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 6.08% 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).