Utah FHA Loan Rates, Closing Costs & Stats

Utah

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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.

    Utah FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Utah averaged 6.2% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.27% and one month ago for the week of 2024-11-08, the average rate was 6.03%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.46%.

    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).