Utah VA Loan Rates, Closing Costs & Stats

Utah

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Utah VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Utah averaged 0.03% for the week of 2024-06-21, compared to the national average (all VA variants) of 0% for the same period.

Utah's average VA mortgage closing costs are $7,320.

The average rate for the prior week (2024-06-14) was 6.24% and one month ago for the week of 2024-05-17, the average rate was 6.33%.

The average rate one year ago was 6.44%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.1%.

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

Utah VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 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 557 6.12% $9,290
Mortgage Research Center, LLC 214 6.47% $7,858
INTERCAP LENDING INC. 189 6.32% $9,870
QUICKEN LOANS, LLC 130 6.08% $14,618
FIRST COLONY MORTGAGE CORPORATION 82 6.05% $9,000
ACADEMY MORTGAGE CORPORATION 70 6.43% $11,799
PENNYMAC LOAN SERVICES, LLC 67 5.91% $14,169
GUILD MORTGAGE COMPANY 61 6.18% $15,029
DHI MORTGAGE COMPANY, LTD. 61 5.87% $9,464
FREEDOM MORTGAGE CORPORATION 59 6.48% $19,663
The Federal Savings Bank 55 6.39% $23,022
CITYWIDE HOME LOANS, LLC 55 5.91% $12,579
NAVY FEDERAL CREDIT UNION 46 5.77% $6,735
AMERICAN PACIFIC MORTGAGE CORPORATION 45 6.54% $10,641
CARDINAL FINANCIAL 42 6.32% $14,605
NEWREZ LLC 41 6.12% $12,376
USAA Federal Savings Bank 41 6.19% $9,331
VILLAGE CAPITAL MORTGAGE 39 5.96% $14,728
SECURITYNATIONAL MORTGAGE COMPANY 34 6.40% $17,911
Plains Commerce Bank 33 5.99% $13,849
BROKER SOLUTIONS, INC. 31 6.26% $13,550
LOANDEPOT.COM, LLC 29 5.93% $16,622
CROSSCOUNTRY MORTGAGE, LLC 28 6.63% $10,114
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 6.62% $8,929
MY MOVE MORTGAGE, LLC 26 6.26% $15,422
SECURITY HOME MORTGAGE, LLC. 26 6.12% $8,731
Century Mortgage Company DBA Century Lending Company 25 6.21% $9,260
GUARANTEED RATE, INC. 25 5.77% $8,655
RANLIFE, INC. 23 6.14% $14,409
INSPIRE HOME LOANS INC. 21 5.46% $10,347
Bank of Utah 19 6.18% $8,606
AMERICAN FINANCIAL NETWORK, INC. 18 6.03% $7,599
PRIMARY RESIDENTIAL MORTGAGE, INC. 17 6.52% $15,115
Barrington Bank & Trust Company, N.A. 17 6.35% $18,857
SUN AMERICAN MORTGAGE COMPANY 17 6.09% $13,051
NBKC BANK 17 5.66% $8,994
VERITAS FUNDING, LLC 15 6.08% $13,318
Mr. Cooper ( Nationstar Mortgage ) 14 5.88% $23,807
Paramount Residential Mortgage Group, Inc. 14 6.33% $11,695
CASTLE & COOKE MORTGAGE, LLC 14 6.01% $12,684
HOMEAMERICAN MORTGAGE CORPORATION 14 5.32% $4,815
Sierra Pacific Mortgage Company, Inc. 12 5.53% $10,955
MOUNTAIN AMERICA 11 6.43% $8,371
Wells Fargo Bank 11 5.41% $6,000
DIRECT MORTGAGE, CORP. 11 6.20% $17,730
PRIMELENDING, A PLAINSCAPITAL COMPANY 11 6.64% $6,661
PLAZA HOME MORTGAGE, INC. 11 6.77% $10,063
NEST HOME LENDING, LLC 11 5.37% $7,669
AMERICA FIRST 10 6.30% $7,242
JPMorgan Chase Bank 10 6.21% $4,682
EAGLE HOME MORTGAGE, LLC 10 5.08% $7,614
LAKEVIEW LOAN SERVICING, LLC 10 6.14% $10,941
GOLDENWEST 10 6.31% $9,307
ON Q FINANCIAL, INC. 9 6.69% $11,982
Northpointe Bank 9 6.39% $6,100
Magnolia Bank 9 6.35% $23,093
American Mortgage & Equity Consultants, Inc. 8 6.70% $12,263
CMG MORTGAGE, INC. 8 5.84% $12,891
SUN WEST MORTGAGE COMPANY, INC. 8 6.19% $10,022
MUTUAL OF OMAHA MORTGAGE, INC. 8 6.30% $15,185
ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 6.75% $13,528
MORTGAGEONE, INC. 7 7.00% $8,373
PENTAGON FEDERAL CREDIT UNION 7 5.21% $8,003
CANOPY MORTGAGE, LLC 7 6.16% $12,755
U.S. Bank 6 6.25% $11,167
AMERISAVE MORTGAGE CORPORATION 6 5.40% $19,334
AXIA FINANCIAL, LLC 6 6.04% $14,133
CORNERSTONE HOME LENDING, INC. 6 6.21% $7,946
GUARANTEED RATE AFFINITY, LLC 6 6.83% $6,740
Equity Prime Mortgage LLC 5 6.88% $18,591
Flagstar Bank, FSB 5 6.60% $10,081
