Vernal Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Vernal averaged 6.79% for the week of 2023-09-14, compared to the national average of 7.18% for the same period.

    The average rate for the prior week (2023-09-07) was 6.73% and one month ago for the week of 2023-08-10, the average rate was 6.97%.

    Vernal's average rate one year ago was 5.9%.

    For refis of the same type during the week of 2023-09-14, the average rate was 5.96%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-09-14 7.18%
    Vernal 30 Year Fixed Rate 2023-09-14 6.79%
    Vernal 30 Year Fixed Rate Refi 2023-09-14 5.96%
    Vernal 15 Year Fixed Rate 2023-09-14 6.31%
    Vernal 15 Year Fixed Rate Refi 2023-09-14 6.91%
    Vernal 30 Year FHA 2023-09-14 6.47%
    Vernal 30 Year FHA Refi 2023-09-14 6.89%
    Vernal 30 Year USDA 2023-09-14 7.18%
    Vernal 30 Year USDA Refi 2023-09-14 7.18%
    Vernal 30 Year VA 2023-09-14 6.61%
    Vernal 30 Year VA Refi 2023-09-14 7.01%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Vernal, UT.

    Vernal Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Vernal, UT market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    MOUNTAIN AMERICA 77 4.84% $5,251
    UNITED WHOLESALE MORTGAGE, LLC 38 4.95% $5,879
    GUILD MORTGAGE COMPANY 31 5.08% $7,275
    INTERCAP LENDING INC. 26 4.97% $5,993
    QUICKEN LOANS, LLC 18 4.49% $6,525
    ACADEMY MORTGAGE CORPORATION 15 4.98% $8,023
    CALIBER HOME LOANS, INC. 10 5.22% $6,319
    Wells Fargo Bank 10 4.70% $4,417
    GRANITE FEDERAL CREDIT UNION 8 3.66% $3,810
    Zions Bank 7 4.48% $5,510
    LOANDEPOT.COM, LLC 7 4.17% $6,674
    SECURITYNATIONAL MORTGAGE COMPANY 5 5.80% $7,294
    Utah Power 5 4.58% $5,318
    FIRST COLONY MORTGAGE CORPORATION 5 4.65% $5,008
    SECURITY HOME MORTGAGE, LLC. 5 4.80% $6,691
    Grand Valley Bank 5 4.20% $3,703
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.50% $3,672
    Mr. Cooper ( Nationstar Mortgage ) 4 4.19% $10,114
    AMERICA FIRST 4 5.44% $4,954
    AMERICAN FINANCING CORPORATION 4 4.00% $4,656
    CROSSCOUNTRY MORTGAGE, LLC 4 4.98% $12,792
    HOME POINT FINANCIAL CORPORATION 3 4.37% $6,170
    PENNYMAC LOAN SERVICES, LLC 2 3.69% $5,731
    CITYWIDE HOME LOANS, LLC 2 6.31% $6,721
    CASTLE & COOKE MORTGAGE, LLC 2 5.75% $13,257
    BROKER SOLUTIONS, INC. 2 4.37% $4,851
    USAA Federal Savings Bank 2 5.94% $3,650
    CANOPY MORTGAGE, LLC 2 4.00% $3,665
    UTAH COMMUNITY 2 4.88% $8,159
    Utah Mortgage Loan Corporation 2 4.06% $5,545
    AMERISAVE MORTGAGE CORPORATION 2 4.00% $7,233
    NBH Bank 2 4.13% $4,272
    Glacier Bank 2 3.81% $3,914
    LAKEVIEW LOAN SERVICING, LLC 2 4.12% $2,411
    MEGASTAR FINANCIAL CORP. 1 3.75% $9,833
    Mortgage Research Center, LLC 1 4.99% $149
    NEWREZ LLC 1 5.63% $9,915
    Paramount Residential Mortgage Group, Inc. 1 4.99% $6,264
    Plains Commerce Bank 1 3.88% $7,854
    PNC Bank 1 6.25% $4,824
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.50% $4,051
    PROVIDENT FUNDING ASSOCIATES, L.P. 1 6.88% $4,704
    BAY EQUITY LLC 1 3.75% $3,949
    RANLIFE, INC. 1 4.13% $7,349
    Bank of Utah 1 5.00% $9,142
    Arvest Bank 1 4.13% $6,824
    SECURITY SERVICE 1 2.88% $2,037
    Sierra Pacific Mortgage Company, Inc. 1 6.50% $8,047
    The Federal Savings Bank 1 5.88% $3,405
    ANGEL OAK MORTGAGE SOLUTIONS LLC 1 5.00% $10,281
    U.S. Bank 1 3.75% $2,803
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.63% $4,971
    EVERETT FINANCIAL, INC. 1 4.13% $2,735
    AMERICAN INTERNET MORTGAGE, INC. 1 2.88% $3,857
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.75% $2,682
    Fifth Third Bank 1 6.38% $5,124
    DIRECT MORTGAGE, CORP. 1 3.88% $8,159
    First Guaranty Mortgage Corporation 1 5.38% $8,168
    First National Bank of America 1 7.50% $5,546
    FREEDOM MORTGAGE CORPORATION 1 4.88% $6,720
    Gateway First Bank 1 3.88% $475
    GOLDENWEST 1 4.63% $3,467
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 5.00% $3,353
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.88% $6,478
    Citadel Servicing Corporation 1 10.50% $9,594
    Century Mortgage Company DBA Century Lending Company 1 5.88% $4,990

