Utah FHA Loan Rates, Closing Costs & Stats

Utah

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.

Utah FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Utah averaged -0.28% for the week of 2024-06-21, compared to the national average (all FHA variants) of 0% for the same period.

Utah's average FHA mortgage closing costs are $10,429.

The average rate for the prior week (2024-06-14) was 6.32% and one month ago for the week of 2024-05-17, the average rate was 6.56%.

The average rate one year ago was 6.55%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.08%.

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

Utah 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 Utah level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 1,505 6.13% $15,290
FIRST COLONY MORTGAGE CORPORATION 518 6.27% $17,317
DHI MORTGAGE COMPANY, LTD. 509 6.01% $10,149
SECURITYNATIONAL MORTGAGE COMPANY 486 6.71% $18,288
QUICKEN LOANS, LLC 483 6.12% $15,190
INTERCAP LENDING INC. 414 6.43% $16,712
GUILD MORTGAGE COMPANY 275 6.43% $16,631
ACADEMY MORTGAGE CORPORATION 206 6.53% $17,808
Plains Commerce Bank 182 6.50% $17,380
SECURITY HOME MORTGAGE, LLC. 182 6.44% $14,961
CARDINAL FINANCIAL 162 6.44% $16,025
Century Mortgage Company DBA Century Lending Company 159 6.24% $15,042
RANLIFE, INC. 159 6.41% $17,012
NEWREZ LLC 151 6.15% $14,428
VERITAS FUNDING, LLC 142 6.61% $18,326
BROKER SOLUTIONS, INC. 141 6.52% $16,382
PENNYMAC LOAN SERVICES, LLC 135 6.06% $16,210
CROSSCOUNTRY MORTGAGE, LLC 123 6.56% $17,139
CITYWIDE HOME LOANS, LLC 122 6.19% $14,506
Paramount Residential Mortgage Group, Inc. 119 6.90% $16,550
MY MOVE MORTGAGE, LLC 112 6.25% $16,304
CASTLE & COOKE MORTGAGE, LLC 102 6.49% $17,539
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 99 6.61% $14,692
Bank of Utah 91 6.66% $10,338
AMERICAN PACIFIC MORTGAGE CORPORATION 90 6.76% $14,773
LOANDEPOT.COM, LLC 77 6.15% $16,861
PACIFIC RESIDENTIAL MORTGAGE, LLC 77 7.07% $18,337
DIRECT MORTGAGE, CORP. 76 6.30% $17,429
SUN AMERICAN MORTGAGE COMPANY 72 6.29% $14,267
AMERICAN FINANCIAL NETWORK, INC. 62 6.82% $16,513
HOMEAMERICAN MORTGAGE CORPORATION 57 5.41% $9,741
CANOPY MORTGAGE, LLC 49 6.23% $20,392
PRIMARY RESIDENTIAL MORTGAGE, INC. 48 6.64% $15,818
PRIMELENDING, A PLAINSCAPITAL COMPANY 48 6.68% $14,997
MOUNTAIN AMERICA 47 6.33% $12,029
FREEDOM MORTGAGE CORPORATION 47 6.80% $18,822
NEST HOME LENDING, LLC 46 5.35% $18,597
Network Funding, L.P. 44 6.44% $17,104
