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 6.08% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Utah's average FHA mortgage closing costs are $9,780.

The average rate for the prior week (2023-05-19) was 5.85% and one month ago for the week of 2023-04-21, the average rate was 5.99%.

The average rate one year ago was 5.01%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.47%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 800 4.71% $13,018
SECURITYNATIONAL MORTGAGE COMPANY 581 5.39% $16,489
INTERCAP LENDING INC. 419 4.92% $13,918
QUICKEN LOANS, LLC 365 4.37% $13,556
FIRST COLONY MORTGAGE CORPORATION 342 4.77% $14,562
CALIBER HOME LOANS, INC. 318 4.28% $12,448
GUILD MORTGAGE COMPANY 276 4.82% $13,866
CITYWIDE HOME LOANS, LLC 264 5.03% $14,422
ACADEMY MORTGAGE CORPORATION 262 5.16% $15,051
HOME POINT FINANCIAL CORPORATION 218 4.11% $12,318
CARDINAL FINANCIAL 204 4.62% $14,186
DHI MORTGAGE COMPANY, LTD. 200 4.49% $9,822
BROKER SOLUTIONS, INC. 166 5.16% $15,291
LOANDEPOT.COM, LLC 164 4.59% $14,138
VERITAS FUNDING, LLC 153 4.91% $15,131
RANLIFE, INC. 145 4.61% $14,532
SECURITY HOME MORTGAGE, LLC. 123 4.92% $14,410
FREEDOM MORTGAGE CORPORATION 120 4.51% $12,973
PENNYMAC LOAN SERVICES, LLC 112 4.14% $12,666
CROSSCOUNTRY MORTGAGE, LLC 94 5.14% $15,903
Network Funding, L.P. 93 5.15% $15,577
CASTLE & COOKE MORTGAGE, LLC 92 5.16% $15,170
AMERISAVE MORTGAGE CORPORATION 91 4.28% $13,270
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 85 5.07% $13,725
Mr. Cooper ( Nationstar Mortgage ) 81 4.11% $15,178
DIRECT MORTGAGE, CORP. 79 4.58% $14,639
MY MOVE MORTGAGE, LLC 79 4.93% $13,329
AMERICAN PACIFIC MORTGAGE CORPORATION 77 5.02% $13,631
PANORAMA MORTGAGE GROUP, LLC 67 5.77% $16,325
PACIFIC RESIDENTIAL MORTGAGE, LLC 65 5.67% $16,997
LAKEVIEW LOAN SERVICING, LLC 64 3.68% $8,967
Bank of Utah 59 5.45% $10,274
NEWREZ LLC 59 5.17% $11,949
CANOPY MORTGAGE, LLC 57 4.78% $15,667
Carrington Mortgage Services, LLC 53 4.94% $16,130
MOUNTAIN AMERICA 51 4.70% $9,423
SUN AMERICAN MORTGAGE COMPANY 50 4.74% $12,320
Century Mortgage Company DBA Century Lending Company 50 4.93% $12,608
EVERETT FINANCIAL, INC. 48 4.76% $8,927
Paramount Residential Mortgage Group, Inc. 46 5.04% $12,253
HOMEAMERICAN MORTGAGE CORPORATION 45 4.34% $8,747
PRIMARY RESIDENTIAL MORTGAGE, INC. 40 4.96% $16,107
Sierra Pacific Mortgage Company, Inc. 40 5.03% $12,559
LOANPAL, LLC 38 4.43% $16,168
AMERICAN FINANCING CORPORATION 38 4.38% $12,392
Plains Commerce Bank 37 5.48% $14,389
AMERICA FIRST 34 5.11% $11,419
PRIMELENDING, A PLAINSCAPITAL COMPANY 33 5.36% $13,747
BAY EQUITY LLC 30 4.87% $16,986
Utah Mortgage Loan Corporation 28 5.04% $13,708
