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 6.43% for the week of 2023-12-08, compared to the national average (all USDA variants) of 6.821% for the same period.

Utah's average USDA mortgage closing costs are $6,452.

The average rate for the prior week (2023-12-01) was 6.38% and one month ago for the week of 2023-11-03, the average rate was 6.92%.

The average rate one year ago was 5.92%.

For refis of the same type during the week of 2023-12-08, the average rate was 5.42%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 49 4.81% $9,185
FIRST COLONY MORTGAGE CORPORATION 34 4.18% $8,076
HOME POINT FINANCIAL CORPORATION 31 3.76% $9,116
INTERCAP LENDING INC. 26 4.46% $8,257
CALIBER HOME LOANS, INC. 23 4.18% $6,495
DHI MORTGAGE COMPANY, LTD. 20 3.87% $6,158
GUILD MORTGAGE COMPANY 15 4.68% $11,462
SECURITY HOME MORTGAGE, LLC. 15 4.36% $8,172
SECURITYNATIONAL MORTGAGE COMPANY 13 4.56% $9,007
CARDINAL FINANCIAL 12 4.34% $10,627
Sierra Pacific Mortgage Company, Inc. 8 5.08% $9,090
BROKER SOLUTIONS, INC. 7 4.53% $10,580
PENNYMAC LOAN SERVICES, LLC 6 3.00% $8,620
CITYWIDE HOME LOANS, LLC 5 4.20% $8,540
DIRECT MORTGAGE, CORP. 5 4.05% $11,035
ACADEMY MORTGAGE CORPORATION 5 5.58% $7,921
VERITAS FUNDING, LLC 5 3.68% $8,826
CANOPY MORTGAGE, LLC 5 3.80% $8,323
AMERICAN PACIFIC MORTGAGE CORPORATION 5 4.43% $8,257
Century Mortgage Company DBA Century Lending Company 4 4.16% $9,193
CRESCENT MORTGAGE COMPANY 4 4.50% $5,435
Bank of Utah 4 4.97% $5,589
RANLIFE, INC. 4 3.94% $7,006
Cache Valley Bank 3 4.58% $4,413
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 5.00% $10,585
NEWREZ LLC 3 5.88% $7,418
AXIA FINANCIAL, LLC 3 4.54% $9,241
SUN AMERICAN MORTGAGE COMPANY 3 3.42% $6,539
GUARANTEED RATE, INC. 2 4.06% $10,137
Northpointe Bank 2 4.19% $7,773
MOUNTAIN WEST FINANCIAL, INC. 2 4.31% $9,182
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.19% $10,876
MOUNTAIN AMERICA 2 4.00% $6,814
VAN DYK MORTGAGE CORPORATION 2 4.56% $4,501
CORNERSTONE HOME LENDING, INC. 2 4.00% $11,560
Plains Commerce Bank 2 4.75% $8,177
Flagstar Bank, FSB 2 3.25% $7,483
Zions Bank 2 3.38% $5,691
Paramount Residential Mortgage Group, Inc. 2 4.50% $11,793
GUARANTEED RATE AFFINITY, LLC 2 3.94% $5,283
STEARNS LENDING, LLC 1 2.88% $8,671
AMCAP MORTGAGE, LTD. 1 6.63% $6,833
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.75% $11,237
BAY EQUITY LLC 1 3.25% $11,024
CHERRY CREEK MORTGAGE, LLC 1 3.00% $9,358
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.38% $11,287
CMG MORTGAGE, INC. 1 2.99% $6,210
EVERETT FINANCIAL, INC. 1 4.13% $5,724
FINANCE OF AMERICA MORTGAGE LLC 1 4.88% $6,813
Gateway First Bank 1 3.88% $8,735
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.63% $15,217
HOMESIDE FINANCIAL, LLC 1 4.25% $10,729
Hometown Lenders, Inc. 1 3.25% $15,279
MICHIGAN MUTUAL, INC. 1 3.13% $6,865
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $6,546
MOVEMENT MORTGAGE, LLC 1 4.00% $10,299
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $8,534
MY MOVE MORTGAGE, LLC 1 4.13% $4,828
NBH Bank 1 2.50% $4,379
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 5.50% $4,026
PLANET HOME LENDING, LLC 1 3.38% $10,005
PLAZA HOME MORTGAGE, INC. 1 5.75% $10,613
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.75% $10,514
UNION HOME MORTGAGE CORP. 1 4.75% $10,648
UTAH COMMUNITY 1 3.00% $7,734
Utah Mortgage Loan Corporation 1 3.00% $13,941

The top Utah USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 49 USDA loans originated. Their average total fees are $9,185, which is $1,108 higher than the next largest lender, FIRST COLONY MORTGAGE CORPORATION.

The lowest fee Utah USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,158), CALIBER HOME LOANS, INC. ($6,495), FIRST COLONY MORTGAGE CORPORATION ($8,076), SECURITY HOME MORTGAGE, LLC. ($8,172) and INTERCAP LENDING INC. ($8,257).

The lowest rate Utah USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (3.76%), DHI MORTGAGE COMPANY, LTD. (3.87%), FIRST COLONY MORTGAGE CORPORATION (4.18%), CALIBER HOME LOANS, INC. (4.18%) and CARDINAL FINANCIAL (4.34%).