Utah Down Payment Calculator 2026 — How Much to Save

Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation

Quick Answer

For the Utah median home price of $490,000, you need: $14,700 for a 3% conventional loan, $17,150 for FHA (3.5%), $49,000 for 10% down (lower PMI), or $98,000 for 20% (no PMI). VA and USDA loans offer 0% down for eligible buyers.

Utah Housing & Mortgage Data

Median Home Price$490,000
30-Year Fixed Rate6.92%(State average, Apr 2026)
Property Tax Rate0.57%(Effective rate)
Avg HO Insurance$1,100/yr ($92/mo)
Typical Down Payment10% ($49,000)
Median Household Income$74,000/yr

Key Facts for Utah

  • ✓Utah median home price is $490,000 as of 2026
  • ✓30-year fixed mortgage rates in Utah average 6.92%
  • ✓Property taxes in Utah are 0.57% — below the national average of 1.10%
  • ✓Homeowners insurance averages $1,100/year in Utah
  • ✓A household earning $122,500/year can typically afford the median Utah home

More Utah Calculators

Mortgage CalculatorMortgage Affordability CalculatorHomeowners Insurance CalculatorProperty Tax Calculator

Frequently Asked Questions — Down Payment Calculator in Utah

Are there down payment assistance programs in Utah?
Yes. Utah offers state-level down payment assistance (DPA) programs through its Housing Finance Agency. Programs typically offer 2–5% of the purchase price as a forgivable grant or low-interest second loan for first-time buyers who meet income and purchase price limits. Search "Utah Housing Finance Agency" for current programs.
Is a 20% down payment required to buy a home in Utah?
No. The 20% down payment is a myth. Conventional loans start at 3% down, FHA loans at 3.5% down, and VA/USDA loans offer 0% down for eligible buyers. The tradeoff: anything below 20% requires PMI on a conventional loan. On a $490,000 home, 20% down is $98,000 vs $14,700 for 3% down.
What is the average mortgage payment in Utah?
The average monthly mortgage payment (principal + interest) in Utah is approximately $2,910 for a $441,000 loan at 6.92% over 30 years. Adding property tax ($233/mo) and homeowners insurance ($92/mo) brings total PITI to about $3,234/month.
What credit score do I need for a mortgage in Utah?
Most Utah lenders require a minimum 620 credit score for conventional loans and 580 for FHA loans (with 3.5% down). For the best rates in Utah, aim for 740+. A higher score can reduce your rate by 0.5–1.0%, saving $66,150 over the life of a 30-year loan.
How much down payment is required to buy a home in Utah?
You can buy a home in Utah with as little as 0% down (VA, USDA loans for eligible buyers), 3% down (conventional), or 3.5% down (FHA). On the Utah median home price of $490,000, a 20% down payment is $98,000 and lets you avoid PMI. Utah also has state-level down payment assistance programs for first-time buyers.
What are current mortgage rates in Utah?
Current 30-year fixed mortgage rates in Utah average 6.92% as of April 2026. 15-year fixed rates are typically 0.5–0.75% lower. Rates vary by lender, credit score, and loan-to-value ratio. Compare at least 3–5 lenders to ensure you get the best Utah mortgage rate.
What is the property tax rate in Utah?
Utah's effective property tax rate is 0.57%. On the Utah median home value of $490,000, annual property taxes are approximately $2,793 ($233/month). Property taxes in Utah are typically escrowed in your monthly mortgage payment.