0 4.37%
ST. GEORGE, UT (FHA|USDA|VA) 27 $4,085,000 $151,296 $0 4.18%
LOGAN, UT-ID (FHA|USDA|VA) 6 $1,170,000 $195,000 $0 6.15%
Outside of Metro Areas 8 $560,000 $70,000 $0 4.63%
Rexburg, ID (FHA|USDA|VA) 2 $380,000 $190,000 $0 7.25%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.00%
Cedar City, UT (FHA|USDA|VA) 3 $255,000 $85,000 $0 4.00%
TUCSON, AZ (FHA|USDA|VA) 2 $150,000 $75,000 $0 4.00%
BOISE CITY, ID (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.00%
IDAHO FALLS, ID (FHA|USDA|VA) 2 $110,000 $55,000 $0 4.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
Burley, ID (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
Vernal, UT (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.25%

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

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,026 $127,310,000 $124,084 $0 4.83%

For the 2021 period, Utah First's most frequently originated loan type of loans were Conventional, with 1,026 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Other 465 $48,905,000 $105,172 $0 5.03%
Home Improvement 443 $45,185,000 $101,998 $0 4.60%
Refi 60 $16,120,000 $268,667 $0 5.12%
Home Purchase 52 $14,080,000 $270,769 $0 4.53%
Cash Out Refi 6 $3,020,000 $503,333 $0 5.58%

For the 2021, Utah First's most frequently cited loan purpose of loans were Other, with 465 originations. The 2nd most popular reason of loans were Home Improvement, with 443 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 940 $118,440,000 $126,000 $0 4.68%
Other 77 $6,865,000 $89,156 $0 6.48%
3 Year 7 $1,895,000 $270,714 $0 5.73%
20 Year 1 $25,000 $25,000 $0 7.75%
5 Year 1 $85,000 $85,000 $0 5.50%

For the 2021, Utah First's most frequently cited loan length of loans were 30 Year, with 940 originations. The 2nd most popular length of loans were Other, with 77 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1 $155,000 $155,000

$0 of loans were Utah First's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 726 $89,730,000 $123,595
6-7% 113 $8,605,000 $76,150
Over 8% 74 $6,090,000 $82,297
5-6% 54 $7,810,000 $144,630
4-5% 53 $14,125,000 $266,509
7-8% 6 $950,000 $158,333

During 2021, Utah First's average interest rate of loans were 4.68%, while their most frequently originated rate bucket of loans were 3-4%, with 726 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 471 $29,865,000 $63,408 $0 5.21%
$100k-200k 432 $48,950,000 $113,310 $0 4.52%
$200k-400k 86 $23,860,000 $277,442 $0 4.44%
$400k-600k 28 $13,680,000 $488,571 $0 4.46%
$600k-1MM 6 $4,400,000 $733,333 $0 5.04%
$1MM+ 3 $6,555,000 $2,185,000 $0 3.67%

2021 saw Utah First place emphasis on $100,000 or less loans with 471 originations, totaling $29,865,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 334 $36,900,000 $110,479 $0 4.92%
$150k-250k 231 $32,155,000 $139,199 $0 4.60%
$75k-100k 204 $19,050,000 $93,382 $0 4.86%
$50k-75k 135 $11,775,000 $87,222 $0 5.03%
$250k+ 69 $21,555,000 $312,391 $0 4.70%
$50k or less 34 $3,130,000 $92,059 $0 4.90%

Utah First lent most frequently to those with incomes in the $100k-150k range, with 334 originations. The second most popular income band? $150k-250k, with 231 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 262 $34,560,000 $131,908 $0 4.76%
20-30% 256 $32,030,000 $125,117 $0 4.42%
42% 100 $9,690,000 $96,900 $0 5.55%
<20% 85 $15,605,000 $183,588 $0 4.51%
41% 57 $6,125,000 $107,456 $0 5.12%
39% 57 $6,005,000 $105,351 $0 4.93%
36% 56 $5,650,000 $100,893 $0 5.31%
38% 53 $5,825,000 $109,906 $0 5.01%
40% 39 $4,195,000 $107,564 $0 5.18%
37% 32 $3,260,000 $101,875 $0 4.98%
43% 14 $1,370,000 $97,857 $0 5.14%
45% 3 $635,000 $211,667 $0 4.00%
50-60% 2 $190,000 $95,000 $0 4.00%
44% 2 $100,000 $50,000 $0 4.00%
47% 2 $590,000 $295,000 $0 4.00%
49% 2 $260,000 $130,000 $0 4.00%
46% 1 $505,000 $505,000 $0 5.00%
48% 1 $105,000 $105,000 $0 12.25%

Utah First lent most frequently to those with DTI ratios of 30-36%, with 262 originations. The next most common DTI ratio? 20-30%, with 256 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 851 $108,555,000 $127,562 $0 4.82%
Not provided 140 $14,960,000 $106,857 $0 4.82%
Asian 19 $1,535,000 $80,789 $0 4.91%
Native Hawaiian 8 $1,110,000 $138,750 $0 6.75%
Not applicable 3 $715,000 $238,333 $0 4.00%
Black 4 $360,000 $90,000 $0 4.00%
American Indian 1 $75,000 $75,000 $0 6.25%

Approval Rates

Total approvals of all applications
74.59%

Utah First has a below average approval rate.

Pick Rate

Approvals leading to origination
88.87%

Utah First has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,026 $127,310,000 $124,084

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,026 $127,310,000 $124,084

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 296 $38,790,000 $131,047 $0 4.80%
40-60% 42 $14,630,000 $348,333 $0 4.40%
60-80% 37 $17,575,000 $475,000 $0 4.45%
80-100% 10 $5,540,000 $554,000 $0 4.56%
Under 20% 641 $50,775,000 $79,212 $0 4.90%