First Utah Bank Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 549300MZCM3IR0ZWDI94

Tax ID: 87-0341422

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    First Utah Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First Utah Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Idaho Falls, Salt Lake City, Rexburg, Tampa, and Vernal among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Utah Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Utah Bank is typically an average 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 about average 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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    Originations

    49

    Origination Dollar Volume (All Markets)

    $10,205,000

    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
    IDAHO FALLS, ID (FHA|USDA|VA) 24 $3,900,000 $162,500 $5,177 4.65%
    SALT LAKE CITY, UT (FHA|USDA|VA) 9 $2,855,000 $317,222 $4,926 4.75%
    Rexburg, ID (FHA|USDA|VA) 9 $1,865,000 $207,222 $4,751 4.65%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    Vernal, UT (FHA|USDA|VA) 1 $315,000 $315,000 $3,299 4.88%
    PROVO-OREM, UT (FHA|USDA|VA) 1 $235,000 $235,000 $7,168 4.25%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $6,012 4.25%
    POCATELLO, ID (FHA|USDA|VA) 1 $145,000 $145,000 $4,279 4.38%
    Blackfoot, ID (FHA|USDA|VA) 1 $135,000 $135,000 $4,005 5.88%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $95,000 $95,000 $3,927 5.13%
    First Utah Bank's top markets include Idaho Falls, Salt Lake City, Rexburg, Tampa, and Vernal among others.

    Their top states include:
  • Idaho (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Utah Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 136
    EAST IDAHO Credit Union
    Similarity Rank: 220
    Jordan Federal Credit Union
    Similarity Rank: 245
    WESTMARK Credit Union
    Similarity Rank: 435
    CHARTWAY FEDERAL CREDIT UNION
    Similarity Rank: 470
    First Utah Bank
    Similarity Rank: 540
    IDAHO STATE UNIVERSITY
    Similarity Rank: 650
    D. L. Evans Bank
    Similarity Rank: 660
    UTAH COMMUNITY
    Similarity Rank: 1131
    GOLDENWEST
    Similarity Rank: 1207

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 40 $8,670,000 $216,750 $4,475 4.66%
    FHA 8 $1,290,000 $161,250 $6,607 4.72%
    VA 1 $245,000 $245,000 $11,315 5.00%

    For 2019, First Utah Bank's most frequently originated type of loan was Conventional, with 40 originations. Their 2nd most popular type was FHA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 40 $7,530,000 $188,250 $4,875 4.71%
    Cash Out Refi 9 $2,675,000 $297,222 $5,530 4.56%

    For 2019, First Utah Bank's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 38 $8,000,000 $210,526 $5,466 4.72%
    10 Year 7 $995,000 $142,143 $155 5.00%
    15 Year 3 $705,000 $235,000 $5,647 3.79%
    Other 1 $505,000 $505,000 $0 0.00%

    For 2019, First Utah Bank's most frequently cited loan duration was 30 Year, with 38 originations. The 2nd most popular length was 10 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 14 $2,580,000 $184,286
    $1k-2k 12 $2,290,000 $190,833
    $3k-4k 10 $2,370,000 $237,000
    $<1k 6 $300,000 $50,000
    $5k+ 2 $890,000 $445,000
    $4k-5k 1 $295,000 $295,000

    First Utah Bank's average total fees were $5,466, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 33 $6,435,000 $195,000
    5-6% 9 $1,585,000 $176,111
    3-4% 3 $705,000 $235,000

    During 2019, First Utah Bank's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 23 $3,765,000 $163,696 $5,176 4.69%
    $200k-400k 15 $3,935,000 $262,333 $5,903 4.65%
    $100,000 or less 6 $190,000 $31,667 $1,331 4.94%
    $400k-600k 5 $2,315,000 $463,000 $6,921 4.25%

    2019 saw First Utah Bank place emphasis on $100k-200k loans with 23 originations, totaling $3,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $2,425,000 $186,538 $4,567 4.94%
    $50k or less 13 $1,775,000 $136,538 $4,594 4.50%
    $75k-100k 8 $1,830,000 $228,750 $5,911 4.71%
    $100k-150k 7 $1,585,000 $226,429 $5,066 4.37%
    $250k+ 3 $965,000 $321,667 $6,318 5.08%
    $150k-250k 1 $145,000 $145,000 $4,465 4.38%

    First Utah Bank lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $50k or less, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 10 $2,030,000 $203,000 $4,876 4.72%
    20-30% 8 $1,120,000 $140,000 $3,864 4.68%
    <20% 7 $1,655,000 $236,429 $5,453 4.75%
    40% 5 $645,000 $129,000 $4,564 4.50%
    38% 4 $620,000 $155,000 $3,270 4.69%
    48% 2 $300,000 $150,000 $6,679 4.94%
    39% 1 $245,000 $245,000 $11,315 5.00%
    41% 1 $185,000 $185,000 $4,768 4.50%
    42% 1 $415,000 $415,000 $3,906 4.38%
    43% 1 $195,000 $195,000 $4,963 4.63%
    44% 1 $405,000 $405,000 $7,181 4.13%
    45% 1 $195,000 $195,000 $8,514 4.38%
    46% 1 $165,000 $165,000 $7,041 5.50%
    47% 1 $235,000 $235,000 $7,168 4.25%
    37% 1 $315,000 $315,000 $3,299 4.88%

    First Utah Bank lent most frequently to those with DTI ratios of 30-36%, with 10 originations. The next most common DTI ratio? 20-30%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $8,100,000 $192,857 $5,013 4.68%
    Not applicable 4 $1,480,000 $370,000 $0 0.00%
    Asian 2 $470,000 $235,000 $4,342 4.94%
    Black 1 $155,000 $155,000 $6,012 4.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    First Utah Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.84%

    First Utah Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 49 $10,205,000 $208,265

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $320,000 $160,000
    Single Family (1-4 Units):Site-Built 47 $9,885,000 $210,319

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 3 $1,025,000 $341,667 $3,855 4.44%
    60-80% 15 $3,875,000 $258,333 $5,214 4.63%
    80-100% 26 $5,130,000 $197,308 $5,758 4.68%
    Under 20% 5 $175,000 $35,000 $155 5.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK VA mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 3 20.0%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK FHA mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%