Logan FHA Loan Rates, Closing Costs & Stats

LOGAN, UT-ID

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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.

    Logan's 54 lenders originated 414 FHA loans during 2024. The total origination value was $145,100,000, with an average FHA loan value of $350,483.

    Logan FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Logan averaged -0.04% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Logan's average FHA mortgage closing costs are $9,940.

    The average rate for the prior week (2025-06-13) was 6.54% and one month ago for the week of 2025-05-16, the average rate was 6.5%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.39%.

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

    Logan 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 Logan level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 77 6.14% $16,051
    UNITED WHOLESALE MORTGAGE, LLC 61 6.07% $13,031
    FIRST COLONY MORTGAGE CORPORATION 58 6.12% $14,162
    Bank of Utah 23 6.07% $8,252
    QUICKEN LOANS, LLC 16 6.09% $14,738
    Century Mortgage Company DBA Century Lending Company 13 5.74% $14,749
    Paramount Residential Mortgage Group, Inc. 8 6.55% $15,385
    The Loan Store, Inc. 8 5.93% $13,047
    PENNYMAC LOAN SERVICES, LLC 7 5.75% $10,781
    INTERCAP LENDING INC. 7 6.25% $14,079
    Sierra Pacific Mortgage Company, Inc. 7 5.91% $14,431
    MOUNTAIN AMERICA 6 5.33% $13,320
    GOLDENWEST 6 6.35% $12,401
    Plains Commerce Bank 5 6.30% $12,398
    AMERICA FIRST 5 6.43% $9,602
    BROKER SOLUTIONS, INC. 4 6.50% $15,650
    RANLIFE, INC. 4 5.59% $19,436
    FREEDOM MORTGAGE CORPORATION 4 6.38% $20,949
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.19% $15,463
    LOANDEPOT.COM, LLC 4 6.19% $17,968
    SECURITYNATIONAL MORTGAGE COMPANY 3 7.04% $17,038
    DIRECT MORTGAGE, CORP. 3 6.54% $14,320
    MOVEMENT MORTGAGE, LLC 3 6.75% $14,186
    CANOPY MORTGAGE, LLC 3 6.58% $14,260
    AMERICAN FINANCING CORPORATION 2 5.94% $17,338
    CASTLE & COOKE MORTGAGE, LLC 2 6.63% $16,068
    LAKEVIEW LOAN SERVICING, LLC 2 6.00% $10,224
    Utah Mortgage Loan Corporation 2 5.88% $12,709
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.50% $15,345
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.38% $13,021
    VILLAGE CAPITAL MORTGAGE 1 6.25% $8,396
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $8,343
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $13,447
    AXIA FINANCIAL, LLC 1 6.25% $16,031
    Cache Valley Bank 1 6.63% $9,148
    Carrington Mortgage Services, LLC 1 6.13% $18,108
    Equity Prime Mortgage LLC 1 8.25% $14,965
    Glacier Bank 1 5.50% $15,104
    HOMESIDE FINANCIAL, LLC 1 6.38% $7,803
    Hometown Equity Mortgage, LLC 1 6.13% $11,343
    JMAC LENDING, INC. 1 5.50% $14,104
    JPMorgan Chase Bank 1 5.99% $8,776
    LOANPAL, LLC 1 5.25% $24,678
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $6,562
    NATIONS RELIABLE LENDING, LLC 1 5.25% $13,431
    ON Q FINANCIAL, INC. 1 6.63% $15,029
    Opportunity Bank of Montana 1 5.63% $14,478
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $12,950
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $18,699
    SECURITY HOME MORTGAGE, LLC. 1 5.75% $11,887
    SUMMIT FUNDING, INC. 1 6.00% $9,848
    SUN WEST MORTGAGE COMPANY, INC. 1 5.75% $21,495
    The Federal Savings Bank 1 5.88% $22,944
    ADVANTAGE PLUS 1 6.50% $11,420

    The top Logan FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 77 FHA loans originated. Their average total fees are $16,051, which is $3,020 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Logan FHA lenders (with over 10 loans originated) are Bank of Utah ($8,252), UNITED WHOLESALE MORTGAGE, LLC ($13,031), FIRST COLONY MORTGAGE CORPORATION ($14,162), QUICKEN LOANS, LLC ($14,738) and Century Mortgage Company DBA Century Lending Company ($14,749).

    The lowest rate Logan FHA lenders (with over 10 loans originated) are Century Mortgage Company DBA Century Lending Company (5.74%), UNITED WHOLESALE MORTGAGE, LLC (6.07%), Bank of Utah (6.07%), QUICKEN LOANS, LLC (6.09%) and FIRST COLONY MORTGAGE CORPORATION (6.12%).

    Logan FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LOGAN, UT-ID FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    LOGAN, UT-ID CACHE 2022 $420,680 $538,650 $651,050 $809,150
    LOGAN, UT-ID FRANKLIN 2023 $492,200 $630,100 $761,650 $946,550
    LOGAN, UT-ID CACHE 2023 $492,200 $630,100 $761,650 $946,550

    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).