Utah Mortgage Calculator
Calculate your Utah mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Salt Lake City, West Valley City, Provo, West Jordan, Orem, and all of Utah.
Useful for home buyers in Salt Lake City, West Valley City, Provo, West Jordan, Orem, and all of Utah.
Why use a Utah Mortgage Calculator?
Utah's property market has seen significant growth in recent years. This calculator estimates your mortgage payment, PMI, property tax, and closing costs specific to Utah.
Utah's property market has seen significant growth in recent years. This calculator estimates your mortgage payment, PMI, property tax, and closing costs specific to Utah.
Result
Enter your details to see the estimated payment here.
Related Calculators
Utah Property Tax: The average effective property tax rate is about 0.58%. Utah charges a mortgage recording fee based on the number of pages in the document.
Average Home Prices in Major Utah Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Salt Lake City | $620,000 | $520,000 | $450,000 | $400,000 |
| West Valley City | $480,000 | $420,000 | $380,000 | $340,000 |
| Provo | $520,000 | $470,000 | $420,000 | $370,000 |
| West Jordan | $530,000 | $460,000 | $410,000 | $360,000 |
| Orem | $510,000 | $450,000 | $400,000 | $350,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Utah
- Property Tax: Utah's average effective property tax rate is about 0.58%. Property taxes are paid annually and may be included in your monthly payment.
- Recording Fees: Utah charges recording fees based on the number of pages in the document rather than a percentage of the loan amount.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Utah's closing costs include title insurance, appraisal fees, and other expenses, typically ranging from 2-3% of the purchase price.
Example: On a $500,000 home with 10% down in Salt Lake City, you pay PMI and property tax. Closing costs are typically 2-3% of the purchase price.
Frequently Asked Questions
Utah has one of the lowest property tax rates in the country with an average effective rate of about 0.58% of the assessed value. Property taxes are paid annually and may vary by county and municipality.
Utah does not have a transfer tax or mortgage recording tax based on a percentage of the sale price or loan amount. Instead, Utah charges nominal recording fees based on the number of pages in the document being recorded.
Yes, the Utah Housing Corporation (UHC) offers several first-time homebuyer programs, including the FirstHome Loan program, which provides below-market interest rates, and down payment assistance programs like the Utah Housing Down Payment Assistance program.
Closing costs in Utah typically range from 2-3% of the purchase price and include title insurance, appraisal fees, attorney fees, recording fees, and other expenses. Utah's recording fees are nominal and based on the number of pages in the document, not the loan amount.