    Vernal Average Closing Costs & Other Stats

    Vernal, UT's 66 lenders originated 1,308 loans during 2022. The total origination value was $271,150,000, with an average loan value of $207,301.

    Vernal's average closing costs are $5,995.

    The top Vernal lender as defined by loan originations is MOUNTAIN AMERICA, with 77 loans originated. Their average total fees are $5,251, which is $628 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Vernal lenders (with over 10 loans originated) are Wells Fargo Bank ($4,417), MOUNTAIN AMERICA ($5,251), UNITED WHOLESALE MORTGAGE, LLC ($5,879), INTERCAP LENDING INC. ($5,993) and CALIBER HOME LOANS, INC. ($6,319).

    The lowest rate Vernal lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.49%), Wells Fargo Bank (4.70%), MOUNTAIN AMERICA (4.84%), UNITED WHOLESALE MORTGAGE, LLC (4.95%) and INTERCAP LENDING INC. (4.97%).

    Vernal, UT Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    MOUNTAIN AMERICA $83,080,000 $64,460,000 -22.4% 23.8%
    GUILD MORTGAGE COMPANY $46,505,000 $22,420,000 -51.8% 8.3%
    INTERCAP LENDING INC. $31,240,000 $19,470,000 -37.7% 7.2%
    UNITED WHOLESALE MORTGAGE, LLC $32,500,000 $19,430,000 -40.2% 7.2%
    WALKER & DUNLOP, LLC $18,480,000 n/a 6.8%
    Zions Bancorporation, N.A. $20,720,000 $11,985,000 -42.2% 4.4%
    ACADEMY MORTGAGE CORPORATION $18,700,000 $11,655,000 -37.7% 4.3%
    QUICKEN LOANS, LLC $13,940,000 $8,305,000 -40.4% 3.1%
    CALIBER HOME LOANS, INC. $6,140,000 $6,475,000 5.5% 2.4%
    Central Bank $320,000 $4,485,000 1,301.6% 1.7%
    Grand Valley Bank $6,410,000 $4,275,000 -33.3% 1.6%
    Wells Fargo Bank $5,305,000 $3,830,000 -27.8% 1.4%
    UTAH COMMUNITY $1,160,000 $3,360,000 189.7% 1.2%
    LOANDEPOT.COM, LLC $4,310,000 $2,870,000 -33.4% 1.1%
    HOME POINT FINANCIAL CORPORATION $4,950,000 $2,825,000 -42.9% 1.0%
    Utah Power $1,775,000 $2,650,000 49.3% 1.0%
    SECURITY HOME MORTGAGE, LLC. $1,675,000 $2,595,000 54.9% 1.0%
    AMERICA FIRST $2,680,000 $2,515,000 -6.2% 0.9%
    BROKER SOLUTIONS, INC. $1,405,000 $2,490,000 77.2% 0.9%
    Northpointe Bank $3,460,000 $2,470,000 -28.6% 0.9%
    Glacier Bank $620,000 $2,230,000 259.7% 0.8%
    CASTLE & COOKE MORTGAGE, LLC $2,470,000 $2,225,000 -9.9% 0.8%
    Mortgage Research Center, LLC $3,280,000 $2,170,000 -33.8% 0.8%
    SECURITYNATIONAL MORTGAGE COMPANY $3,995,000 $2,040,000 -48.9% 0.8%
    FIRST COLONY MORTGAGE CORPORATION $5,800,000 $1,935,000 -66.6% 0.7%
    FREEDOM MORTGAGE CORPORATION $7,370,000 $1,855,000 -74.8% 0.7%
    GRANITE FEDERAL CREDIT UNION $1,795,000 n/a 0.7%
    USAA Federal Savings Bank $570,000 $1,700,000 198.2% 0.6%
    CANOPY MORTGAGE, LLC $2,280,000 $1,615,000 -29.2% 0.6%
    CROSSCOUNTRY MORTGAGE, LLC $2,215,000 $1,580,000 -28.7% 0.6%
    AMERICAN FINANCING CORPORATION $2,710,000 $1,480,000 -45.4% 0.5%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $550,000 $1,335,000 142.7% 0.5%
    PENNYMAC LOAN SERVICES, LLC $3,930,000 $1,300,000 -66.9% 0.5%
    RANLIFE, INC. $3,270,000 $1,245,000 -61.9% 0.5%
    Mr. Cooper ( Nationstar Mortgage ) $2,225,000 $1,215,000 -45.4% 0.4%
    Plains Commerce Bank $7,010,000 $1,165,000 -83.4% 0.4%
    Bank of Utah $3,285,000 $1,130,000 -65.6% 0.4%
    NEWREZ LLC $1,565,000 $1,100,000 -29.7% 0.4%
    LAKEVIEW LOAN SERVICING, LLC $1,145,000 $1,095,000 -4.4% 0.4%
    AMERISAVE MORTGAGE CORPORATION $1,570,000 $1,075,000 -31.5% 0.4%
    LOANPAL, LLC $420,000 $1,070,000 154.8% 0.4%
    NBH Bank $540,000 $960,000 77.8% 0.4%
    Carrington Mortgage Services, LLC $1,195,000 $860,000 -28.0% 0.3%
    PHH Mortgage Corporation $740,000 n/a 0.3%
    AMERICAN PACIFIC MORTGAGE CORPORATION $885,000 $720,000 -18.6% 0.3%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $1,120,000 $685,000 -38.8% 0.3%
