Utah Mortgage Calculator

Calculate your monthly mortgage payment in Utah. Average home price: $480,000 · Property tax rate: 0.58% · Median household income: $79,449.

Calculate Your Utah Mortgage Payment

Home Price ($)

Down Payment ($)

Interest Rate (%)

Loan Term (Years)

Property Tax Rate (%)

Annual Insurance ($)

HOA Monthly ($)

Loan Type

Utah Housing Market Overview

$480,000

Avg Home Price

0.58%

Property Tax Rate

$1,100

Annual Insurance

6.65%

Avg Mortgage Rate

The average home price in Utah is $480,000, with a property tax rate of 0.58%. With 20% down at 6.65%, your estimated monthly payment would be approximately $2,789/month including principal, interest, taxes, and insurance (PITI).

Utah's median household income is $79,449, making the average home roughly 6.0x the median annual income. Financial advisors generally recommend a home price no more than 3-4x your annual income.

How Mortgage Payments Work in Utah

Your monthly mortgage payment in Utah consists of four components (PITI):

Principal: The portion that reduces your loan balance. Starts small and grows over time.
Interest: The cost of borrowing. At 6.65%, you'll pay significant interest in the early years.
Taxes: Utah's property tax rate of 0.58% means approximately $232/month on the average home.
Insurance: Homeowners insurance in Utah averages $1,100/year ($92/month).

If your down payment is less than 20%, you'll also pay Private Mortgage Insurance (PMI), typically 0.5-1% of the loan annually. FHA loans require mortgage insurance for the life of the loan.

Tips for Utah Home Buyers

Get pre-approved: Know exactly how much you can afford before shopping in Utah.
Compare rates: Even a 0.25% rate difference saves thousands over 30 years on a $480,000 home.
Consider property taxes: Utah's 0.58% rate can vary significantly by county — research your target area.
Shop insurance: Utah homeowners insurance averages $1,100/year, but rates vary. Get 3-5 quotes.
Budget for closing costs: Expect 2-5% of the purchase price ($9,600-$24,000) in closing costs.
Build an emergency fund: Set aside 3-6 months of mortgage payments ($8,366-$16,733) for emergencies.

Explore Other States

Frequently Asked Questions

What is the average mortgage payment in Utah?

Based on the average home price of $480,000 with 20% down at 6.65%, the typical monthly payment in Utah is approximately $2,789, including principal, interest, property taxes (0.58%), and homeowners insurance ($1,100/year).

What is the property tax rate in Utah?

Utah's effective property tax rate is approximately 0.58%. On a $480,000 home, that's about $2,784/year or $232/month. Property tax rates can vary by county within Utah.

How much do I need for a down payment on a home in Utah?

For a conventional loan, 20% down on the average Utah home ($480,000) would be $96,000. FHA loans require as little as 3.5% ($16,800), and VA loans offer 0% down for eligible veterans. Lower down payments mean higher monthly payments and PMI.

What credit score do I need for a mortgage in Utah?

Conventional loans typically require 620+, FHA loans 580+ (for 3.5% down) or 500+ (for 10% down), and VA loans have no minimum but lenders typically prefer 620+. Higher scores get better rates — a 760+ score in Utah could save you 0.5-1% on your rate.

Should I get a 15-year or 30-year mortgage in Utah?

A 30-year mortgage offers lower monthly payments but more total interest. A 15-year mortgage has higher payments but saves significantly on interest. On a $384,000 loan at 6.65%, you'd save approximately $191,520 in total interest with a 15-year term.

How much house can I afford in Utah?

With Utah's median household income of $79,449, following the 28% rule (housing should be ≤28% of gross income), you could afford approximately $1,854/month for housing. That supports a home price of roughly $278,072-$317,796 depending on rates, taxes, and insurance.