Provo FHA Loan Rates, Closing Costs & Stats

PROVO-OREM, UT

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Provo's 106 lenders originated 2,936 FHA loans during 2024. The total origination value was $1,252,730,000, with an average FHA loan value of $426,679.

    Provo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Provo averaged 6.58% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Provo's average FHA mortgage closing costs are $11,606.

    The average rate for the prior week (2025-07-11) was 6.18% and one month ago for the week of 2025-06-13, the average rate was 6.64%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.13%.

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

    Provo FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Provo level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 393 5.50% $9,634
    UNITED WHOLESALE MORTGAGE, LLC 340 5.96% $15,239
    FIRST COLONY MORTGAGE CORPORATION 291 6.01% $17,736
    SECURITYNATIONAL MORTGAGE COMPANY 230 6.43% $19,650
    QUICKEN LOANS, LLC 100 6.20% $15,436
    GUILD MORTGAGE COMPANY 79 6.20% $18,415
    INTERCAP LENDING INC. 73 6.24% $16,965
    EAGLE HOME MORTGAGE, LLC 71 5.19% $13,390
    Century Mortgage Company DBA Century Lending Company 68 5.93% $15,935
    NEST HOME LENDING, LLC 68 5.60% $18,590
    SECURITY HOME MORTGAGE, LLC. 64 6.20% $16,970
    MY MOVE MORTGAGE, LLC 53 5.81% $16,501
    Plains Commerce Bank 52 6.31% $19,492
    PENNYMAC LOAN SERVICES, LLC 40 6.01% $13,414
    The Loan Store, Inc. 37 6.17% $15,723
    Paramount Residential Mortgage Group, Inc. 36 6.31% $18,510
    FREEDOM MORTGAGE CORPORATION 36 6.30% $16,497
    LOANDEPOT.COM, LLC 36 6.00% $15,095
    VERITAS FUNDING, LLC 30 6.28% $18,538
    CLM MORTGAGE, INC 29 5.70% $17,223
    CROSSCOUNTRY MORTGAGE, LLC 27 6.29% $17,166
    RANLIFE, INC. 27 6.13% $18,307
    CMG MORTGAGE, INC. 21 6.10% $17,391
    CANOPY MORTGAGE, LLC 20 6.06% $18,060
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 6.28% $20,195
    NEWREZ LLC 18 6.17% $12,411
    Equity Prime Mortgage LLC 17 7.37% $19,013
    HOMEAMERICAN MORTGAGE CORPORATION 17 5.18% $10,802
    UTAH COMMUNITY 16 6.04% $13,465
    MOUNTAIN AMERICA 12 5.32% $13,378
    BROKER SOLUTIONS, INC. 12 6.11% $18,909
    Northpointe Bank 12 5.69% $20,044
    LAKEVIEW LOAN SERVICING, LLC 11 6.31% $11,006
    GUARANTEED RATE, INC. 10 5.83% $16,658
    DIRECT MORTGAGE, CORP. 10 6.24% $17,115
    CASTLE & COOKE MORTGAGE, LLC 10 6.23% $15,366
    GARDNER FINANCIAL SERVICES, LTD. 9 6.54% $19,596
    Mr. Cooper ( Nationstar Mortgage ) 9 6.38% $14,593
    AXIA FINANCIAL, LLC 8 6.36% $16,249
    VILLAGE CAPITAL MORTGAGE 8 6.29% $7,886
    AMERICAN FINANCIAL NETWORK, INC. 8 6.95% $17,761
    PLAZA HOME MORTGAGE, INC. 7 6.98% $13,905
    VAN DYK MORTGAGE CORPORATION 7 6.43% $15,730
    Sierra Pacific Mortgage Company, Inc. 6 6.27% $15,309
    CARDINAL FINANCIAL 6 6.23% $17,750
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.88% $12,652
    NATIONS RELIABLE LENDING, LLC 6 5.65% $20,879
    Cornerstone First Mortgage, Inc 5 6.03% $18,336
    HOMESIDE FINANCIAL, LLC 5 6.50% $20,194
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 5 6.30% $14,892
    INSPIRE HOME LOANS INC. 5 5.78% $18,978
    GUARANTEED RATE AFFINITY, LLC 5 6.00% $13,599
    SUN AMERICAN MORTGAGE COMPANY 4 6.25% $16,800
    American Mortgage & Equity Consultants, Inc. 4 6.56% $18,843
