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Salt Lake County, Utah · 2025

Mortgage lenders in Salt Lake County, UT: denial rates and top lenders (2025)

404 lenders acted on 46,465 mortgage applications for properties in Salt Lake County in 2025. 17.7% were denied (Utah: 16.0%). Median rate on closed loans 6.63%; median loan $295,000; median property value $585,000.

46kApplications
17.7%Denial ratestate 16.0%
6.63%Median ratestate 6.63%
$295,000Median loan
$585,000Median property value

Largest lenders in Salt Lake County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 Mountain America Federal Credit Union D 5,2442,412 37.5%7.25%
2 AMERICA FIRST Federal Credit Union C 5,1583,636 20.6%6.99%
3 United Shore Financial Services B 3,7792,980 8.1%6.38%
4 Rocket Mortgage C 2,0421,569 14.6%6.75%
5 Intercap Lending A 1,5621,185 0.8%6.50%
6 CYPRUS Federal Credit Union C 1,146738 24.1%4.99%
7 University First Federal Credit Union B 1,114696 18.7%4.99%
8 Kind Lending C 1,066741 20.9%6.38%
9 Securitynational Mortgage D 1,036701 5.2%6.75%
10 Zions Bancorporation B 1,000577 21.0%6.38%
11 Guild Mortgage A 865611 1.5%6.50%
12 First Colony Mortgage A 771660 2.7%6.25%
13 The Loan Store B 735542 7.1%6.49%
14 Utah First C 686436 28.3%7.50%
15 Pennymac Loan Services C 647377 14.2%6.50%
16 Goldenwest B 598388 22.4%7.50%
17 Fairway Independent Mortgage B 569418 1.8%6.63%
18 Newrez D 548204 20.8%6.75%
19 U.S. Bank D 504244 31.2%7.70%
20 Ranlife B 455307 1.3%6.38%
21 Freedom Mortgage B 450222 7.1%6.25%
22 My Move Mortgage A 435336 0.5%6.13%
23 Nationstar Mortgage C 432308 16.2%8.50%
24 Spring Eq D 431150 51.0%8.70%
25 Crosscountry Mortgage B 421284 3.8%6.63%

Best approval odds in Salt Lake County

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1Conventus510.0%
2My Move Mortgage3380.6%
3Security Home Mortgage, LLC.1080.9%
4Intercap Lending1,2651.0%
5Clm Mortgage831.2%
6Ranlife3181.9%
7Guild Mortgage6672.0%
8Gardner Financial Services882.3%
9Fairway Independent Mortgage4302.3%
10Alameda Mortgage673.0%

What Salt Lake County borrowers applied for

By loan purpose

Home purchase 17,450 38% · 8.3% denied
Refinance 9,722 21% · 19.5% denied
Cash-out refinance 6,991 15% · 19.6% denied
Home improvement 5,600 12% · 24.9% denied
Other / HELOC 6,702 14% · 31.1% denied

By loan type

Conventional 39,403 85% · 18.5% denied
FHA 5,409 12% · 13.4% denied
VA 1,647 4% · 10.8% denied
USDA / RHS 6 0% · 0.0% denied

Why applications were denied

Debt-to-income ratio 3,637 44%
Credit history 1,419 17%
Collateral 934 11%
Other 784 10%
Incomplete application 719 9%
Unverifiable information 452 6%
Insufficient cash 202 2%
Employment history 46 1%
Mortgage insurance denied 4 0%

Salt Lake County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
202341,72024,58419.1%7.13%$205,000
202443,67126,44518.6%6.99%$255,000
202546,46528,61817.7%6.63%$295,000

Frequently asked questions

17.7% of applications in Salt Lake County were denied in 2025, against 16.0% statewide in Utah.

Mountain America Federal Credit Union, with 5,244 applications in 2025 and a denial rate of 37.5%.

The median mortgage application in Salt Lake County in 2025 was for $295,000; the median property value on originated loans was $585,000.