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. 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, Provo, Salt Lake City, and Billings among others. We have data for 35 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 12/3/24 |
| 30 Year Conventional Refi | 6.53% | 12/3/24 |
| 30 Year Cash-out Refi | 6.72% | 12/3/24 |
| 30 Year FHA Purchase | 7.62% | 12/3/24 |
| 30 Year FHA Refi | 6.27% | 12/3/24 |
| 30 Year VA Purchase | 6.23% | 12/3/24 |
| 30 Year USDA Purchase | 6.65% | 12/3/24 |
| 15 Year Conventional Purchase | 6.07% | 12/3/24 |
| 15 Year Conventional Refi | 6.04% | 12/3/24 |
| 15 Year Cash-out Refi | 6.04% | 12/3/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
678Origination Dollar Volume (All Markets)
$308,030,000Awards
Bank of Utah - 2022
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For 2022, less than of lenders were eligible for this award.
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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) | 231 | $103,265,000 | $447,035 | $7,674 | 4.52% |
| LOGAN, UT-ID (FHA|USDA|VA) | 138 | $51,310,000 | $371,812 | $8,281 | 4.53% |
| PROVO-OREM, UT (FHA|USDA|VA) | 35 | $33,555,000 | $958,714 | $11,368 | 4.75% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 59 | $22,825,000 | $386,864 | $10,402 | 4.93% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $20,405,000 | $20,405,000 | $0 | 5.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 42 | $14,700,000 | $350,000 | $7,895 | 4.80% |
| Outside of Metro Areas | 37 | $11,245,000 | $303,919 | $7,276 | 5.45% |
| Price, UT (FHA|USDA|VA) | 69 | $10,475,000 | $151,812 | $5,223 | 5.97% |
| BOISE CITY, ID (FHA|USDA|VA) | 4 | $7,880,000 | $1,970,000 | $12,222 | 5.55% |
| Heber, UT (FHA|USDA|VA) | 12 | $6,300,000 | $525,000 | $11,397 | 5.32% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $3,600,000 | $600,000 | $9,805 | 4.52% |
| Mountain Home, ID (FHA|USDA|VA) | 1 | $3,255,000 | $3,255,000 | $0 | 6.58% |
| Kapaa, HI (FHA|USDA|VA) | 1 | $2,455,000 | $2,455,000 | $0 | 4.50% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $2,145,000 | $429,000 | $3,615 | 5.28% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $1,845,000 | $615,000 | $6,283 | 4.17% |
| Cedar City, UT (FHA|USDA|VA) | 4 | $1,780,000 | $445,000 | $10,289 | 4.68% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $9,899 | 5.04% |
| POCATELLO, ID (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $8,033 | 5.63% |
| Vernal, UT (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $6,827 | 4.56% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $28,034 | 3.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $4,647 | 5.25% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 3.88% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 6.38% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $8,261 | 4.08% |
| Riverton, WY (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $7,949 | 6.25% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $8,277 | 3.50% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $10,617 | 5.13% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $8,561 | 4.88% |
| Deming, NM (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 5.36% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,491 | 6.38% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,803 | 4.63% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $10,638 | 5.25% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $8,554 | 5.00% |
| Granbury, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $7,232 | 4.63% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,434 | 5.63% |
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Product Mix
For 2022, Bank Of Utah's most frequently originated type of loan was Conventional, with 584 originations. Their 2nd most popular type was FHA, with 60 originations.
Loan Reason
For 2022, Bank Of Utah's most frequently cited loan purpose was Home Purchase, with 547 originations. The 2nd most popular reason was Cash Out Refi, with 81 originations.
Loan Duration/Length
For 2022, Bank Of Utah's most frequently cited loan duration was 30 Year, with 589 originations. The 2nd most popular length was 15 Year, with 53 originations.
Origination Fees/Closing Costs
Bank Of Utah's average total fees were $8,217, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 258 originations.
Interest Rates
During 2022, Bank Of Utah's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 3-4%, with 189 originations.
Loan Sizing
2022 saw Bank Of Utah place emphasis on $200k-400k loans with 273 originations, totaling $83,955,000 in origination value.
Applicant Income
Bank Of Utah lent most frequently to those with incomes in the $100k-150k range, with 188 originations. The second most popular income band? $50k-75k, with 163 originations.
Applicant Debt to Income Ratio
Bank Of Utah lent most frequently to those with DTI ratios of 30-36%, with 110 originations. The next most common DTI ratio? 20-30%, with 98 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.00%
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 origination63.13%
Bank Of Utah has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 678 | $308,030,000 | $454,322 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 7 | 46.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| BANK OF AMERICA, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 6.7% |