Bank Of Utah Mortgage Rates, Fees & Info

Ogden, UT

LEI: 549300NNL9H573MWO110

Tax ID: 87-0218467

5 stars - Updated: 4/5/25 - out of 5 stars, based on 27 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Bank Of Utah is a smaller bank specializing in Home Purchase loans. Bank Of Utah has a high proportion of conventional loans. Bank Of Utah has an average proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Ogden, Logan, Heber, Salt Lake City, and Provo among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Utah has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Utah 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.81% 4/5/25
    30 Year Conventional Refi 5.91% 4/5/25
    30 Year Cash-out Refi 7.02% 4/5/25
    30 Year FHA Purchase 7.13% 4/5/25
    30 Year FHA Refi 6.45% 4/5/25
    30 Year VA Purchase 6.04% 4/5/25
    30 Year VA Refi 6.72% 4/5/25
    30 Year USDA Purchase 6.69% 4/5/25
    15 Year Conventional Purchase 6.22% 4/5/25
    15 Year Conventional Refi 6.73% 4/5/25
    15 Year Cash-out Refi 6.73% 4/5/25
    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.

    Bank Of Utah Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bank Of Utah. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    748

    Origination Dollar Volume (All Markets)

    $279,880,000
    Show all (14) awards

    Relative Rate

    Bank Of Utah's average 30 year fixed mortgage rate was 6.45%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Bank Of Utah's average total fees/closing costs for a 30 year fixed rate mortgage were $6,342.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 228 $83,940,000 $368,158 $6,404 6.40%
    LOGAN, UT-ID (FHA|USDA|VA) 164 $54,150,000 $330,183 $6,238 6.28%
    Heber, UT (FHA|USDA|VA) 24 $41,780,000 $1,740,833 $8,025 6.90%
    SALT LAKE CITY, UT (FHA|USDA|VA) 117 $33,495,000 $286,282 $7,945 6.53%
    PROVO-OREM, UT (FHA|USDA|VA) 36 $13,660,000 $379,444 $7,114 6.18%
    ST. GEORGE, UT (FHA|USDA|VA) 36 $11,870,000 $329,722 $6,169 6.64%
    Outside of Metro Areas 40 $10,350,000 $258,750 $5,888 6.73%
    Cedar City, UT (FHA|USDA|VA) 7 $9,345,000 $1,335,000 $11,605 6.80%
    Vernal, UT (FHA|USDA|VA) 37 $6,805,000 $183,919 $4,902 6.40%
    Price, UT (FHA|USDA|VA) 37 $5,685,000 $153,649 $4,414 7.07%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $1,340,000 $335,000 $9,561 6.67%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $1,180,000 $590,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,170,000 $292,500 $0 0.00%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $1,165,000 $1,165,000 $0 9.50%
    IDAHO FALLS, ID (FHA|USDA|VA) 2 $980,000 $490,000 $9,911 6.56%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $680,000 $340,000 $6,727 6.38%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $645,000 $645,000 $11,253 5.63%
    POCATELLO, ID (FHA|USDA|VA) 1 $545,000 $545,000 $3,351 6.63%
    Sonora, CA (FHA|USDA|VA) 1 $345,000 $345,000 $8,285 6.00%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $275,000 $275,000 $1,643 7.13%
    Rock Springs, WY (FHA|USDA|VA) 1 $255,000 $255,000 $5,120 6.00%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $155,000 $155,000 $2,156 6.63%
    MISSOULA, MT (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Bank Of Utah's top markets include Ogden, Logan, Heber, Salt Lake City, and Provo among others.

    Their top states include:
  • Utah (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

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

    Utah Power
    Similarity Rank: 48
    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 222
    State Bank of Southern Utah
    Similarity Rank: 272
    GRANITE FEDERAL CREDIT UNION
    Similarity Rank: 360
    Charles Schwab Bank, SSB
    Similarity Rank: 921
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 1200
    CYPRUS Federal Credit Union
    Similarity Rank: 1260
    UTAH COMMUNITY
    Similarity Rank: 1270
    University First Federal Credit Union
    Similarity Rank: 1332
    Goldman Sachs Bank USA
    Similarity Rank: 1548

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 369 $178,525,000 $483,808 $5,052 6.60%
    Conventional 231 $46,235,000 $200,152 $0 0.00%
    FHA 120 $42,210,000 $351,750 $9,635 6.29%
    VA 27 $12,565,000 $465,370 $7,806 5.86%
    USDA 1 $345,000 $345,000 $3,495 6.25%

    For 2024, Bank Of Utah's most frequently originated type of loan was Conventional, with 369 originations. Their 2nd most popular type was Conventional, with 231 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 483 $220,555,000 $456,636 $6,195 6.52%
    Other 89 $18,365,000 $206,348 $7,558 6.75%
    Refi 82 $23,740,000 $289,512 $7,225 5.81%
    Home Improvement 77 $12,455,000 $161,753 $6,245 7.34%
    Cash Out Refi 17 $4,765,000 $280,294 $7,605 6.51%

    For 2024, Bank Of Utah's most frequently cited loan purpose was Home Purchase, with 483 originations. The 2nd most popular reason was Other, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 473 $178,575,000 $377,537 $6,342 6.45%
    Other 236 $84,660,000 $358,729 $0 9.40%
    15 Year 22 $7,940,000 $360,909 $6,308 6.34%
    20 Year 8 $2,590,000 $323,750 $6,208 6.59%
    10 Year 7 $2,345,000 $335,000 $3,381 6.91%
    5 Year 2 $3,770,000 $1,885,000 $1,453 8.37%

