Utah Power Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 549300TTK5T7CZ3UJ084
Tax ID: 87-0188878
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Mortgage Data
Review & Overview
Utah Power is a smaller mortgage company specializing in Other and Home Purchase loans. Utah Power has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Price, Ogden, Rock Springs, and Provo among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)Utah Power 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. Utah Power 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.28% | 12/16/24 |
| 30 Year Conventional Refi | 5.40% | 12/16/24 |
| 30 Year Cash-out Refi | 5.43% | 12/16/24 |
| 15 Year Conventional Purchase | 5.21% | 12/16/24 |
| 15 Year Conventional Refi | 5.49% | 12/16/24 |
| 15 Year Cash-out Refi | 5.49% | 12/16/24 |
| 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 Power Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
298Origination Dollar Volume (All Markets)
$44,060,000Awards
Utah Power - 2023
Utah Power is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Utah Power's average 30 year fixed mortgage rate was
5.65%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.83%.
Relative Fees (Closing Costs)
Utah Power's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,532.
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) | 51 | $10,845,000 | $212,647 | $6,382 | 6.38% |
| Price, UT (FHA|USDA|VA) | 78 | $7,590,000 | $97,308 | $4,187 | 6.83% |
| Outside of Metro Areas | 59 | $7,275,000 | $123,305 | $4,637 | 6.62% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 18 | $2,870,000 | $159,444 | $6,865 | 6.72% |
| Rock Springs, WY (FHA|USDA|VA) | 16 | $1,680,000 | $105,000 | $4,296 | 6.95% |
| PROVO-OREM, UT (FHA|USDA|VA) | 10 | $1,390,000 | $139,000 | $5,327 | 6.63% |
| ST. GEORGE, UT (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $5,188 | 6.40% |
| Vernal, UT (FHA|USDA|VA) | 11 | $1,025,000 | $93,182 | $5,538 | 6.99% |
| Rexburg, ID (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $5,833 | 5.33% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $5,574 | 6.54% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $6,460 | 6.81% |
| Cedar City, UT (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $5,980 | 6.17% |
| LOGAN, UT-ID (FHA|USDA|VA) | 5 | $555,000 | $111,000 | $4,991 | 6.40% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 6.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $7,715 | 6.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,420 | 5.63% |
| Blackfoot, ID (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $6,625 | 6.00% |
| CASPER, WY (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $4,550 | 6.44% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 5.88% |
| BEND, OR (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,732 | 5.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $7,344 | 5.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,020 | 5.00% |
| Evanston, WY (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,352 | 5.88% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,034 | 5.88% |
| Laramie, WY (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,986 | 6.13% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,062 | 5.63% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,612 | 4.99% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,752 | 5.00% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 7.25% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,920 | 5.88% |
| Gillette, WY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.33% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,801 | 6.75% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 7.38% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.50% |
| Heber, UT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.75% |
| Montrose, CO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.00% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.50% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Utah Power based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 234
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 281 | $43,235,000 | $153,861 | $5,238 | 6.56% |
| HELOC | 17 | $825,000 | $48,529 | n/a | 7.41% |
For 2023, Utah Power's most frequently originated type of loan was Conventional, with 281 originations. Their 2nd most popular type was HELOC, with 17 originations.
Loan Reason
For 2023, Utah Power's most frequently cited loan purpose was Other, with 175 originations. The 2nd most popular reason was Home Purchase, with 97 originations.
Loan Duration/Length
For 2023, Utah Power's most frequently cited loan duration was 10 Year, with 111 originations. The 2nd most popular length was 30 Year, with 105 originations.
Origination Fees/Closing Costs
Utah Power's average total fees were $5,532, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 39 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 94 | $12,150,000 | $129,255 |
| 7-8% | 92 | $5,890,000 | $64,022 |
| 4-5% | 54 | $15,920,000 | $294,815 |
| 5-6% | 41 | $8,975,000 | $218,902 |
| Over 8% | 17 | $1,125,000 | $66,176 |
During 2023, Utah Power's average interest rate for loans was 5.65%, while their most frequently originated rate bucket for loans was 6-7%, with 94 originations.
Loan Sizing
2023 saw Utah Power place emphasis on $100,000 or less loans with 165 originations, totaling $8,015,000 in origination value.
Applicant Income
Utah Power lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $75k-100k, with 57 originations.
Applicant Debt to Income Ratio
Utah Power lent most frequently to those with DTI ratios of 20-30%, with 77 originations. The next most common DTI ratio? 30-36%, with 70 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.99%
Utah Power has an average approval rate.
Pick Rate
Approvals leading to origination86.91%
Utah Power has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 298 | $44,060,000 | $147,852 |