Utah USDA Loan Rates, Closing Costs & Stats
Utah
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%).