Utah USDA Loan Rates, Closing Costs & Stats

Utah

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    • 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 6.57% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Utah's average USDA mortgage closing costs are $6,555.

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.6%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.13%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 48 5.81% $10,405
    FIRST COLONY MORTGAGE CORPORATION 17 5.90% $5,053
    NEWREZ LLC 15 5.93% $9,392
    AMERICAN FINANCIAL NETWORK, INC. 14 5.68% $11,924
    DHI MORTGAGE COMPANY, LTD. 12 5.56% $6,379
    Century Mortgage Company DBA Century Lending Company 10 5.70% $13,106
    GUILD MORTGAGE COMPANY 10 5.81% $14,593
    INTERCAP LENDING INC. 7 5.73% $15,177
    Sierra Pacific Mortgage Company, Inc. 6 5.90% $9,589
    CITY FIRST MORTGAGE SERVICES, L.L.C. 4 5.91% $14,723
    SECURITYNATIONAL MORTGAGE COMPANY 3 6.29% $8,931
    AXIA FINANCIAL, LLC 3 5.46% $16,828
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.38% $5,050
    SECURITY HOME MORTGAGE, LLC. 3 6.04% $9,502
    UTAH COMMUNITY 3 5.88% $8,668
    MOUNTAIN AMERICA 3 6.33% $8,459
    CROSSCOUNTRY MORTGAGE, LLC 2 6.50% $14,081
    CANOPY MORTGAGE, LLC 2 5.62% $14,882
    Bank of Utah 2 6.00% $4,366
    UNION HOME MORTGAGE CORP. 1 5.88% $18,950
    Utah Mortgage Loan Corporation 1 6.00% $3,938
    VAN DYK MORTGAGE CORPORATION 1 4.50% $3,856
    ACADEMY MORTGAGE CORPORATION 1 5.50% $19,232
    VILLAGE CAPITAL MORTGAGE 1 6.25% $5,834
    American Mortgage & Equity Consultants, Inc. 1 6.25% $13,434
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $6,090
    BELEM SERVICING LLC 1 6.88% $6,522
    CITYWIDE HOME LOANS, LLC 1 5.63% $10,783
    Cornerstone First Mortgage, Inc 1 6.38% $7,266
    CRESCENT MORTGAGE COMPANY 1 7.00% $6,699
    DIRECT MORTGAGE, CORP. 1 5.99% $8,277
    Flagstar Bank, FSB 1 5.50% $12,340
    GOLDENWEST 1 4.99% $11,390
    GUARANTEED RATE, INC. 1 6.63% $13,224
    HOMESIDE FINANCIAL, LLC 1 5.99% $10,960
    LOANDEPOT.COM, LLC 1 5.88% $14,800
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.88% $13,471
    MOVEMENT MORTGAGE, LLC 1 6.75% $5,126
    Plains Commerce Bank 1 6.63% $10,412
    PLANET HOME LENDING, LLC 1 5.38% $7,964
    PLAZA HOME MORTGAGE, INC. 1 6.13% $6,099
    State Bank of Southern Utah 1 6.75% $2,146

    The top Utah USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 48 USDA loans originated. Their average total fees are $10,405, which is $5,351 higher than the next largest lender, FIRST COLONY MORTGAGE CORPORATION.

    The lowest fee Utah USDA lenders (with over 10 loans originated) are FIRST COLONY MORTGAGE CORPORATION ($5,053), DHI MORTGAGE COMPANY, LTD. ($6,379), NEWREZ LLC ($9,392), UNITED WHOLESALE MORTGAGE, LLC ($10,405) and AMERICAN FINANCIAL NETWORK, INC. ($11,924).

    The lowest rate Utah USDA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.56%), AMERICAN FINANCIAL NETWORK, INC. (5.68%), Century Mortgage Company DBA Century Lending Company (5.70%), UNITED WHOLESALE MORTGAGE, LLC (5.81%) and GUILD MORTGAGE COMPANY (5.81%).