Utah Mortgage Lending

Statewide mortgage activity. Lenders filed 154,955 HMDA-reported mortgage applications in Utah in 2024, originating 87,207 loans and denying 23,869. That puts the statewide denial rate at 15.4% and the approval (origination) rate at 56.3%. The average loan amount across Utah was $341,559 at an average note rate of 7.18%. 509 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 29 counties and 6 metropolitan areas.

What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 63.6% and denial rate of 16.3%; while Asian applicants had an approval rate of 56.4% and denial rate of 17.9%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Salt Lake County, Utah County, Davis County.

How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.