ARK-LA-TEX FINANCIAL SERVICES, LLC. 41 6.70% $15,146
EAGLE HOME MORTGAGE, LLC 39 5.18% $15,507
Mr. Cooper ( Nationstar Mortgage ) 36 5.93% $19,046
Sierra Pacific Mortgage Company, Inc. 35 5.84% $15,205
GOLDENWEST 33 6.24% $14,773
NATIONS RELIABLE LENDING, LLC 32 5.85% $16,476
AMERICA FIRST 29 6.65% $12,764
GUARANTEED RATE, INC. 28 6.12% $16,658
AXIA FINANCIAL, LLC 27 6.17% $18,411
Carrington Mortgage Services, LLC 26 6.11% $15,964
Northpointe Bank 26 6.27% $14,809
VILLAGE CAPITAL MORTGAGE 23 6.09% $12,797
INSPIRE HOME LOANS INC. 22 5.25% $13,399
The Loan Store, Inc. 22 6.78% $15,531
PLAZA HOME MORTGAGE, INC. 21 6.67% $13,055
Equity Prime Mortgage LLC 21 7.15% $19,595
Flagstar Bank, FSB 20 6.43% $13,345
LOANPAL, LLC 19 5.80% $17,323
GUARANTEED RATE AFFINITY, LLC 19 6.37% $18,002
SUN WEST MORTGAGE COMPANY, INC. 18 6.18% $14,327
ON Q FINANCIAL, INC. 18 6.95% $13,535
OCMBC, INC. 17 6.97% $17,440
BAY EQUITY LLC 17 6.16% $17,491
CLM MORTGAGE, INC 17 6.06% $14,482
BELEM SERVICING LLC 17 6.63% $13,853
SWBC MORTGAGE CORPORATION 16 6.55% $8,848
VAN DYK MORTGAGE CORPORATION 16 6.59% $13,042
AMERISAVE MORTGAGE CORPORATION 16 5.74% $20,256
AMERICAN FINANCING CORPORATION 15 6.06% $15,322
LAKEVIEW LOAN SERVICING, LLC 15 6.07% $15,164
S1L, Inc. 14 6.10% $18,987
American Mortgage & Equity Consultants, Inc. 14 6.46% $17,633
CYPRUS Federal Credit Union 13 6.49% $13,204
PANORAMA MORTGAGE GROUP, LLC 13 6.81% $16,343
HOMESIDE FINANCIAL, LLC 12 6.35% $16,756
The Federal Savings Bank 12 6.32% $17,986
Utah Mortgage Loan Corporation 10 6.41% $12,749
AMERICAN FINANCIAL RESOURCES, INC. 10 6.61% $17,920
J. VIRGIL, INC. 9 6.26% $12,776
UNION HOME MORTGAGE CORP. 9 6.46% $18,245
GENEVA FINANCIAL, LLC 8 6.83% $20,794
CITY FIRST MORTGAGE SERVICES, L.L.C. 8 6.25% $15,489
PLANET HOME LENDING, LLC 8 5.39% $12,332
LADERA LENDING, INC. 7 6.55% $16,724
KeyBank 6 5.88% $18,215
Hometown Equity Mortgage, LLC 6 6.92% $17,066
Cache Valley Bank 6 6.19% $6,629
Barrington Bank & Trust Company, N.A. 6 6.42% $10,618
Cornerstone First Mortgage, Inc 6 6.31% $18,684
CORNERSTONE HOME LENDING, INC. 6 6.17% $18,206
CHURCHILL MORTGAGE CORPORATION 6 6.25% $14,512
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.15% $16,325
SUMMIT FUNDING, INC. 6 6.52% $21,249
Bank of England 6 6.42% $14,243
SOVEREIGN LENDING GROUP INCORPORATED 5 5.80% $21,768
UTAH COMMUNITY 5 6.38% $11,473
Mortgage Research Center, LLC 5 6.90% $7,769
