Free mortgage payment calculator tailored for Utah (UT). Calculate instantly with state-specific rates and rules.
The median home value in Utah is $470,000. Utah's housing market saw extreme appreciation 2020-2022 (50-70% in Salt Lake and Utah counties), followed by a significant correction in 2023. Prices remain well above 2019 levels. St. George and Park City are premium markets.
The conforming loan limit is $726,200. Most Utah counties are at the standard conforming limit. Summit County (Park City) qualifies for higher limits. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $470,000 with a 20% down payment ($94,000), you'd borrow $376,000. At 7% for 30 years, principal and interest runs approximately $2,502/month. Add property taxes (~$204/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Utah's effective property tax rate of 0.52% (avg. bill: $2,191/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Utah should budget for closing costs of approximately $3,100. Utah has no transfer tax on residential properties, which significantly reduces closing costs. Title insurance is the primary variable cost component.
Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.
More from TUDITOOLS