VILLAGE CAPITAL MORTGAGE 27 3.80% $8,608
NBH Bank 26 4.34% $13,816
Gateway First Bank 26 4.67% $11,080
Northpointe Bank 26 4.76% $14,095
FINANCE OF AMERICA MORTGAGE LLC 25 4.17% $12,382
CHERRY CREEK MORTGAGE, LLC 23 4.96% $6,151
S1L, Inc. 22 4.98% $17,186
Equity Prime Mortgage LLC 22 5.61% $14,383
Flagstar Bank, FSB 21 4.69% $11,194
MOVEMENT MORTGAGE, LLC 21 5.13% $15,164
NEST HOME LENDING, LLC 20 4.74% $14,513
SUN WEST MORTGAGE COMPANY, INC. 20 4.31% $12,241
MOUNTAIN WEST FINANCIAL, INC. 18 4.05% $13,734
BELEM SERVICING LLC 18 4.61% $12,685
AXIA FINANCIAL, LLC 17 4.51% $12,812
UTAH COMMUNITY 17 5.06% $12,577
GUARANTEED RATE, INC. 16 4.56% $15,445
GUARANTEED RATE AFFINITY, LLC 16 4.82% $12,791
EAGLE HOME MORTGAGE, LLC 16 4.23% $11,814
CYPRUS Federal Credit Union 14 4.49% $10,757
VAN DYK MORTGAGE CORPORATION 14 4.11% $12,975
CMG MORTGAGE, INC. 14 4.70% $13,100
GOLDENWEST 14 5.14% $10,281
Nations Lending Corporation 13 5.01% $17,592
HOMESIDE FINANCIAL, LLC 13 4.18% $12,282
J. VIRGIL, INC. 13 4.10% $13,593
First Guaranty Mortgage Corporation 11 3.44% $9,855
Wells Fargo Bank 11 4.78% $10,566
AMERICAN FINANCIAL RESOURCES, INC. 9 6.21% $13,166
PLAZA HOME MORTGAGE, INC. 9 4.30% $13,948
EMBRACE HOME LOANS, INC. 9 4.33% $13,744
OCMBC, INC. 9 5.65% $17,078
MORIA DEVELOPMENT, INC. 7 5.46% $13,774
SWBC MORTGAGE CORPORATION 7 5.52% $10,696
The Federal Savings Bank 6 3.56% $16,565
MID AMERICA MORTGAGE, INC. 6 5.19% $4,215
SOVEREIGN LENDING GROUP INCORPORATED 6 3.73% $11,310
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 5.35% $14,556
JPMorgan Chase Bank 5 5.25% $10,698
CALCON MUTUAL MORTGAGE LLC 5 6.08% $14,725
CITY FIRST MORTGAGE SERVICES, L.L.C. 5 5.18% $12,630
CORNERSTONE HOME LENDING, INC. 5 5.25% $14,563
Texana Bank 5 4.20% $12,509
Wyndham Capital Mortgage, Inc. 5 4.25% $8,875
LIBERTY HOME MORTGAGE CORPORATION 4 5.91% $20,733
MUTUAL OF OMAHA MORTGAGE, INC. 4 5.84% $13,311
Peoples Bank 4 4.41% $15,298
Glacier Bank 4 5.47% $11,765
NATIONS DIRECT MORTGAGE, LLC 4 3.84% $19,658
LADERA LENDING, INC. 4 6.03% $20,669
Hometown Equity Mortgage, LLC 4 5.13% $17,517
Victorian Finance, LLC 3 6.08% $12,057
U.S. Bank 3 4.54% $14,827
Magnolia Bank 3 5.21% $18,445
Bank of England 3 4.67% $22,785
M&T Bank 3 5.25% $10,183
Strong Home Mortgage, LLC 3 3.58% $10,841
STEARNS LENDING, LLC 3 3.38% $9,751
DATA MORTGAGE, INC. 3 4.75% $12,362
ALAMEDA MORTGAGE CORPORATION 3 5.75% $14,765
LOANLEADERS OF AMERICA, INC. 3 4.33% $14,317
INSPIRE HOME LOANS INC. 3 5.21% $20,890
Mortgage Research Center, LLC 2 5.19% $9,640
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 4.19% $12,031
JMJ FINANCIAL GROUP 2 3.81% $12,769
