Utah Power Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 549300TTK5T7CZ3UJ084
Tax ID: 87-0188878
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Utah Power is a smaller mortgage company specializing in Cash Out Refi and Refi loans. Utah Power has a high proportion of conventional loans. Their top markets include Salt Lake City, Price, Ogden, Rock Springs, and Provo among others. Utah Power has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Utah Power is typically an average fee lendor.Originations
447Origination Dollar Volume (All Markets)
$84,785,000Awards
Utah Power - 2021
Utah Power is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for Utah Power?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Utah Power's average 30 year fixed rate mortgage of loans were
2.73%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.42%.
Relative Fees
Utah Power's average total fees for a 30 year fixed rate
mortgage are $4,637.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 84 | $22,000,000 | $261,905 | $4,601 | 2.86% |
| Outside of Metro Areas | 103 | $15,255,000 | $148,107 | $3,981 | 2.78% |
| Price, UT (FHA|USDA|VA) | 89 | $11,025,000 | $123,876 | $3,325 | 2.97% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 31 | $7,915,000 | $255,323 | $4,592 | 2.81% |
| Rock Springs, WY (FHA|USDA|VA) | 36 | $6,720,000 | $186,667 | $3,245 | 2.88% |
| PROVO-OREM, UT (FHA|USDA|VA) | 25 | $5,685,000 | $227,400 | $5,167 | 2.93% |
| ST. GEORGE, UT (FHA|USDA|VA) | 10 | $2,040,000 | $204,000 | $4,321 | 2.91% |
| Vernal, UT (FHA|USDA|VA) | 11 | $1,775,000 | $161,364 | $4,146 | 2.81% |
| Cedar City, UT (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $4,862 | 2.90% |
| CASPER, WY (FHA|USDA|VA) | 7 | $1,125,000 | $160,714 | $3,170 | 2.84% |
| LOGAN, UT-ID (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $5,517 | 2.53% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $8,809 | 2.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $0 | 2.56% |
| Heber, UT (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,178 | 3.37% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 2.63% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 2.63% |
| SALEM, OR (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $7,962 | 2.50% |
| Evanston, WY (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 3.54% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,326 | 2.63% |
| Newport, OR (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 3.13% |
| Hilo, HI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 3.00% |
| POCATELLO, ID (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,807 | 2.63% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,283 | 2.63% |
| Riverton, WY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,396 | 2.63% |
| BEND, OR (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 2.63% |
| Blackfoot, ID (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $3,521 | 2.56% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $3,728 | 2.63% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,736 | 2.63% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 2.69% |
| CHICO, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 2.63% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 2.63% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,548 | 2.63% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.99% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,789 | 2.50% |
| Bradford, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.63% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.50% |
| Gillette, WY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.99% |
| Branson, MO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,206 | 3.63% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.99% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.99% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.88% |
Utah Power's top markets include Salt Lake City, Price, Ogden, Rock Springs, and Provo among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 447 | $84,785,000 | $189,676 | $4,405 | 2.87% |
For the 2021 period, Utah Power's most frequently originated loan type of loans were Conventional, with 447 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 167 | $39,705,000 | $237,754 | $4,548 | 2.70% |
| Refi | 149 | $27,785,000 | $186,477 | $4,055 | 2.65% |
| Home Purchase | 69 | $13,735,000 | $199,058 | $4,794 | 2.91% |
| Other | 62 | $3,560,000 | $57,419 | $3,238 | 3.80% |
