Mortgage Calculator Utah: Monthly Payment with Tax & PMI
This mortgage calculator for Utah estimates your full monthly payment — principal & interest, property tax (with the 45% primary-residence exemption), homeowners insurance and PMI. Every input is editable, and it all runs privately in your browser.
Effective rate = annual tax ÷ market value. Utah primary homes are taxed on 55% of market value, so an effective rate is roughly 55% of the county tax rate printed on your notice.
A mortgage calculator for Utah estimates the full monthly cost of a Utah home loan: principal and interest from standard amortization, property tax after Utah’s 45% primary-residence exemption, homeowners insurance, and PMI when you put less than 20% down. Utah has no real estate transfer tax, so closing costs are mainly lender, title and escrow fees.
How Utah Mortgage Rates Compare in 2026
Utah mortgage rates move with the national market and change weekly, so treat the 6.8% default as an example rate. Rates in Utah are influenced by local housing demand, median credit scores, and the share of conforming versus jumbo loans in the market.
On a $540,000 home with 20% down, a 6.8% rate produces a monthly principal and interest payment of approximately $2,816. A 0.25% rate increase adds roughly $54 to your monthly payment, so shopping multiple lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk. Most Utah homebuyers choose 30-year fixed loans for payment predictability, especially with home prices currently at $540,000. FHA loans (3.5% down) and VA loans (0% down for veterans) are also popular in Utah.
The 6.8% default is an example rate, not a live quote. Enter the rate from your Loan Estimate, and compare it with the weekly Freddie Mac PMMS national average.
Utah-Specific Closing Costs and Fees
Beyond your down payment, Utah homebuyers pay closing costs averaging 2–5% of the loan amount. On a $432,000 loan, that is approximately $8,640–$21,600 due at closing. Utah is a non-attorney closing state: a licensed title company usually issues the title policy, holds the money in escrow, and records the deed. Your Loan Estimate lists the exact figures.
| Utah closing cost | Who / what | Typical amount |
|---|---|---|
| Real estate transfer tax | Not charged in Utah | $0 |
| Recording fee | County recorder, per document (Utah Code 17-21-18.5) | $40 per document |
| Title insurance | Lender’s policy, often an owner’s policy too; issued by the title company | Quoted by title company |
| Escrow / settlement fee | Title company that runs the closing | Quoted by title company |
| Origination fee | Lender processing | 0.5–1% of the loan |
| Appraisal | Confirms the home value | $400–$700 |
| Prepaid property tax | 2–3 months into your escrow account | About $648 for three months at 0.48% on $540,000 |
| Homeowners insurance | First-year premium | About $1,500 |
Some of these costs are negotiable. Sellers sometimes cover a portion of buyer closing costs as a concession, particularly in slower Utah markets.
First-Time Buyer Programs in Utah
Utah Housing Corporation FirstHome and HomeAgain loans with down payment assistance. These programs can reduce the cash needed to close by thousands of dollars, making homeownership more accessible in Utah's current market.
FHA loans are available nationwide and require only 3.5% down with a 580+ credit score — ideal for first-time buyers in Utah who have limited savings. USDA loans offer 0% down for eligible rural properties in Utah. VA loans are available to qualified veterans and active-duty service members with no down payment required and no PMI.
If your down payment is below 20%, Private Mortgage Insurance (PMI) adds cost every month. At a 0.6% annual rate on a $432,000 loan, that is about $216/month. Freddie Mac puts typical PMI at $30–$70 a month per $100,000 borrowed, so enter your lender’s quote in the PMI field. PMI can be removed once your loan-to-value ratio reaches 80%, so making extra payments accelerates the timeline to dropping PMI.
Worked Example: $500,000 Utah Home with 10% Down
Here is how the calculator builds a payment step by step. Assumptions: $500,000 purchase price, 10% down ($50,000), a $450,000 30-year fixed loan at an example rate of 6.5%, a 0.48% effective property tax rate, $1,500 a year for insurance, and PMI at 0.6% a year. Click Load Example above to reproduce it.
| Payment part | How it is calculated | Monthly |
|---|---|---|
| Principal & interest | $450,000 × [r(1+r)360] ÷ [(1+r)360 − 1], r = 6.5% ÷ 12 | $2,844.31 |
| Property tax | $500,000 × 0.48% ÷ 12 | $200.00 |
| Homeowners insurance | $1,500 ÷ 12 | $125.00 |
| PMI | $450,000 × 0.6% ÷ 12 | $225.00 |
| Total monthly payment | P&I + tax + insurance + PMI | $3,394.31 |
Over 30 years this loan pays about $573,950 in interest. PMI stops once you reach 20% equity, which lowers the payment by $225 in this example.
