Bank Of Utah Mortgage Rates, Fees & Info
Ogden, UTLEI: 549300NNL9H573MWO110
Tax ID: 87-0218467
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Mortgage Data
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: Salt Lake City, Ogden, Logan, Idaho Falls, and Heber among others. We have data for 30 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 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 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.
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 | 6.72% | 11/17/24 |
| 30 Year Conventional Refi | 6.53% | 11/17/24 |
| 30 Year Cash-out Refi | 6.72% | 11/17/24 |
| 30 Year FHA Purchase | 7.62% | 11/17/24 |
| 30 Year FHA Refi | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.23% | 11/17/24 |
| 30 Year USDA Purchase | 6.65% | 11/17/24 |
| 15 Year Conventional Purchase | 6.07% | 11/17/24 |
| 15 Year Conventional Refi | 6.04% | 11/17/24 |
| 15 Year Cash-out Refi | 6.04% | 11/17/24 |
| 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. | ||
Bank Of Utah Mortgage Calculator
Your Estimates
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This is not an official calculator from Bank Of Utah. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
752Origination Dollar Volume (All Markets)
$321,870,000Awards
Bank of Utah - 2023
Bank of Utah is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Bank Of Utah's average 30 year fixed mortgage rate was
6.69%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.21%.
Relative Fees (Closing Costs)
Bank Of Utah's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,753.
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 $9,089.
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 |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 110 | $100,420,000 | $912,909 | $8,661 | 6.91% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 245 | $87,415,000 | $356,796 | $6,621 | 6.45% |
| LOGAN, UT-ID (FHA|USDA|VA) | 146 | $45,090,000 | $308,836 | $7,008 | 6.53% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 2 | $18,820,000 | $9,410,000 | $13,559 | 7.25% |
| Heber, UT (FHA|USDA|VA) | 23 | $12,975,000 | $564,130 | $13,238 | 6.75% |
| ST. GEORGE, UT (FHA|USDA|VA) | 48 | $12,230,000 | $254,792 | $6,712 | 6.81% |
| Outside of Metro Areas | 44 | $10,350,000 | $235,227 | $6,513 | 7.04% |
| PROVO-OREM, UT (FHA|USDA|VA) | 33 | $9,425,000 | $285,606 | $8,378 | 6.60% |
| Price, UT (FHA|USDA|VA) | 63 | $8,735,000 | $138,651 | $4,589 | 7.19% |
| Kapaa, HI (FHA|USDA|VA) | 2 | $6,540,000 | $3,270,000 | $0 | 9.50% |
| POCATELLO, ID (FHA|USDA|VA) | 6 | $1,990,000 | $331,667 | $6,730 | 6.81% |
| Cedar City, UT (FHA|USDA|VA) | 5 | $1,715,000 | $343,000 | $1,410 | 6.79% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $920,000 | $460,000 | $4,889 | 7.50% |
| Rexburg, ID (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $17,520 | 7.06% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $11,533 | 6.00% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 8.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $2,911 | 6.38% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,711 | 7.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 6.89% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,628 | 6.75% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,987 | 6.88% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $6,025 | 7.50% |
| Vernal, UT (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $2,297 | 7.56% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,525 | 7.13% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $0 | 0.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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.
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Product Mix
For 2023, Bank Of Utah's most frequently originated type of loan was Conventional, with 377 originations. Their 2nd most popular type was Conventional, with 262 originations.
Loan Reason
For 2023, Bank Of Utah's most frequently cited loan purpose was Home Purchase, with 464 originations. The 2nd most popular reason was Other, with 183 originations.
Loan Duration/Length
For 2023, Bank Of Utah's most frequently cited loan duration was 30 Year, with 442 originations. The 2nd most popular length was Other, with 268 originations.
Origination Fees/Closing Costs
Bank Of Utah's average total fees were $6,753, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 181 originations.
Interest Rates
During 2023, Bank Of Utah's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 220 originations.
Loan Sizing
2023 saw Bank Of Utah place emphasis on $200k-400k loans with 262 originations, totaling $76,990,000 in origination value.
Applicant Income
Bank Of Utah lent most frequently to those with incomes in the $100k-150k range, with 210 originations. The second most popular income band? $150k-250k, with 150 originations.
Applicant Debt to Income Ratio
Bank Of Utah lent most frequently to those with DTI ratios of Exempt%, with 262 originations. The next most common DTI ratio? 30-36%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.66%
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 origination73.94%
Bank Of Utah has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 262 | $47,200,000 | $180,153 |
| NA | 490 | $274,670,000 | $560,551 |