    VERITAS FUNDING, LLC $340,000 $640,000 88.2% 0.2%
    The Federal Savings Bank $985,000 $615,000 -37.6% 0.2%
    PNC Bank $610,000 n/a 0.2%
    Nations Lending Corporation $205,000 $570,000 178.0% 0.2%
    AMERICAN INTERNET MORTGAGE, INC. $265,000 $565,000 113.2% 0.2%
    CITYWIDE HOME LOANS, LLC $1,275,000 $530,000 -58.4% 0.2%
    GUARANTEED RATE AFFINITY, LLC $245,000 $530,000 116.3% 0.2%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,915,000 $515,000 -73.1% 0.2%
    U.S. Bank $375,000 $485,000 29.3% 0.2%
    PROVIDENT FUNDING ASSOCIATES, L.P. $610,000 $455,000 -25.4% 0.2%
    First Guaranty Mortgage Corporation $155,000 $450,000 190.3% 0.2%
    Century Mortgage Company DBA Century Lending Company $685,000 $430,000 -37.2% 0.2%
    Gateway First Bank $440,000 $430,000 -2.3% 0.2%
    Citadel Servicing Corporation $385,000 n/a 0.1%
    Flagstar Bank, FSB $285,000 $375,000 31.6% 0.1%
    Network Funding, L.P. $500,000 $345,000 -31.0% 0.1%
    AMERICAN ADVISORS GROUP $315,000 $340,000 7.9% 0.1%
    SECURITY SERVICE $105,000 $340,000 223.8% 0.1%
    EVERETT FINANCIAL, INC. $180,000 $330,000 83.3% 0.1%
    Utah Mortgage Loan Corporation $785,000 $320,000 -59.2% 0.1%
    NAVY FEDERAL CREDIT UNION $695,000 $315,000 -54.7% 0.1%
    PLAZA HOME MORTGAGE, INC. $545,000 $305,000 -44.0% 0.1%
    Chickasaw Community Bank $295,000 n/a 0.1%
    MEGASTAR FINANCIAL CORP. $295,000 n/a 0.1%
    VAN DYK MORTGAGE CORPORATION $295,000 n/a 0.1%
    CITY FIRST MORTGAGE SERVICES, L.L.C. $285,000 n/a 0.1%
    ANGEL OAK MORTGAGE SOLUTIONS LLC $285,000 $265,000 -7.0% 0.1%
    State Bank of Southern Utah $255,000 n/a 0.1%
    Sierra Pacific Mortgage Company, Inc. $245,000 n/a 0.1%
    FINANCE OF AMERICA MORTGAGE LLC $400,000 $240,000 -40.0% 0.1%
    Arvest Bank $235,000 n/a 0.1%
    CHERRY CREEK MORTGAGE, LLC $180,000 $235,000 30.6% 0.1%
    CREDIT UNION MORTGAGE ASSOCIATION, INC. $235,000 n/a 0.1%
    FINANCE OF AMERICA REVERSE LLC $135,000 $235,000 74.1% 0.1%
    Paramount Residential Mortgage Group, Inc. $235,000 n/a 0.1%
    SPRING EQ, LLC $235,000 n/a 0.1%
    Cache Valley Bank $345,000 $230,000 -33.3% 0.1%
    DIRECT MORTGAGE, CORP. $2,760,000 $225,000 -91.8% 0.1%
    OCMBC, INC. $215,000 n/a 0.1%
    UTAH FIRST $35,000 $215,000 514.3% 0.1%
    Amerifirst Financial, Inc. $205,000 n/a 0.1%
    Equity Prime Mortgage LLC $255,000 $205,000 -19.6% 0.1%
    Fifth Third Bank $205,000 n/a 0.1%
    GOLDENWEST $290,000 $205,000 -29.3% 0.1%
    PREMIER MORTGAGE RESOURCES, L.L.C. $205,000 n/a 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $625,000 $195,000 -68.8% 0.1%
    Bank of Colorado $185,000 n/a 0.1%
    BETTER MORTGAGE CORPORATION $1,645,000 $185,000 -88.8% 0.1%
    MORIA DEVELOPMENT, INC. $330,000 $185,000 -43.9% 0.1%
    Bank of the West $1,160,000 $175,000 -84.9% 0.1%
    BAY EQUITY LLC $405,000 $145,000 -64.2% 0.1%
    JPMorgan Chase Bank $820,000 $145,000 -82.3% 0.1%
    Barrington Bank & Trust Company, N.A. $85,000 $135,000 58.8% 0.0%
    M&T Bank $135,000 n/a 0.0%
    MUTUAL OF OMAHA MORTGAGE, INC. $135,000 n/a 0.0%
    VANDERBILT MORTGAGE AND FINANCE, INC. $125,000 n/a 0.0%
    GUARANTEED RATE, INC. $915,000 $115,000 -87.4% 0.0%
    AMERICAN FINANCIAL RESOURCES, INC. $230,000 $105,000 -54.3% 0.0%
    CHEVRON $305,000 $105,000 -65.6% 0.0%
    CYPRUS Federal Credit Union $1,070,000 $100,000 -90.7% 0.0%
    First National Bank of America $115,000 $95,000 -17.4% 0.0%
    MID AMERICA MORTGAGE, INC. $255,000 $75,000 -70.6% 0.0%
    Deseret First Credit Union $295,000 $35,000 -88.1% 0.0%
    University First Federal Credit Union $635,000 $35,000 -94.5% 0.0%