BELEM SERVICING LLC 5 6.90% $3,328
Utah Mortgage Loan Corporation 4 5.88% $7,976
CLM MORTGAGE, INC 4 6.28% $11,959
PLANET HOME LENDING, LLC 4 6.47% $7,000
VAN DYK MORTGAGE CORPORATION 4 6.40% $5,984
BNC National Bank 3 5.42% $12,049
Bank of England 3 6.46% $11,779
BAY EQUITY LLC 3 6.42% $11,335
Cache Valley Bank 3 5.54% $15,396
CHERRY CREEK MORTGAGE, LLC 3 6.04% $3,228
CONTOUR MORTGAGE CORPORATION 3 6.88% $13,660
EVERETT FINANCIAL, INC. 3 6.00% $14,031
Glacier Bank 3 6.00% $21,983
J. VIRGIL, INC. 3 5.83% $9,771
MASON MCDUFFIE MORTGAGE CORPORATION 3 6.92% $14,853
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.38% $7,113
MOVEMENT MORTGAGE, LLC 3 6.42% $13,857
NATIONS RELIABLE LENDING, LLC 3 5.87% $9,922
PREMIA MORTGAGE, LLC 3 5.75% $6,563
UNION HOME MORTGAGE CORP. 3 6.00% $11,723
Zions Bank 3 5.88% $5,023
TOP FLITE FINANCIAL, INC. 2 7.38% $19,894
SIRVA MORTGAGE, INC. 2 5.81% $10,267
Presidential Bank, FSB 2 6.31% $9,678
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 7.00% $18,272
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 5.63% $18,333
S1L, Inc. 2 6.31% $16,453
SWBC MORTGAGE CORPORATION 2 5.50% $15,369
Ameris Bank 2 5.25% $3,619
CYPRUS Federal Credit Union 2 6.75% $6,655
GENEVA FINANCIAL, LLC 2 7.31% $3,274
CHURCHILL MORTGAGE CORPORATION 2 6.88% $10,414
Servion, Inc. 2 6.75% $7,205
Network Funding, L.P. 2 6.50% $19,166
LOANPAL, LLC 2 5.88% $14,889
LADERA LENDING, INC. 2 6.88% $12,815
First Interstate Bank 1 5.25% $10,810
First Federal Bank 1 6.50% $2,563
Encompass Lending Group, LP 1 7.25% $4,202
DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $7,074
Regions Bank 1 7.00% $9,505
CRESCENT MORTGAGE COMPANY 1 6.50% $6,084
Cornerstone First Mortgage, Inc 1 5.25% $64,557
SOVEREIGN LENDING GROUP INCORPORATED 1 5.25% $15,427
State Bank of Southern Utah 1 6.75% $9,413
Citizens Bank 1 7.13% $6,862
TBI MORTGAGE COMPANY 1 6.63% $3,997
The Central Trust Bank 1 5.13% $2,851
The Huntington National Bank 1 5.88% $617
The Loan Store, Inc. 1 5.63% $7,670
Truist 1 5.75% $14,666
WRIGHT-PATT CREDIT UNION, INC. 1 6.63% $8,738
Carrington Mortgage Services, LLC 1 2.60% $6,054
CALIBER HOME LOANS, INC. 1 6.25% $37,447
CALCON MUTUAL MORTGAGE LLC 1 5.75% $4,759
Armed Forces Bank 1 7.00% $2,927
V.I.P. MORTGAGE, INC. 1 7.13% $3,599
Victorian Finance, LLC 1 5.75% $17,134
MORIA DEVELOPMENT, INC. 1 7.13% $12,418
AMERICAN FINANCING CORPORATION 1 5.50% $8,164
Mid-Continent Funding, Inc. 1 5.63% $29,772
AMERICAN INTERNET MORTGAGE, INC. 1 5.13% $11,154
KeyBank 1 6.88% $11,082
NBH Bank 1 6.62% $6,557
KELLER MORTGAGE, LLC 1 5.25% $11,099
HOMESIDE FINANCIAL, LLC 1 6.63% $14,819
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $9,658
NFM, INC. 1 6.50% $6,977
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.75% $23,128
Guaranty Bank & Trust, N.A. 1 6.75% $7,762
GREENSTATE CREDIT UNION 1 6.75% $7,405
GoPrime Mortgage, Inc. 1 6.75% $3,445
Gateway First Bank 1 6.63% $9,763
GARDNER FINANCIAL SERVICES, LTD. 1 5.88% $29,048
First Savings Bank 1 5.50% $15,588
AMCAP MORTGAGE, LTD. 1 7.13% $7,356

The top Utah VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 557 VA loans originated. Their average total fees are $9,290, which is $1,432 higher than the next largest lender, Mortgage Research Center, LLC.

The lowest fee Utah VA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($4,682), HOMEAMERICAN MORTGAGE CORPORATION ($4,815), Wells Fargo Bank ($6,000), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,661) and NAVY FEDERAL CREDIT UNION ($6,735).

The lowest rate Utah VA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.08%), HOMEAMERICAN MORTGAGE CORPORATION (5.32%), NEST HOME LENDING, LLC (5.37%), Wells Fargo Bank (5.41%) and INSPIRE HOME LOANS INC. (5.46%).

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.