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 and Home Improvement loans. Utah First has an average 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 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Utah First has an average approval rate when compared to the average across all lenders. They have an 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% | 4/28/24 |
| 30 Year Conventional Purchase | 6.65% | 4/28/24 |
| 30 Year Conventional Refi | 8.27% | 4/28/24 |
| 30 Year Cash-out Refi | 7.52% | 4/28/24 |
| 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
1,157Origination Dollar Volume (All Markets)
$175,265,000Top 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) | 496 | $73,360,000 | $147,903 | $0 | 5.35% |
| PROVO-OREM, UT (FHA|USDA|VA) | 293 | $40,225,000 | $137,287 | $0 | 5.12% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 262 | $37,410,000 | $142,786 | $0 | 5.41% |
| Heber, UT (FHA|USDA|VA) | 21 | $9,795,000 | $466,429 | $0 | 5.11% |
| ST. GEORGE, UT (FHA|USDA|VA) | 38 | $7,180,000 | $188,947 | $0 | 4.75% |
| LOGAN, UT-ID (FHA|USDA|VA) | 18 | $2,930,000 | $162,778 | $0 | 5.50% |
| Outside of Metro Areas | 11 | $2,235,000 | $203,182 | $0 | 5.77% |
| Cedar City, UT (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $0 | 4.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 6.50% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.00% |
| Vernal, UT (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 5.50% |
| Ruston, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.25% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 6.63% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 4.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.75% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.49% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 1,080 | $146,000,000 | $135,185 | n/a | 5.23% |
| Conventional | 77 | $29,265,000 | $380,065 | $0 | 6.13% |
For 2022, Utah First's most frequently originated type of loan was HELOC, with 1,080 originations. Their 2nd most popular type was Conventional, with 77 originations.
Loan Reason
For 2022, Utah First's most frequently cited loan purpose was Other, with 528 originations. The 2nd most popular reason was Home Improvement, with 474 originations.
Loan Duration/Length
For 2022, Utah First's most frequently cited loan duration was 30 Year, with 1,136 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $1,135,000 | $227,000 |
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 5 originations.
Interest Rates
During 2022, Utah First's average interest rate for loans was 5.26%, while their most frequently originated rate bucket for loans was 3-4%, with 499 originations.
Loan Sizing
2022 saw Utah First place emphasis on $100k-200k loans with 532 originations, totaling $61,350,000 in origination value.
Applicant Income
Utah First lent most frequently to those with incomes in the $100k-150k range, with 348 originations. The second most popular income band? $150k-250k, with 309 originations.
Applicant Debt to Income Ratio
Utah First lent most frequently to those with DTI ratios of 20-30%, with 323 originations. The next most common DTI ratio? 30-36%, with 310 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.42%
Utah First has a below average approval rate.
Pick Rate
Approvals leading to origination90.84%
Utah First has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,157 | $175,265,000 | $151,482 |