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%).