JLB CORPORATION 2 4.44% $7,848
NFM, INC. 2 6.38% $12,701
North American Savings Bank, F.S.B. 2 4.88% $8,753
Hometown Lenders, Inc. 2 3.94% $16,950
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.13% $9,760
Citizens Bank 2 4.63% $8,413
CHURCHILL MORTGAGE CORPORATION 2 5.56% $12,897
Chickasaw Community Bank 2 4.88% $13,087
Barrington Bank & Trust Company, N.A. 2 3.88% $9,272
Zions Bancorporation, N.A. 2 5.06% $10,173
TJC Mortgage, Inc. 2 5.94% $13,884
UNITED SECURITY FINANCIAL CORP 2 4.56% $17,548
Watermark Capital, Inc. 2 4.31% $13,203
PENTAGON FEDERAL CREDIT UNION 1 3.88% $7,596
Amerifirst Financial, Inc. 1 5.63% $3,502
IDAHO CENTRAL 1 4.75% $16,144
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.12% $13,947
Cache Valley Bank 1 4.50% $1,118
Blue Ridge Bank 1 5.00% $9,326
BECKAM FUNDING CORP. 1 4.25% $9,252
GENEVA FINANCIAL, LLC 1 3.75% $14,186
HomeStreet Bank 1 6.13% $14,063
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 5.63% $9,342
NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.25% $4,121
Bank of America 1 2.25% $3,051
KeyBank 1 5.13% $12,853
The Central Trust Bank 1 4.75% $11,451
Austin Capital Bank SSB 1 5.25% $16,035
The Huntington National Bank 1 4.50% $12,069
Willamette Valley Bank 1 5.25% $11,148
UNION HOME MORTGAGE CORP. 1 6.25% $18,981
LAND HOME FINANCIAL SERVICES, INC. 1 5.50% $20,286
Arvest Bank 1 5.50% $6,642
HOMEXPRESS MORTGAGE CORP. 1 5.63% $23,829
ARC HOME LLC 1 5.63% $13,888
ANGEL OAK HOME LOANS LLC 1 5.25% $25,749
AmeriHome Mortgage Company, LLC 1 4.99% $9,395
PINNACLE LENDING GROUP, INC. 1 5.25% $12,076
First Federal Bank 1 3.25% $19,980
PLANET HOME LENDING, LLC 1 4.99% $11,788
Evolve Bank & Trust 1 5.63% $10,646
PNC Bank 1 4.50% $19,998
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.25% $11,490
Eagle Bank and Trust Company 1 4.38% $17,031
D. L. Evans Bank 1 3.75% $8,826

The top Utah FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 800 FHA loans originated. Their average total fees are $13,018, which is $3,470 lower than the next largest lender, SECURITYNATIONAL MORTGAGE COMPANY.

The lowest fee Utah FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($6,151), VILLAGE CAPITAL MORTGAGE ($8,608), HOMEAMERICAN MORTGAGE CORPORATION ($8,747), EVERETT FINANCIAL, INC. ($8,927) and LAKEVIEW LOAN SERVICING, LLC ($8,967).

The lowest rate Utah FHA lenders (with over 10 loans originated) are First Guaranty Mortgage Corporation (3.44%), LAKEVIEW LOAN SERVICING, LLC (3.68%), VILLAGE CAPITAL MORTGAGE (3.80%), MOUNTAIN WEST FINANCIAL, INC. (4.05%) and J. VIRGIL, INC. (4.10%).

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).