LAND HOME FINANCIAL SERVICES, INC. 5 7.05% $22,112
FLAT BRANCH MORTGAGE, INC. 5 6.70% $14,606
CHERRY CREEK MORTGAGE, LLC 5 6.40% $4,873
MORIA DEVELOPMENT, INC. 5 6.73% $13,602
AmeriHome Mortgage Company, LLC 4 6.06% $16,883
EVERETT FINANCIAL, INC. 4 5.97% $20,224
Glacier Bank 4 6.34% $13,777
CMG MORTGAGE, INC. 4 6.06% $15,223
NATIONS DIRECT MORTGAGE, LLC 4 6.91% $14,332
Nations Lending Corporation 4 6.00% $15,290
Zions Bank 4 6.81% $8,433
CALCON MUTUAL MORTGAGE LLC 3 6.08% $27,145
MASON MCDUFFIE MORTGAGE CORPORATION 3 7.13% $21,726
JPMorgan Chase Bank 3 6.08% $9,529
MORTGAGEONE, INC. 3 6.88% $16,357
U.S. Bank 3 7.38% $8,473
NBH Bank 3 7.38% $9,657
Wells Fargo Bank 3 5.50% $8,342
NBKC BANK 3 6.25% $11,074
MANN FINANCIAL INC. 2 6.50% $13,048
ZILLOW HOME LOANS, LLC 2 6.50% $10,435
Willamette Valley Bank 2 5.50% $17,813
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.81% $19,356
EMBRACE HOME LOANS, INC. 2 5.87% $13,563
PHH Mortgage Corporation 2 5.75% $18,865
MID AMERICA MORTGAGE, INC. 2 6.81% $14,439
MICHIGAN MUTUAL, INC. 2 6.19% $16,529
D. L. Evans Bank 2 5.44% $17,440
Watermark Capital, Inc. 2 6.19% $11,655
TOP FLITE FINANCIAL, INC. 2 7.06% $16,928
JMJ FINANCIAL GROUP 2 6.69% $9,879
Waterstone Mortgage Corporation 2 5.38% $22,041
GRANITE FEDERAL CREDIT UNION 1 7.88% $3,887
GARDNER FINANCIAL SERVICES, LTD. 1 7.13% $11,849
TJC Mortgage, Inc. 1 7.25% $14,463
TOWNE MORTGAGE COMPANY 1 6.25% $14,697
First Savings Bank 1 5.25% $31,438
FIRST COMMUNITY MORTGAGE, INC. 1 6.00% $24,136
CUSTOMER SERVICE MORTGAGE CORPORATION 1 6.00% $11,552
Encompass Lending Group, LP 1 7.13% $16,667
ALAMEDA MORTGAGE CORPORATION 1 6.75% $14,137
GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $13,562
ONE NEVADA CREDIT UNION 1 5.63% $7,740
M&T Bank 1 6.75% $10,277
MOVEMENT MORTGAGE, LLC 1 6.75% $13,451
Citizens Bank 1 6.75% $12,926
BAY-VALLEY MORTGAGE GROUP 1 7.63% $14,726
PENTAGON FEDERAL CREDIT UNION 1 5.75% $7,537
PINNACLE LENDING GROUP, INC. 1 5.63% $11,499
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.49% $13,248
Magnolia Bank 1 6.00% $22,766
Ameris Bank 1 7.13% $13,888
LENOX FINANCIAL MORTGAGE CORPORATION 1 5.63% $16,171
Regions Bank 1 5.50% $24,199
KINECTA 1 6.00% $9,583
Eagle Bank and Trust Company 1 5.50% $17,902
SIRVA MORTGAGE, INC. 1 5.25% $17,123
JMAC LENDING, INC. 1 7.63% $12,166
Ixonia Bank 1 5.63% $16,572
Sunflower Bank 1 6.49% $12,289
CONTOUR MORTGAGE CORPORATION 1 7.00% $21,412
NFM, INC. 1 6.13% $16,770

