Mortgage Calculator
Use this free Utah mortgage calculator to estimate your monthly payments, see how much home you can afford, and understand the true cost of homeownership in Utah.
Looking for DPA programs too?
Our First-Time Buyer Calculator includes everything here plus automatic down payment assistance matching.
Enter Your Details
Estimated Costs (Yearly)
Estimated Monthly Payment
How is my monthly payment calculated?
Principal
The amount that actually pays down your outstanding loan balance.
Interest
The cost of borrowing the money, calculated as a percentage of the principal.
Taxes
Local property taxes collected monthly and held in an escrow account.
Insurance
Homeowners insurance to protect the property, also held in escrow.
How to Use This Utah Mortgage Calculator
Our Utah mortgage calculator is designed to give you a realistic estimate of your monthly mortgage payment based on your specific home purchase scenario. Here's how to get the most accurate result:
- Enter your home price — the purchase price of the property you're considering in Utah.
- Set your down payment — enter a dollar amount or percentage. If you put less than 20% down, PMI will be included automatically.
- Adjust the interest rate — use the current market rate or the rate quoted to you by your loan officer.
- Select a loan term — 30-year fixed is the most common, but 15-year and 20-year options are available.
- Review the breakdown — see how your payment splits between principal, interest, taxes, insurance, and PMI.
For a personalized, rate-locked quote based on your credit profile and the specific property, contact The Tim Hawkes Team or apply online.
Utah-Specific Defaults
This mortgage calculator uses defaults tailored to Utah homebuyers so your estimate is as accurate as possible out of the box:
Property Tax: 0.58%
Utah's average effective property tax rate is approximately 0.58% — well below the national average of about 1.1%. Rates vary by county, so adjust this if you know your local rate.
Homeowners Insurance: 0.35%
The typical Utah homeowners insurance premium runs about 0.35% of the home's value annually. Your actual premium depends on coverage level, deductible, and location within the state.
These defaults are estimates. Your actual costs may differ based on your county, property type, and insurance carrier. First-time buyers in Utah may also qualify for down payment assistance — learn about first-time buyer programs.
Need More Detail?
Explore our other free calculators to dive deeper into your home financing options:
First-Time Buyer Calculator
Includes everything here plus automatic Utah down payment assistance matching for eligible buyers.
How Much Home Can I Afford?
Calculate how much home you can afford based on your income, debts, and down payment.
Refinance Break-Even Calculator
Find out how long it takes to break even on a refinance. Compare your current payment to a new loan.
Utah Mortgage Calculator FAQ
How accurate is this Utah mortgage calculator?
This calculator provides a close estimate based on the information you enter. It uses Utah-specific defaults for property taxes (0.58%) and homeowners insurance (0.35%). For an exact payment quote based on today's rates and your credit profile, contact The Tim Hawkes Team at (801) 820-7620.
What property tax rate does Utah use?
Utah's average effective property tax rate is approximately 0.58% of the home's assessed value, lower than the national average. Rates vary by county — Davis, Salt Lake, and Weber counties each have slightly different rates. You can adjust the default in the calculator to match your specific county.
Does this calculator include PMI?
Yes. If your down payment is less than 20%, the calculator automatically estimates private mortgage insurance (PMI) and includes it in your monthly payment. PMI typically ranges from 0.3% to 1.5% of the original loan amount per year.
How much house can I afford in Utah?
That depends on your income, debts, down payment, interest rate, and local property taxes. A common guideline is keeping total housing costs below 28%–36% of gross monthly income. Try our Affordability Calculator for a detailed estimate tailored to your finances.
What are current mortgage rates in Utah?
Mortgage rates in Utah change daily based on market conditions, your credit score, down payment, and loan type. The Tim Hawkes Team can provide a personalized rate quote — call (801) 820-7620 or apply online.
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Calculators are great for estimates, but every situation is unique. Let's get you a tailored quote with today's exact rates.
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