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.72% $13,905
    Glacier Bank 4 5.72% $15,115
    JMAC LENDING, INC. 4 6.66% $9,651
    PLANET HOME LENDING, LLC 4 6.15% $10,406
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.38% $20,148
    S1L, Inc. 4 6.25% $16,179
    Utah Mortgage Loan Corporation 4 6.00% $6,926
    Flagstar Bank, FSB 3 6.10% $14,460
    Network Funding, L.P. 3 6.08% $16,781
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 5.88% $15,536
    SUN WEST MORTGAGE COMPANY, INC. 3 5.75% $21,829
    AMERICAN FINANCING CORPORATION 3 5.79% $19,087
    LOANPAL, LLC 3 5.42% $19,431
    PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.67% $17,357
    BAY EQUITY LLC 3 5.88% $17,625
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.04% $22,867
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.92% $21,051
    MICHIGAN MUTUAL, INC. 2 6.19% $17,454
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.19% $4,396
    Carrington Mortgage Services, LLC 2 6.00% $18,238
    City Lending Inc. 2 7.63% $20,345
    Nations Lending Corporation 2 6.44% $16,941
    Franklin Loan Corporation 2 6.00% $13,389
    Encompass Lending Group, LP 2 6.00% $14,505
    BELEM SERVICING LLC 2 6.38% $14,460
    CYPRUS Federal Credit Union 2 6.56% $16,592
    UNION HOME MORTGAGE CORP. 2 6.00% $21,264
    Bank of Utah 2 5.88% $8,569
    CITYWIDE HOME LOANS, LLC 2 6.25% $13,485
    Zions Bank 2 5.94% $11,894
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $27,544
    Ixonia Bank 1 6.63% $16,268
    Hometown Equity Mortgage, LLC 1 6.75% $13,916
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.25% $26,853
    GENEVA FINANCIAL, LLC 1 6.63% $25,238
    NFM, INC. 1 6.13% $11,802
    FLAT BRANCH MORTGAGE, INC. 1 6.25% $15,851
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $7,168
    OPEN MORTGAGE, LLC 1 5.63% $18,380
    AmeriHome Mortgage Company, LLC 1 6.75% $9,002
    RESIDENTIAL BANCORP 1 5.99% $16,250
    Waterstone Mortgage Corporation 1 5.00% $27,561
    JPMorgan Chase Bank 1 6.50% $7,577
    Cache Valley Bank 1 5.75% $7,676
    BETTER MORTGAGE CORPORATION 1 4.75% $14,043
    SUMMIT FUNDING, INC. 1 6.63% $15,563
    The Federal Savings Bank 1 7.75% $8,855
    TOWNE MORTGAGE COMPANY 1 4.99% $14,134
    Bank of England 1 6.75% $21,793
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $9,762
    MORTGAGEONE, INC. 1 6.13% $15,359
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.63% $13,042

    The top Provo FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 393 FHA loans originated. Their average total fees are $9,634, which is $5,605 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Provo FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,634), HOMEAMERICAN MORTGAGE CORPORATION ($10,802), LAKEVIEW LOAN SERVICING, LLC ($11,006), NEWREZ LLC ($12,411) and MOUNTAIN AMERICA ($13,378).

    The lowest rate Provo FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION (5.18%), EAGLE HOME MORTGAGE, LLC (5.19%), MOUNTAIN AMERICA (5.32%), DHI MORTGAGE COMPANY, LTD. (5.50%) and NEST HOME LENDING, LLC (5.60%).

    Provo FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PROVO-OREM, UT JUAB 2022 $508,300 $650,700 $786,550 $977,500
    PROVO-OREM, UT UTAH 2022 $508,300 $650,700 $786,550 $977,500
    PROVO-OREM, UT JUAB 2023 $601,450 $769,950 $930,700 $1,156,650
    PROVO-OREM, UT UTAH 2023 $601,450 $769,950 $930,700 $1,156,650

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).