    Vernal's top lender by overall market share is MOUNTAIN AMERICA, with 23.8% market share. In second place, with 8.3%, is GUILD MORTGAGE COMPANY, having originated $22,420,000 in loans. In third place, with 7.2%, is INTERCAP LENDING INC., having originated $19,470,000 in loans. In fourth place, with 7.2%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $19,430,000 in loans. In fifth place, with 6.8%, is WALKER & DUNLOP, LLC, having originated $18,480,000 in loans.

    Vernal, UT Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 605 $164,155,000 $271,331
    Refi 234 $44,470,000 $190,043
    Cash Out Refi 200 $42,060,000 $210,300
    Home Improvement 158 $12,200,000 $77,215
    Other 111 $8,265,000 $74,459

    Vernal's most frequently cited loan purpose was Home Purchase, with 605 originations. The 2nd most popular reason was Refi, with 234 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    3-4% 307 $81,465,000 $265,358
    4-5% 303 $65,255,000 $215,363
    5-6% 287 $66,545,000 $231,864
    6-7% 176 $29,260,000 $166,250
    7-8% 96 $9,260,000 $96,458
    Over 8% 53 $3,215,000 $60,660
    2.5-3% 52 $11,090,000 $213,269
    <2.5% 34 $5,060,000 $148,824

    During 2022, Vernal's most frequently originated rate bucket was 3-4%, with 307 originations.

    Loan Sizing (Vernal, UT MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 482 $131,500,000 $272,822
    $100k-200k 392 $59,620,000 $152,092
    $100,000 or less 363 $16,795,000 $46,267
    $400k-600k 54 $24,770,000 $458,704
    $Over $1MM 9 $32,785,000 $3,642,778
    $600k-1000k 8 $5,680,000 $710,000

    Vernal's loan sizing saw the bucket of loans from $200k-400k with 482 originations, totaling $131,500,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 445 $117,825,000 $264,775
    60-80% 303 $94,995,000 $313,515
    Under 20% 252 $9,360,000 $37,143
    20-40% 156 $16,080,000 $103,077
    40-60% 135 $26,065,000 $193,074
    Over 100% 16 $6,620,000 $413,750

    Vernal's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 445 originations, totaling $117,825,000 in origination value.