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 Home Purchase and Cash Out Refi loans. Utah Power has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Ogden, Rock Springs, Provo, and Price among others. We have data for 27 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 an above average pick rate when compared to similar lenders.
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 | 5.28% | 4/21/24 |
| 30 Year Conventional Refi | 5.40% | 4/21/24 |
| 30 Year Cash-out Refi | 5.43% | 4/21/24 |
| 15 Year Conventional Purchase | 5.21% | 4/21/24 |
| 15 Year Conventional Refi | 5.49% | 4/21/24 |
| 15 Year Cash-out Refi | 5.49% | 4/21/24 |
| 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
141Origination Dollar Volume (All Markets)
$26,485,000Top 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) | 28 | $6,790,000 | $242,500 | $0 | 0.00% |
| Outside of Metro Areas | 36 | $4,470,000 | $124,167 | $0 | 0.00% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 11 | $2,895,000 | $263,182 | $0 | 0.00% |
| Rock Springs, WY (FHA|USDA|VA) | 10 | $2,000,000 | $200,000 | $0 | 0.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 8 | $1,860,000 | $232,500 | $0 | 0.00% |
| Price, UT (FHA|USDA|VA) | 15 | $1,755,000 | $117,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $0 | 0.00% |
| CASPER, WY (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $0 | 0.00% |
| LOGAN, UT-ID (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $0 | 0.00% |
| Heber, UT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| Vernal, UT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Riverton, WY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| POCATELLO, ID (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Evanston, WY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Blackfoot, ID (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Searcy, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
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: 294
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Similarity Rank: 1334
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 141 | $26,485,000 | $187,837 | $0 | 0.00% |
For 2018, Utah Power's most frequently originated type of loan was Conventional, with 141 originations.
Loan Reason
For 2018, Utah Power's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 141 | $26,485,000 | $187,837 | $0 | 0.00% |
For 2018, Utah Power's most frequently cited loan duration was Other, with 141 originations.
Loan Sizing
2018 saw Utah Power place emphasis on $100k-200k loans with 59 originations, totaling $8,665,000 in origination value.
Applicant Income
Utah Power lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $75k-100k, with 35 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 141 | $26,485,000 | $187,837 | $0 | 0.00% |
Utah Power lent most frequently to those with DTI ratios of Exempt%, with 141 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 138 | $25,780,000 | $186,812 | $0 | 0.00% |
| Asian | 3 | $705,000 | $235,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.18%
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 origination92.91%
Utah Power has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 141 | $26,485,000 | $187,837 |