Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Utah

Utah Mortgage Calculator

Set to Utah’s own property tax rate of 0.49% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($109,000)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$3,160
Monthly payment
$2,779
Principal & interest
$223
Taxes
$159
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $436,000 Interest paid $564,366
20262056
Total of 360 payments$1,137,736
Principal$436,000
Interest$564,366
Taxes$80,130
Insurance$57,240
HOA fees$0
P&I 87.9% Taxes 7.0% Insurance 5.0%
15- vs 30-year term at 6.58%
15-year
$3,817/mo P&I
$251,101 total interest
30-year · current
$2,779/mo P&I
$564,366 total interest
The 15-year term saves $313,265 in interest. Which term is right for you?

What these numbers come from

Median home value
$545,200
Median tax bill
$2,648
Effective tax rate
0.49%
Rank of 51
43rd highest

Utah taxes property at about 0.49% of value against 0.89% nationally. On a $545,000 home that is $182 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Utah home prices

20% down, 30-year fixed at 6.58%, with Utah property tax of 0.49% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$327,000 $261,600 $1,667 $134 $1,896
$436,000 $348,800 $2,223 $178 $2,528
$545,000 median $436,000 $2,779 $223 $3,160
$682,000 $545,600 $3,477 $278 $3,955
$818,000 $654,400 $4,171 $334 $4,743

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Utah taxes alone add $223 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $388 $2,391 $382 $435,612
Sep $390 $2,389 $382 $435,222
Oct $392 $2,386 $382 $434,829
Nov $394 $2,384 $382 $434,435
Dec $397 $2,382 $382 $434,038
2026 $1,962 $11,932 $1,908 $434,038
Jan $399 $2,380 $382 $433,639
Feb $401 $2,378 $382 $433,238
Mar $403 $2,376 $382 $432,835
Apr $405 $2,373 $382 $432,430
May $408 $2,371 $382 $432,022
Jun $410 $2,369 $382 $431,612

Refinancing in Utah

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Utah home loans in detail

Utah Mortgage Overview

Utah is a gorgeous place to live and offers many benefits. With just over 3 million people living there, and the median home price of $575,000 it's easy to see why people live in Utah.

If you're thinking about buying a home in this beautiful state, here are your loan options:

Utah conventional loans

Utah conventional loans are a great way to buy a home. You need just a 660 credit score and 3 percent down payment if you're a first-time buyer and 5 percent if you owned a house before. If you put less than 20 percent down, you'll need PMI, but you can cancel it once you owe less than 80 percent of the home's value. Conventional loans have flexible debt ratio requirements up to 40 percent.

Utah FHA loans

FHA loans are flexible and easy to qualify for, with just a 580 credit score. Borrowers need 3.5 percent down. If you have a 500 - 579 credit score, you'll need a 10 percent down payment, but only 3.5 percent has to come from your funds. Down payment assistance may help with the rest.

Utah VA loans

Veterans of the military sacrificed their time and lives and the VA rewards them with 100 percent financing. As long as you served 181 days during peacetime or 90 days during wartime, you may qualify. You can have a debt-to-income ratio as high as 50 percent. VA loans don't have mortgage insurance but you will pay an upfront funding fee in most cases.

Utah USDA loans

If you don't qualify for the above loans, the USDA loan may be an option. You must live in a rural area, but the USDA has loose guidelines regarding what's rural. You'll need a 640 credit score and prove that you can afford all your debts including the consumer debts you currently carry. Only first-time homebuyers or those who haven't owned a home in 3 years are eligible.

First-Time Homebuyer

Programs in Utah

Utah Housing Corp Home Loan

First-time homebuyers with a 620+ credit score and qualifying income up to $8,900 a month may qualify for a low-interest fixed rate loan. This is the first step to buying your first home in Utah and is required if you need down payment assistance.

Down payment assistance

Many lenders throughout Utah offer the down payment assistance program which may provide up to 100 percent of the funds needed for the down payment and closing costs.

SCORE

The Utah SCORE loan is for borrowers with credit issues but who can prove they can afford the loan. You need a 620 credit score and may be eligible for down payment assistance. You need to meet the income guidelines like any other state-funded program, but it's a great way to buy your first home if you have credit issues.

Utah mortgage FAQ

How much is property tax on a home in Utah?
Utah homeowners pay an effective property tax rate of about 0.49 percent of home value — the 43rd highest of the 50 states and DC. On the state's median home value of $545,200 that works out to roughly $2,671 a year, or $223 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Utah home?
At $545,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $2,779 a month. Adding Utah property tax of roughly $223 a month and an estimated $159 of homeowner insurance brings the full payment to around $3,160.
What mortgage options are available in Utah?
Utah homebuyers can choose conventional loans with a 660 credit score and 3 percent down for first-time buyers, FHA loans with 3.5 percent down and a 580 score, VA loans offering 100 percent financing for qualifying veterans, or USDA loans for rural properties with a 640 credit score. PMI on conventional loans can be canceled once you owe less than 80 percent of the home's value.
What first-time homebuyer programs does Utah offer?
The Utah Housing Corp Home Loan gives first-time buyers with a 620 or higher credit score a low-interest fixed rate loan and is required if you need down payment assistance. Many Utah lenders also offer a down payment assistance program covering up to 100 percent of the down payment and closing costs, and the SCORE loan helps buyers with credit issues who meet income guidelines.
What credit score do you need to buy a home in Utah?
It depends on the loan. Conventional loans in Utah require a 660 credit score, FHA loans accept 580 with 3.5 percent down or 500 to 579 with 10 percent down, USDA loans need 640, and the Utah Housing Corp and SCORE programs both require at least 620. VA loans focus more on service history and allow debt ratios up to 50 percent.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.