Utah, UT

Utah Mortgage Calculator

Estimate your complete monthly payment in Utah including taxes, insurance & PMI

🏠 Avg Home Price: $400,000
🏛️ Property Tax: 0.58%
🛡️ Insurance: $800/yr
📍 Largest City: Salt Lake City
Utah Mortgage Calculator
Home Price
$50K$2M
Down Payment
3%60%
Interest Rate
1%15%
Loan Term
Property Tax (Annual)
Utah avg: 0.58% — $2320/yr
Home Insurance (Annual)
Utah avg: $800/year
HOA Fees (Monthly)
PMI Rate
Required if down payment < 20%

Amortization Schedule

Show / Hide
YearPrincipal PaidInterest PaidRemaining Balance
Your Monthly Payment
$0
Principal · Interest · Taxes · Insurance
Principal & Interest—
Property Tax—
Home Insurance—
PMI—
HOA—
Loan Amount—
Total Interest—
Total Cost—
—
P&I share
Utah Housing Market
  • 🏠
    Avg Home Price
    $400,000
  • 📈
    Property Tax
    0.58% annually
  • 🛡️
    Home Insurance
    $800/year
  • 📍
    Major City
    Salt Lake City
  • 🗺️
    State Code
    UT
Utah Mortgage Tips
  • ✅
    Get pre-approved before house hunting in Utah
  • ✅
    Compare at least 3–5 lenders for best rate
  • ✅
    Check Utah first-time buyer programs
  • ✅
    Budget 0.58% property tax into monthly costs
  • ✅
    Consider mortgage recast to lower payments
Current Rates 2026
  • 📊
    30-Year Fixed
    ~6.5% – 7.0%
  • 📊
    15-Year Fixed
    ~5.7% – 6.2%
  • 📊
    FHA Loan
    ~6.2% – 6.8%
  • 📊
    VA Loan
    ~5.9% – 6.4%
  • 📊
    Jumbo Loan
    ~6.8% – 7.4%

Utah Mortgage Calculator – Complete 2026 Guide

Buying a home in Utah is one of the most significant financial commitments you'll make. Whether you're a first-time homebuyer in Salt Lake City or refinancing an existing property, accurately estimating your monthly mortgage payment is essential for smart financial planning. Our Utah Mortgage Calculator gives you a complete picture of your monthly costs — including principal, interest, property taxes at Utah's 0.58% average rate, homeowners insurance, HOA fees, and PMI if applicable.

📌 Quick Estimate: On a $400,000 home in Utah with 20% down ($80,000) and a 6.8% interest rate on a 30-year loan, your estimated monthly payment is approximately $2346/month (PITI — Principal, Interest, Taxes & Insurance).

How to Use the Utah Mortgage Calculator

Simply enter your details into the calculator above. Here's what each field means for Utah homebuyers:

  • Home Price: The purchase price. Average home price in Utah is $400,000.
  • Down Payment: 20% = $80,000 — avoids PMI on your Utah mortgage.
  • Interest Rate: 2026 average in Utah is ~6.5%–7.0% for a 30-year fixed loan.
  • Loan Term: 30 years is most common for lower payments; 15 years saves interest.
  • Property Tax: Utah averages 0.58% = $2320/year on a $400,000 home.
  • Home Insurance: Utah average is $800/year ($67/month).

Utah Property Taxes Explained

Property taxes in Utah are calculated as a percentage of your home's assessed value. Utah's average effective rate of 0.58% means on a $400,000 home, you pay approximately $2320 per year or $193 per month in property taxes. Rates vary by county — always verify with your Utah county assessor's office.

Monthly Cost Breakdown for Utah

Payment ComponentMonthlyAnnual
Principal & Interest (6.8%, 30yr)$2086$25,032
Property Tax (0.58%)$193$2320
Home Insurance$67$800
Total PITI Payment$2346$28,152

Income Needed to Buy a Home in Utah

Lenders typically use the 28% front-end DTI rule — your total housing payment (PITI) should not exceed 28% of your gross monthly income.

