Utah Home Equity Calculator 2026 — HELOC & Cash-Out Refi
Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation
Quick Answer
If you bought a $490,000 home in Utah with 10% down, your starting equity is $49,000. After 5 years of payments at 6.92%, your equity grows to approximately $71,050 through principal paydown (not counting appreciation). Most lenders allow you to borrow up to 80–85% of your home's value minus your mortgage balance.
Utah Housing & Mortgage Data
| Median Home Price | $490,000 |
| 30-Year Fixed Rate | 6.92%(State average, Apr 2026) |
| Property Tax Rate | 0.57%(Effective rate) |
| Avg HO Insurance | $1,100/yr ($92/mo) |
| Typical Down Payment | 10% ($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
Frequently Asked Questions — Home Equity Calculator in Utah
- How much equity can I borrow in Utah?
- Most Utah lenders allow you to borrow up to 80–85% of your home's appraised value minus your existing mortgage balance (combined loan-to-value of 80–85%). On a $490,000 home with a $343,000 mortgage, you could access up to $49,000–$73,500 via a HELOC or cash-out refinance.
- What is the difference between a HELOC and a cash-out refinance in Utah?
- A HELOC (Home Equity Line of Credit) is a revolving credit line at a variable rate — you draw funds as needed and pay interest only on what you use. A cash-out refinance replaces your entire mortgage with a new, larger loan at a fixed rate, giving you the difference in cash. HELOCs have lower upfront costs but variable rates; cash-out refis have closing costs but lock in your rate.
- 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.