The top Utah FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,505 FHA loans originated. Their average total fees are $15,290, which is $2,026 lower than the next largest lender, FIRST COLONY MORTGAGE CORPORATION.

The lowest fee Utah FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($8,848), HOMEAMERICAN MORTGAGE CORPORATION ($9,741), DHI MORTGAGE COMPANY, LTD. ($10,149), Bank of Utah ($10,338) and MOUNTAIN AMERICA ($12,029).

The lowest rate Utah FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.18%), INSPIRE HOME LOANS INC. (5.25%), NEST HOME LENDING, LLC (5.35%), HOMEAMERICAN MORTGAGE CORPORATION (5.41%) and AMERISAVE MORTGAGE CORPORATION (5.74%).

Utah FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NON-METRO BEAVER 2022 $420,680 $538,650 $651,050 $809,150
OGDEN-CLEARFIELD, UT BOX ELDER 2020 $646,300 $827,400 $1,000,100 $1,242,900
LOGAN, UT-ID CACHE 2022 $420,680 $538,650 $651,050 $809,150
PRICE, UT CARBON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO DAGGETT 2022 $420,680 $538,650 $651,050 $809,150
OGDEN-CLEARFIELD, UT DAVIS 2020 $646,300 $827,400 $1,000,100 $1,242,900
NON-METRO DUCHESNE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO EMERY 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GARFIELD 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GRAND 2022 $420,680 $538,650 $651,050 $809,150
CEDAR CITY, UT IRON 2022 $420,680 $538,650 $651,050 $809,150
PROVO-OREM, UT JUAB 2022 $508,300 $650,700 $786,550 $977,500
NON-METRO KANE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MILLARD 2022 $420,680 $538,650 $651,050 $809,150
OGDEN-CLEARFIELD, UT MORGAN 2020 $646,300 $827,400 $1,000,100 $1,242,900
NON-METRO PIUTE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RICH 2022 $447,350 $572,700 $692,250 $860,300
SALT LAKE CITY, UT SALT LAKE 2022 $523,250 $669,850 $809,700 $1,006,250
NON-METRO SAN JUAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SANPETE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SEVIER 2022 $420,680 $538,650 $651,050 $809,150
HEBER, UT SUMMIT 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
SALT LAKE CITY, UT TOOELE 2022 $523,250 $669,850 $809,700 $1,006,250
VERNAL, UT UINTAH 2022 $420,680 $538,650 $651,050 $809,150
PROVO-OREM, UT UTAH 2022 $508,300 $650,700 $786,550 $977,500
HEBER, UT WASATCH 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
ST. GEORGE, UT WASHINGTON 2022 $481,850 $616,850 $745,650 $926,650
NON-METRO WAYNE 2022 $420,680 $538,650 $651,050 $809,150
OGDEN-CLEARFIELD, UT WEBER 2020 $646,300 $827,400 $1,000,100 $1,242,900
NON-METRO BEAVER 2023 $472,030 $604,400 $730,525 $907,900
OGDEN-CLEARFIELD, UT BOX ELDER 2023 $744,050 $952,500 $1,151,400 $1,430,900
LOGAN, UT-ID CACHE 2023 $492,200 $630,100 $761,650 $946,550
PRICE, UT CARBON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO DAGGETT 2023 $472,030 $604,400 $730,525 $907,900
OGDEN-CLEARFIELD, UT DAVIS 2023 $744,050 $952,500 $1,151,400 $1,430,900
NON-METRO DUCHESNE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO EMERY 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GARFIELD 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GRAND 2023 $543,950 $696,350 $841,750 $1,046,050
CEDAR CITY, UT IRON 2023 $472,030 $604,400 $730,525 $907,900
PROVO-OREM, UT JUAB 2023 $601,450 $769,950 $930,700 $1,156,650
NON-METRO KANE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MILLARD 2023 $472,030 $604,400 $730,525 $907,900
OGDEN-CLEARFIELD, UT MORGAN 2023 $744,050 $952,500 $1,151,400 $1,430,900
NON-METRO PIUTE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RICH 2023 $531,300 $680,150 $822,150 $1,021,750
SALT LAKE CITY, UT SALT LAKE 2023 $619,850 $793,500 $959,200 $1,192,050
NON-METRO SAN JUAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SANPETE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SEVIER 2023 $472,030 $604,400 $730,525 $907,900
HEBER, UT SUMMIT 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
SALT LAKE CITY, UT TOOELE 2023 $619,850 $793,500 $959,200 $1,192,050
VERNAL, UT UINTAH 2023 $472,030 $604,400 $730,525 $907,900
PROVO-OREM, UT UTAH 2023 $601,450 $769,950 $930,700 $1,156,650
HEBER, UT WASATCH 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
ST. GEORGE, UT WASHINGTON 2023 $593,400 $759,650 $918,250 $1,141,150
NON-METRO WAYNE 2023 $472,030 $604,400 $730,525 $907,900
OGDEN-CLEARFIELD, UT WEBER 2023 $744,050 $952,500 $1,151,400 $1,430,900

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).