Utah USDA Loan Rates, Closing Costs & Stats

Utah

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets

    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Utah USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Utah averaged 6.03% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

    Utah's average USDA mortgage closing costs are $6,328.

    The average rate for the prior week (2023-01-20) was 6.02% and one month ago for the week of 2022-12-23, the average rate was 6.15%.

    The average rate one year ago was 3.5%.

    For refis of the same type during the week of 2023-01-27, the average rate was 6.17%.

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

    Utah USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Utah level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    INTERCAP LENDING INC. 112 2.97% $7,106
    GUILD MORTGAGE COMPANY 98 2.73% $7,485
    FIRST COLONY MORTGAGE CORPORATION 95 2.53% $5,325
    SECURITYNATIONAL MORTGAGE COMPANY 77 2.72% $7,729
    CALIBER HOME LOANS, INC. 71 2.73% $6,238
    ACADEMY MORTGAGE CORPORATION 54 2.97% $7,803
    UNITED WHOLESALE MORTGAGE, LLC 46 2.76% $7,286
    HOME POINT FINANCIAL CORPORATION 44 2.59% $6,925
    AMERICAN FINANCIAL NETWORK, INC. 44 2.56% $7,702
    STEARNS LENDING, LLC 41 2.73% $7,067
    DHI MORTGAGE COMPANY, LTD. 34 2.60% $5,522
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 33 2.92% $7,657
    SECURITY HOME MORTGAGE, LLC. 32 2.53% $7,908
    BROKER SOLUTIONS, INC. 28 2.85% $8,195
    CANOPY MORTGAGE, LLC 25 2.37% $6,323
    SUN AMERICAN MORTGAGE COMPANY 24 2.66% $6,270
    MOUNTAIN AMERICA 20 2.42% $7,103
    AMERICAN PACIFIC MORTGAGE CORPORATION 19 2.82% $7,000
    RANLIFE, INC. 19 2.88% $7,698
    DIRECT MORTGAGE, CORP. 19 2.56% $11,234
    PRIMARY RESIDENTIAL MORTGAGE, INC. 18 3.00% $7,747
    CITYWIDE HOME LOANS, LLC 18 2.90% $8,031
    Bank of Utah 18 2.75% $4,509
    VERITAS FUNDING, LLC 13 2.62% $6,703
    MY MOVE MORTGAGE, LLC 13 2.61% $6,895
    Cache Valley Bank 11 2.50% $3,602
    Paramount Residential Mortgage Group, Inc. 10 3.20% $6,027
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 2.75% $7,866
    Flagstar Bank, FSB 9 2.39% $6,657
    NBH Bank 8 2.47% $7,154
    GUARANTEED RATE, INC. 8 2.66% $9,315
    CROSSCOUNTRY MORTGAGE, LLC 8 3.09% $6,980
    Century Mortgage Company DBA Century Lending Company 8 2.53% $6,791
    AXIA FINANCIAL, LLC 8 2.66% $7,163
    FINANCE OF AMERICA MORTGAGE LLC 7 2.88% $7,722
    MOUNTAIN WEST FINANCIAL, INC. 7 2.91% $5,178
    Plains Commerce Bank 7 2.89% $7,636
    Northpointe Bank 6 2.58% $8,226
    WESTERN EXPRESS LENDING 6 2.67% $4,627
    CORNERSTONE HOME LENDING, INC. 6 2.77% $8,280
    UTAH COMMUNITY 6 2.65% $5,813
    AMERICA FIRST 6 2.46% $6,625
    GOLDENWEST 6 2.35% $7,292
    BAY EQUITY LLC 5 2.85% $10,533
    PENNYMAC LOAN SERVICES, LLC 5 2.83% $5,108
    Zions Bancorporation, N.A. 4 2.44% $3,885
    HOMESIDE FINANCIAL, LLC 4 2.88% $7,211
    MOVEMENT MORTGAGE, LLC 3 3.00% $9,610
    CHERRY CREEK MORTGAGE, LLC 3 3.17% $5,314
    NEWREZ LLC 3 2.42% $7,151
    Glacier Bank 3 2.63% $7,262
    Wells Fargo Bank 3 2.54% $4,225
    HOMEAMERICAN MORTGAGE CORPORATION 3 2.29% $3,563
    CRESCENT MORTGAGE COMPANY 3 3.00% $6,742
    Carrington Mortgage Services, LLC 2 3.63% $5,338
    LOANDEPOT.COM, LLC 2 3.19% $8,019
    Bank of England 2 3.00% $7,439
    EVERLEND MORTGAGE COMPANY 2 2.94% $8,937
    VAN DYK MORTGAGE CORPORATION 2 2.75% $7,338
    CYPRUS Federal Credit Union 2 2.56% $6,585
    PLAZA HOME MORTGAGE, INC. 2 2.56% $5,109
    MICHIGAN MUTUAL, INC. 2 2.44% $7,627
    S1L, Inc. 2 2.69% $9,217
    CHURCHILL MORTGAGE CORPORATION 2 2.94% $6,642
    CELEBRITY HOME LOANS, LLC 2 3.25% $6,804
    First Guaranty Mortgage Corporation 2 2.50% $9,297
    AMCAP MORTGAGE, LTD. 1 3.13% $6,987
    Hometown Lenders, Inc. 1 2.75% $5,478
    LEADERONE FINANCIAL CORPORATION 1 2.38% $5,947
    Magnolia Bank 1 2.88% $5,658
    MORIA DEVELOPMENT, INC. 1 2.75% $4,985
    GENEVA FINANCIAL, LLC 1 2.63% $5,694
    Gateway First Bank 1 3.13% $1,359
    Network Funding, L.P. 1 2.63% $6,158
    PANORAMA MORTGAGE GROUP, LLC 1 2.88% $7,027
    EAGLE HOME MORTGAGE, LLC 1 2.50% $6,692
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 3.25% $7,452
    Citizens Bank 1 3.50% $5,887
    SUMMIT FUNDING, INC. 1 2.88% $8,988
    SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $5,351
    CALCON MUTUAL MORTGAGE LLC 1 2.75% $16,042
    Utah Mortgage Loan Corporation 1 2.50% $7,901
    Austin Capital Bank SSB 1 2.88% $8,014
    AMERICAN FINANCING CORPORATION 1 2.50% $6,399
    Hometown Equity Mortgage, LLC 1 2.25% $6,171

    The top Utah USDA lender as defined by loan originations is INTERCAP LENDING INC., with 112 USDA loans originated. Their average total fees are $7,106, which is $379 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Utah USDA lenders (with over 10 loans originated) are Cache Valley Bank ($3,602), Bank of Utah ($4,509), FIRST COLONY MORTGAGE CORPORATION ($5,325), DHI MORTGAGE COMPANY, LTD. ($5,522) and Paramount Residential Mortgage Group, Inc. ($6,027).

    The lowest rate Utah USDA lenders (with over 10 loans originated) are CANOPY MORTGAGE, LLC (2.37%), MOUNTAIN AMERICA (2.42%), Cache Valley Bank (2.50%), FIRST COLONY MORTGAGE CORPORATION (2.53%) and SECURITY HOME MORTGAGE, LLC. (2.53%).