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, Home Purchase, and Refi loans. Utah First has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Ogden, Provo, St. George, and Riverside among others. We have data for 26 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 a below average pick rate when compared to similar lenders. Utah First is typically a low 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 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% | 4/21/24 |
| 30 Year Conventional Purchase | 6.65% | 4/21/24 |
| 30 Year Conventional Refi | 8.27% | 4/21/24 |
| 30 Year Cash-out Refi | 7.52% | 4/21/24 |
| 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
514Origination Dollar Volume (All Markets)
$61,600,000Top 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) | 250 | $28,200,000 | $112,800 | $0 | 5.90% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 118 | $14,260,000 | $120,847 | $0 | 5.87% |
| PROVO-OREM, UT (FHA|USDA|VA) | 78 | $9,190,000 | $117,821 | $0 | 5.88% |
| ST. GEORGE, UT (FHA|USDA|VA) | 11 | $2,275,000 | $206,818 | $0 | 5.25% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $2,070,000 | $345,000 | $0 | 6.15% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 6 | $1,230,000 | $205,000 | $0 | 5.99% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 9 | $875,000 | $97,222 | $0 | 6.30% |
| Outside of Metro Areas | 3 | $425,000 | $141,667 | $0 | 7.83% |
| LOGAN, UT-ID (FHA|USDA|VA) | 7 | $405,000 | $57,857 | $0 | 7.36% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 6.25% |
| Price, UT (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 5.00% |
| SALINAS, CA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 6.37% |
| Heber, UT (FHA|USDA|VA) | 4 | $270,000 | $67,500 | $0 | 5.31% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.88% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 6.87% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 7.75% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.99% |
| SALEM, OR (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 6.37% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.75% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.99% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.00% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.99% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.99% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
| CHICO, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 391 | $34,325,000 | $87,788 | n/a | 6.03% |
| Conventional | 123 | $27,275,000 | $221,748 | $0 | 5.61% |
For 2018, Utah First's most frequently originated type of loan was HELOC, with 391 originations. Their 2nd most popular type was Conventional, with 123 originations.
Loan Reason
For 2018, Utah First's most frequently cited loan purpose was Other, with 182 originations. The 2nd most popular reason was Home Improvement, with 156 originations.
Loan Duration/Length
For 2018, Utah First's most frequently cited loan duration was 30 Year, with 355 originations. The 2nd most popular length was Other, with 105 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $4,490,000 | $374,167 |
Utah First's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 12 originations.
Interest Rates
During 2018, Utah First's average interest rate for loans was 5.68%, while their most frequently originated rate bucket for loans was 4-5%, with 228 originations.
Loan Sizing
2018 saw Utah First place emphasis on $100,000 or less loans with 305 originations, totaling $16,955,000 in origination value.
Applicant Income
Utah First lent most frequently to those with incomes in the $100k-150k range, with 150 originations. The second most popular income band? $75k-100k, with 109 originations.
Applicant Debt to Income Ratio
Utah First lent most frequently to those with DTI ratios of 20-30%, with 163 originations. The next most common DTI ratio? 30-36%, with 107 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.63%
Utah First has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination84.24%
Utah First has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1118.14 | 1 | $25,000 | $25,000 |
| 1716.0 | 1 | $35,000 | $35,000 |
| 1949.0 | 1 | $45,000 | $45,000 |
| 2024.0 | 1 | $65,000 | $65,000 |
| 2120.0 | 1 | $55,000 | $55,000 |
| 2120.59 | 1 | $65,000 | $65,000 |
| 2329.0 | 1 | $75,000 | $75,000 |
| 2356.26 | 1 | $75,000 | $75,000 |
| 2628.05 | 1 | $95,000 | $95,000 |
| 3068.83 | 1 | $75,000 | $75,000 |
| 3115.0 | 2 | $170,000 | $85,000 |
| 3119.0 | 1 | $105,000 | $105,000 |
| 3123.0 | 1 | $85,000 | $85,000 |
| 3155.0 | 1 | $95,000 | $95,000 |
| 3159.0 | 1 | $115,000 | $115,000 |
| 3188.59 | 1 | $115,000 | $115,000 |
| 3238.5 | 1 | $125,000 | $125,000 |
| 3332.13 | 1 | $125,000 | $125,000 |
| 3535.0 | 1 | $135,000 | $135,000 |
| 3629.3 | 1 | $145,000 | $145,000 |
| 3719.0 | 1 | $135,000 | $135,000 |
| 3799.0 | 1 | $155,000 | $155,000 |
| 3839.0 | 1 | $155,000 | $155,000 |
| 3949.65 | 1 | $155,000 | $155,000 |
| 3963.11 | 1 | $155,000 | $155,000 |
| 4129.45 | 1 | $175,000 | $175,000 |
| 4447.0 | 1 | $185,000 | $185,000 |
| 4693.02 | 1 | $115,000 | $115,000 |
| 4951.24 | 1 | $205,000 | $205,000 |
| 5219.71 | 1 | $225,000 | $225,000 |
| 5779.0 | 1 | $245,000 | $245,000 |
| 7439.0 | 1 | $335,000 | $335,000 |
| 799.0 | 6 | $360,000 | $60,000 |
| NA | 475 | $57,175,000 | $120,368 |