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US » Utah

Key Questions:

    1. How at risk is Utah to the subprime mortgage crisis?
    1. Loans taken out by home owners in Utah are within a +/- 10 percent band of the national average. That is to say, Utah will likely be affected by the subprime mortgage crisis just like the average county in the US.
    2. How stretched will home owners in Utah be in paying off their mortgage?
    1. Homeowners in Utah borrowed an average of 1.69 times their annual income for their mortgage. This compares to 1.83 for all of the US. Based on the national average, there will be a normal risk that Utah homeowners will default on their mortgage payments in the coming years.
    3. Who are the leading lenders in Utah?
    1. The leading lenders, by market share, are Countrywide Home Loans, Lehman Brothers Bank and Wells Fargo Bank, Na. Do you have the best rate possible? Get quotes from mortgage lenders.
    4. How likely are the owners of homes in Utah to actually live in them?
    1. 86.7% of home owners in Utah that applied for a mortgage in 2006 live in their homes versus owning them as an investment property. This compares to the national average of 89.0%.
2006 Mortgage Research Utah US
Total Applications 374,624 33,304,682
Average Loan $158.2k $184.9k
Loan to Income Ratio 1.69 1.83
Subprime Loans 11.34% 11.98%
Refinancing Loans 43.04% 50.05%
Principal Dwellings 86.68% 88.97%
Rejected Applications 10.56% 12.36%
Top Ten Lenders
# Name Share Apps
1 Countrywide Home Loans 9.89% 37,034
2 Lehman Brothers Bank 3.94% 14,772
3 Wells Fargo Bank, Na 3.83% 14,346
4 Countrywide Bank, N.A. 3.57% 13,376
5 Citimortgage, Inc 3.40% 12,725
6 National City Bank 3.25% 12,173
7 Wells Fargo Funding, Inc 2.32% 8,702
8 Washington Mutual Bank 2.24% 8,385
9 Argent Mortgage Company 1.99% 7,471
10 Redidential Funding Corp. 1.90% 7,118