How Utah Property Tax Works in This Calculator
Utah taxes a primary residence on only 55% of its market value. The other 45% is exempt under Utah Code 59-2-103. Second homes, cabins and vacation rentals do not qualify. That exemption is a big reason Utah’s effective rate is low: the Tax Foundation (Property Taxes by State and County, 2026 edition, from Census American Community Survey data for 2020–2024) puts it at about 0.48% of owner-occupied home value, one of the lowest in the US, and that is the calculator’s default. The calculator accepts either kind of rate:
| Option | What you enter | $500,000 home |
|---|---|---|
| Effective rate (default) | Annual tax ÷ market value, e.g. 0.48% | $500,000 × 0.48% = $2,400/yr |
| County tax rate | Combined rate from your tax notice; the calculator taxes 55% of the price | $500,000 × 55% × 1.0% (illustrative) = $2,750/yr |
Do not enter a county tax rate in effective mode. It would tax the full price and overstate your bill by about 80%. Your county assessor’s valuation notice (late July) shows your taxable value and rate.
Mortgage Calculator Utah — Worked PITI for a $540,000 Home in 2026
Concrete example under current Utah market conditions. Assume a $540,000 median-priced home, 20% down ($108,000), $432,000 loan at 6.8% (30-year fixed), 0.48% property tax, and $1,500/year homeowners insurance. Monthly principal & interest is approximately $2,816; property tax adds $216/month; insurance adds $125/month. Total PITI ≈ $3,157/month — no PMI at the 20% threshold. Over the full 30-year term, interest paid totals roughly $581,760, so the true cost of a $432,000 loan is $1,013,760. Cross-check the base rate against the Freddie Mac Primary Mortgage Market Survey (PMMS) for the current national 30-year fixed benchmark before locking with your Utah lender. For county-specific millage detail, see the Utah State Tax Commission property tax division.
Source: Freddie Mac PMMS (national 30-year fixed benchmark) + Utah State Tax Commission property-tax methodology.
Last updated: October 2026
Frequently Asked Questions
What is the average mortgage rate in Utah in 2026?
Utah mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year average, then enter the rate a lender quotes you. Rates vary by lender, credit score, and loan type.
What is the average monthly mortgage payment in Utah?
For a $540,000 home with 20% down in Utah, the estimated PITI (principal, interest, taxes, and insurance) is approximately $3,157/month at 6.8%.
Do I need PMI in Utah?
Yes — if your down payment on a conventional loan is less than 20%, lenders in Utah require Private Mortgage Insurance (PMI). Freddie Mac estimates PMI at roughly $30 to $70 per month for every $100,000 borrowed (about 0.36%–0.84% of the loan per year), depending on credit score and down payment. PMI is removed once you reach 20% equity.
What is the average home price in Utah?
The median home price in Utah is approximately $540,000 in 2026, based on recent market data. Prices vary significantly by city and county.
What is the property tax rate in Utah?
Utah's effective property tax rate is approximately 0.48% (Tax Foundation, 2026 edition, Census data for 2020-2024), which translates to roughly $2,592 per year on a $540,000 home. County-level assessment ratios and municipal rates set the exact bill — verify with the Utah State Tax Commission property tax division for your county.
How much house can I afford in Utah on a $100,000 salary?
Applying the 28% front-end rule (housing cost ≤ 28% of gross monthly income), a $100,000/year Utah earner can support roughly $2,333/month PITI. At the 6.8% 2026 Utah rate with 20% down and 0.48% property tax, that supports a home price of about $393,000. Utah Housing Corporation FirstHome and HomeAgain buyers can stretch further with down-payment assistance loans.
Is it worth refinancing a Utah mortgage in 2026?
Refinancing makes sense in Utah when the rate drop is at least 0.75 percentage points AND you plan to stay in the home long enough to recover closing costs (typically 24–36 months). At a $432,000 loan, a 1% rate drop (6.8% → 5.8%) saves ~$275/month; typical Utah closing costs of $8,640 recover in 32 months. Track the Freddie Mac PMMS weekly and lock when the 30-year fixed hits your break-even rate.
Does Utah have a real estate transfer tax?
No. Utah has no state or local real estate transfer tax, so buyers and sellers pay no percentage-of-price tax when a home changes hands. The county recorder charges a flat $40 fee to record each document, such as the deed or the deed of trust (Utah Code 17-21-18.5).
How does the 45% residential exemption affect Utah property tax?
Under Utah Code 59-2-103, a primary residence is taxed on only 55% of its market value. If your local tax rate is 1.0%, a $500,000 home is taxed on $275,000, so the bill is $2,750 a year — an effective rate of 0.55% of market value. Second homes and vacation rentals do not get the exemption. Choose the county tax rate option in the calculator to apply it automatically.