A Utah heavyweight
It ranks 3 of 363 lenders in Salt Lake City-Murray, 4 of 319 in Provo-Orem-Lehi and 5 of 308 in Ogden. Only United Wholesale Mortgage and Rocket Mortgage lend more in Salt Lake City. Home purchases made up 79.4% of its loans.
Applications / Mortgage Analytics / Lenders / Utah / Intercap Lending
Intercap Lending
Salt Lake City, UT · Independent non-bank lender · CFPB · 4,500 loans in 2025
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4,500
loans originated, 2025
5,987
applications, 2025
35
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Intercap Lending ranks among the five biggest lenders in three Utah metros, but it lost ground in each of them in 2025 as its loans slipped while similar lenders grew.
Slipping at home
Its share of Salt Lake City fell from 5.8% to 4.7%, and it fell too in Provo, Ogden and St. George. Its loans fell 3% to 4,500, while the typical similar lender, here an independent lender making between half and twice as many loans, grew 11%. With its own loans almost flat in a market that grew 10%, the lower shares may reflect rivals growing faster rather than business it lost. It also lends in 35 states and may be putting more effort beyond Utah.
Larger loans, fewer turned down
Its typical loan was $405,000, against $315,000 at peers, larger than at more than four in five of them. It turned down 0.5% of home-purchase applications, against 4.3% at the typical peer, and 2.1% of refinance applications, against 8.0%. Both rates are among the lowest in its peer group.
Few higher-priced loans
Only 0.7% of its loans were higher-priced, meaning a rate well above the average for similar loans, against 2.4% at peers. Its typical rate was 6.50%, a little below the peer figure of 6.62%.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
4,500 loans in 2025, against a peak of 16,270 in 2020.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Intercap Lending took 5,987 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
79.4% of its 2025 loans were purchase loans; 72.4% were conventional loans.
Purchase 79.4% · Refinance 20.6%
Conventional 72.4% · FHA 21.4% · VA 6.0% · USDA (RHS or FSA) 0.3% · of 4,500 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
35 states, 119 metros, 218 counties
| State | Loans | Share |
|---|---|---|
| Utah | 3,672 | 81.6% |
| California | 224 | 5.0% |
| Arizona | 149 | 3.3% |
| Idaho | 115 | 2.6% |
| Washington | 84 | 1.9% |
| Nevada | 54 | 1.2% |
| North Carolina | 33 | 0.7% |
| Colorado | 31 | 0.7% |
| Texas | 24 | 0.5% |
| Florida | 20 | 0.4% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Salt Lake City-Murray | 1,328 |
| Provo-Orem-Lehi | 776 |
| Ogden | 773 |
| St. George | 248 |
| San Diego-Chula Vista-Carlsbad | 151 |
| Flagstaff | 70 |
| Logan | 64 |
| Boise City | 55 |
| Spokane-Spokane Valley | 50 |
| Las Vegas-Henderson-North Las Vegas | 47 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300S5FVOSK5DQJN30 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3850505 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 7850260899 | |
| Respondent ID (the HMDA filer code before 2018) | 73213309992 | 1993–2012 |
Established 14 April 1978. Reported under HMDA 1993-2025.
Mergers, name changes, data editions and corrections: Intercap Lending's data.
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