  • Estimated monthly payment for average Utah home: $2346
  • Required annual gross income (28% rule): $89,400
  • Assumes 20% down payment of $80,000 and 6.8% rate

Utah Mortgage Rates 2026

Loan TypeAvg Rate (2026)Best For
30-Year Fixed6.5% – 7.0%Lower monthly payments
15-Year Fixed5.7% – 6.2%Pay off faster, save on interest
FHA 30-Year6.2% – 6.8%Lower credit, 3.5% down
VA Loan5.9% – 6.4%Veterans, 0% down
USDA Loan6.0% – 6.5%Rural Utah, 0% down

Mortgage Recast vs Refinance in Utah

If you already own a Utah home and want a lower payment:

  • Refinance: New loan at potentially lower rate — requires full underwriting, appraisal, 2%–5% in closing costs.
  • Mortgage Recast: Lump-sum payment toward principal, re-amortized at same rate. Only $150–$500 fee. No credit check. Must have conventional loan.

🔄 Use our Free Mortgage Recast Calculator to see how much you could save on your Utah mortgage.

Frequently Asked Questions

Everything you need to know about mortgages in Utah

What is the average mortgage payment in Utah?+
Based on Utah's average home price of $400,000 with a 20% down payment ($80,000) and 6.8% on a 30-year mortgage, the estimated monthly PITI payment is $2346. This includes $2086 principal & interest, $193 property tax (0.58%), and $67 insurance. Your actual payment depends on your specific loan terms, credit score, and location within Utah.
What is the property tax rate in Utah?+
Utah has an average effective property tax rate of 0.58% per year. On a $400,000 home that's $2320 per year ($193/month). County rates vary — check your local Utah county assessor's office for the precise rate in your area.
How much down payment do I need in Utah?+
For a $400,000 Utah home your options are:
  • 3.5% FHA: $14,000 — requires PMI
  • 5% Conventional: $20,000 — requires PMI
  • 10%: $40,000 — lower PMI
  • 20%: $80,000 — no PMI!
  • 0% VA/USDA: $0 — for eligible veterans & rural areas
How much income do I need to afford a home in Utah?+
Using the 28% debt-to-income rule, you need approximately $89,400 gross annual income to comfortably afford a $400,000 home in Utah with 20% down. This means your monthly housing costs ($2346) don't exceed 28% of your gross monthly income. Your actual qualifying income may differ based on debt, credit score, and lender.
Can I use a mortgage recast in Utah?+
Yes! Utah homeowners with conventional loans (Fannie Mae/Freddie Mac) can recast their mortgage. Make a lump-sum principal payment (typically $5,000+ minimum), and your lender re-amortizes the balance at the same rate — lowering your monthly payment with a small fee ($150–$500). Note: FHA, VA, and USDA loans are generally not eligible for recasting in Utah.
What is PMI and when is it required in Utah?+
PMI (Private Mortgage Insurance) is required in Utah when your down payment is under 20%. It typically costs 0.3%–1.5% of the loan per year — on a $320,000 Utah loan that's roughly $$400 per month. PMI is automatically removed once you reach 20% equity in your Utah home. Use our PMI Calculator to estimate your exact cost.
30-year vs 15-year mortgage in Utah — which is better?+
On a $320,000 Utah loan:
  • 30-Year at 6.8%: ~$2086/month — lower payment, total interest: $430,960
  • 15-Year at 6.0%: ~$2,700/month — higher payment but saves tens of thousands in interest
Choose 30-year if cash flow is important. Choose 15-year if you want to build equity fast and save on interest.
What are current mortgage rates in Utah for 2026?+
As of 2026, Utah mortgage rates average:
  • 30-Year Fixed: ~6.5% – 7.0%
  • 15-Year Fixed: ~5.7% – 6.2%
  • FHA 30-Year: ~6.2% – 6.8%
  • VA Loan: ~5.9% – 6.4%
  • Jumbo: ~6.8% – 7.4%
Always compare quotes from multiple Utah lenders. Even 0.25% difference can save thousands over your loan life.

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