For the 2021, Utah Power's most frequently cited loan purpose of loans were Cash Out Refi, with 167 originations. The 2nd most popular reason of loans were Refi, with 149 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 258 | $62,540,000 | $242,403 | $4,637 | 2.73% |
| 15 Year | 111 | $15,165,000 | $136,622 | $3,580 | 2.76% |
| 10 Year | 46 | $3,200,000 | $69,565 | $2,106 | 4.07% |
| 5 Year | 18 | $850,000 | $47,222 | $2,430 | 2.66% |
| 20 Year | 12 | $2,950,000 | $245,833 | $4,639 | 2.63% |
| Other | 2 | $80,000 | $40,000 | $4,047 | 2.99% |
For the 2021, Utah Power's most frequently cited loan length of loans were 30 Year, with 258 originations. The 2nd most popular length of loans were 15 Year, with 111 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 50 | $11,290,000 | $225,800 |
| $3k-4k | 32 | $13,700,000 | $428,125 |
| $1k-2k | 28 | $3,440,000 | $122,857 |
| $<1k | 15 | $2,625,000 | $175,000 |
$4,637 of loans were Utah Power's average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 50 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 259 | $61,385,000 | $237,008 |
| <2.5% | 99 | $13,985,000 | $141,263 |
| 3-4% | 71 | $7,815,000 | $110,070 |
| 4-5% | 16 | $1,330,000 | $83,125 |
| 5-6% | 2 | $270,000 | $135,000 |
During 2021, Utah Power's average interest rate of loans were 2.73%, while their most frequently originated rate bucket of loans were 2.5-3%, with 259 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 162 | $24,170,000 | $149,198 | $3,458 | 2.78% |
| $200k-400k | 141 | $40,065,000 | $284,149 | $4,689 | 2.67% |
| $100,000 or less | 114 | $6,420,000 | $56,316 | $2,540 | 3.28% |
| $400k-600k | 29 | $13,425,000 | $462,931 | $6,938 | 2.77% |
| $600k-1MM | 1 | $705,000 | $705,000 | $7,273 | 2.88% |
2021 saw Utah Power place emphasis on $100k-200k loans with 162 originations, totaling $24,170,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 115 | $26,935,000 | $234,217 | $4,732 | 2.87% |
| $50k-75k | 104 | $16,400,000 | $157,692 | $3,757 | 2.79% |
| $75k-100k | 99 | $17,115,000 | $172,879 | $4,192 | 3.00% |
| $50k or less | 71 | $9,545,000 | $134,437 | $3,406 | 2.81% |
| $150k-250k | 52 | $12,650,000 | $243,269 | $5,293 | 2.84% |
| $250k+ | 5 | $1,785,000 | $357,000 | $5,699 | 3.00% |
Utah Power lent most frequently to those with incomes in the $100k-150k range, with 115 originations. The second most popular income band? $50k-75k, with 104 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 144 | $27,360,000 | $190,000 | $4,328 | 2.84% |
| <20% | 90 | $13,890,000 | $154,333 | $3,755 | 2.85% |
| 30-36% | 89 | $19,755,000 | $221,966 | $4,927 | 2.86% |
| 36% | 21 | $4,135,000 | $196,905 | $4,236 | 2.92% |
| 39% | 17 | $3,345,000 | $196,765 | $5,243 | 2.92% |
| 37% | 16 | $2,960,000 | $185,000 | $4,484 | 2.93% |
| 38% | 13 | $2,285,000 | $175,769 | $4,481 | 3.27% |
| 40% | 11 | $1,895,000 | $172,273 | $4,551 | 2.87% |
| 41% | 10 | $1,460,000 | $146,000 | $3,759 | 3.06% |
| 42% | 8 | $1,490,000 | $186,250 | $3,643 | 2.75% |
| 44% | 8 | $1,940,000 | $242,500 | $0 | 2.91% |
| 46% | 6 | $1,420,000 | $236,667 | $3,949 | 2.62% |
| 45% | 4 | $700,000 | $175,000 | $3,306 | 2.78% |
| 50-60% | 3 | $785,000 | $261,667 | $0 | 2.46% |
| 47% | 2 | $380,000 | $190,000 | $0 | 2.63% |
| 48% | 2 | $340,000 | $170,000 | $4,453 | 3.06% |
| 43% | 2 | $250,000 | $125,000 | $0 | 2.63% |
| 49% | 1 | $395,000 | $395,000 | $0 | 3.25% |
Utah Power lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? <20%, with 90 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 374 | $69,330,000 | $185,374 | $4,371 | 2.86% |
| Not provided | 68 | $14,970,000 | $220,147 | $4,691 | 2.93% |
| Black | 2 | $360,000 | $180,000 | $0 | 2.56% |
| American Indian | 2 | $80,000 | $40,000 | $2,141 | 3.75% |
| Native Hawaiian | 1 | $45,000 | $45,000 | $0 | 2.99% |
Approval Rates
Total approvals of all applications95.57%
Utah Power has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination90.72%
Utah Power has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 447 | $84,785,000 | $189,676 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 447 | $84,785,000 | $189,676 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 59 | $7,155,000 | $121,271 | $3,414 | 2.92% |
| 40-60% | 109 | $20,745,000 | $190,321 | $4,248 | 2.80% |
| 60-80% | 188 | $42,750,000 | $227,394 | $4,742 | 2.80% |
| 80-100% | 53 | $12,275,000 | $231,604 | $4,780 | 2.73% |
| Under 20% | 38 | $1,860,000 | $48,947 | $3,238 | 3.55% |
