Cedar City FHA Loan Rates, Closing Costs & Stats

Cedar City, UT

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Cedar City's 49 lenders originated 264 FHA loans during 2024. The total origination value was $88,520,000, with an average FHA loan value of $335,303.

    Cedar City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Cedar City averaged 6.78% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Cedar City's average FHA mortgage closing costs are $10,147.

    The average rate for the prior week (2025-07-11) was 6.48% and one month ago for the week of 2025-06-13, the average rate was 6.53%.

    The average rate one year ago was 6.8%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.42%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Cedar City FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Cedar City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 39 6.21% $17,584
    UNITED WHOLESALE MORTGAGE, LLC 31 6.19% $13,580
    AMERICAN FINANCIAL NETWORK, INC. 27 5.88% $14,074
    DHI MORTGAGE COMPANY, LTD. 14 5.57% $9,418
    MOUNTAIN AMERICA 11 5.45% $12,765
    BROKER SOLUTIONS, INC. 10 6.51% $15,501
    INTERCAP LENDING INC. 10 6.11% $14,349
    QUICKEN LOANS, LLC 9 5.94% $14,023
    SECURITYNATIONAL MORTGAGE COMPANY 8 6.66% $12,192
    SUN AMERICAN MORTGAGE COMPANY 7 5.89% $13,477
    FIRST COLONY MORTGAGE CORPORATION 5 5.80% $16,413
    Century Mortgage Company DBA Century Lending Company 5 6.00% $15,316
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 5 6.08% $15,026
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.44% $14,816
    PENNYMAC LOAN SERVICES, LLC 3 5.96% $16,255
    CMG MORTGAGE, INC. 3 5.88% $12,707
    American Mortgage & Equity Consultants, Inc. 2 6.25% $17,209
    CARDINAL FINANCIAL 2 6.25% $13,967
    The Loan Store, Inc. 2 6.38% $13,439
    TOWNE MORTGAGE COMPANY 2 6.18% $12,168
    CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $11,624
    RANLIFE, INC. 2 6.69% $16,578
    PLAZA HOME MORTGAGE, INC. 2 5.75% $9,978
    LOANPAL, LLC 1 5.75% $15,666
    CASTLE & COOKE MORTGAGE, LLC 1 6.75% $14,943
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $11,655
    NEWREZ LLC 1 5.75% $11,157
    ON Q FINANCIAL, INC. 1 6.75% $15,049
    Paramount Residential Mortgage Group, Inc. 1 7.38% $17,572
    Carrington Mortgage Services, LLC 1 5.63% $17,665
    PHH Mortgage Corporation 1 5.13% $8,474
    Plains Commerce Bank 1 6.00% $17,119
    BAY EQUITY LLC 1 6.63% $8,963
    Barrington Bank & Trust Company, N.A. 1 6.75% $10,884
    S1L, Inc. 1 5.75% $13,685
    SECURITY HOME MORTGAGE, LLC. 1 6.25% $12,191
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $12,004
    Sierra Pacific Mortgage Company, Inc. 1 5.13% $13,668
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $13,454
    AMERICAN FINANCING CORPORATION 1 5.13% $13,934
    U.S. Bank 1 7.38% $10,891
    Equity Prime Mortgage LLC 1 5.75% $15,756
    VILLAGE CAPITAL MORTGAGE 1 6.50% $7,841
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $10,921
    DIRECT MORTGAGE, CORP. 1 4.63% $19,772
    FREEDOM MORTGAGE CORPORATION 1 6.63% $5,573
    CORNERSTONE HOME LENDING, INC. 1 6.75% $16,139
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $11,949
    LOANDEPOT.COM, LLC 1 5.75% $15,964

    The top Cedar City FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 39 FHA loans originated. Their average total fees are $17,584, which is $4,004 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Cedar City FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,418), MOUNTAIN AMERICA ($12,765), UNITED WHOLESALE MORTGAGE, LLC ($13,580), AMERICAN FINANCIAL NETWORK, INC. ($14,074) and INTERCAP LENDING INC. ($14,349).

    The lowest rate Cedar City FHA lenders (with over 10 loans originated) are MOUNTAIN AMERICA (5.45%), DHI MORTGAGE COMPANY, LTD. (5.57%), AMERICAN FINANCIAL NETWORK, INC. (5.88%), INTERCAP LENDING INC. (6.11%) and UNITED WHOLESALE MORTGAGE, LLC (6.19%).

    Cedar City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CEDAR CITY, UT IRON 2022 $420,680 $538,650 $651,050 $809,150
    CEDAR CITY, UT IRON 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).