    For 2024, Bank Of Utah's most frequently cited loan duration was 30 Year, with 473 originations. The 2nd most popular length was Other, with 236 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 227 $67,965,000 $299,405
    $5k+ 121 $64,795,000 $535,496
    $3k-4k 42 $12,770,000 $304,048
    $4k-5k 38 $13,960,000 $367,368
    $1k-2k 33 $14,465,000 $438,333
    $2k-3k 29 $9,435,000 $325,345

    Bank Of Utah's average total fees were $6,342, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 227 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 274 $118,480,000 $432,409
    5-6% 107 $41,935,000 $391,916
    7-8% 94 $20,330,000 $216,277
    4-5% 29 $9,055,000 $312,241
    Over 8% 12 $43,830,000 $3,652,500
    3-4% 1 $15,000 $15,000

    During 2024, Bank Of Utah's average interest rate for loans was 6.45%, while their most frequently originated rate bucket for loans was 6-7%, with 274 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 273 $81,905,000 $300,018 $6,498 6.24%
    $400k-600k 156 $75,040,000 $481,026 $7,394 6.43%
    $100,000 or less 139 $6,315,000 $45,432 $772 7.34%
    $100k-200k 103 $15,055,000 $146,165 $3,966 6.27%
    $600k-1MM 60 $41,700,000 $695,000 $9,598 6.51%
    $1MM+ 17 $59,865,000 $3,521,471 $18,251 7.88%

    2024 saw Bank Of Utah place emphasis on $200k-400k loans with 273 originations, totaling $81,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 191 $59,175,000 $309,817 $6,632 6.56%
    $150k-250k 146 $56,420,000 $386,438 $6,856 6.48%
    $75k-100k 144 $34,340,000 $238,472 $5,594 6.50%
    $250k+ 105 $54,955,000 $523,381 $9,209 6.80%
    $50k-75k 103 $21,725,000 $210,922 $5,167 6.14%
    $50k or less 25 $3,025,000 $121,000 $4,603 5.68%

    Bank Of Utah lent most frequently to those with incomes in the $100k-150k range, with 191 originations. The second most popular income band? $150k-250k, with 146 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 231 $46,235,000 $200,152 $0 0.00%
    30-36% 64 $24,240,000 $378,750 $6,521 6.55%
    50-60% 61 $18,545,000 $304,016 $7,975 6.60%
    20-30% 59 $22,335,000 $378,559 $5,684 6.30%
    45% 33 $9,125,000 $276,515 $5,092 6.19%
    49% 33 $14,705,000 $445,606 $7,534 6.37%
    43% 26 $11,010,000 $423,462 $5,651 6.50%
    42% 26 $11,140,000 $428,462 $7,013 6.32%
    44% 26 $10,440,000 $401,538 $5,927 6.44%
    <20% 24 $8,860,000 $369,167 $6,241 6.40%
    40% 23 $6,535,000 $284,130 $5,736 6.79%
    37% 20 $8,290,000 $414,500 $4,969 6.72%
    39% 19 $5,425,000 $285,526 $4,551 6.36%
    41% 19 $8,825,000 $464,474 $8,214 6.58%
    48% 18 $6,780,000 $376,667 $4,818 6.24%
    38% 16 $6,690,000 $418,125 $6,170 6.31%
    36% 16 $8,220,000 $513,750 $5,704 6.47%
    46% 12 $3,530,000 $294,167 $6,074 6.29%
    47% 9 $4,375,000 $486,111 $7,358 6.42%
    >60% 1 $295,000 $295,000 $0 7.50%

    Bank Of Utah lent most frequently to those with DTI ratios of Exempt%, with 231 originations. The next most common DTI ratio? 30-36%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 621 $191,485,000 $308,349 $6,137 6.46%
    Not applicable 12 $44,280,000 $3,690,000 $0 8.16%
    Not provided 86 $33,690,000 $391,744 $7,723 6.43%
    Asian 12 $5,090,000 $424,167 $6,147 6.50%
    American Indian 6 $1,860,000 $310,000 $6,059 6.50%
    Black 3 $1,315,000 $438,333 $4,776 6.21%
    Native Hawaiian or Islander 2 $650,000 $325,000 $14,186 6.19%
    Japanese 2 $600,000 $300,000 $79 6.75%
    Samoan 2 $330,000 $165,000 $5,151 6.38%
    Other Asian 1 $325,000 $325,000 $14,231 6.38%
    Other Pacific Islander 1 $255,000 $255,000 $5,922 4.75%

    Approval Rates

    Total approvals of all applications
    97.03%

    Bank Of Utah 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
    70.59%

    Bank Of Utah has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 231 $46,235,000 $200,152
    NA 517 $233,645,000 $451,925

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    748 $279,880,000 $374,171

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $17,215,000 $441,410 $5,600 6.37%
    40-60% 58 $50,430,000 $869,483 $7,480 6.36%
    60-80% 128 $68,430,000 $534,609 $6,345 6.49%
    80-100% 228 $94,170,000 $413,026 $7,523 6.30%
    Over 100% 4 $1,540,000 $385,000 $10,178 6.25%
    Under 20% 60 $1,860,000 $31,000 $835 7.40%