Mortgage Calculator
Estimate your monthly payment and see how much house you can afford.
Understanding Your Salt Lake City Mortgage Payment
What a Mortgage Costs in Salt Lake City Right Now
The median single-family home in Salt Lake County sold for $645,000 in the second quarter of 2026, according to the Salt Lake Board of Realtors. At a 6.5% rate with 12% down, that home works out to roughly $4,400 a month once you add taxes, insurance and PMI. That's the starting point loaded into the calculator above. Rates move week to week (Freddie Mac's 30-year average was 7.4% in early October 2026), so plug in the rate your lender quotes you. Adjust the price, down payment, rate and loan length to see where your own budget lands.
Utah Property Taxes Can Make Your Payment Lower Than You Expect
Utah taxes a primary residence on just 55% of its market value (the 45% primary residential exemption). Because of that, effective property tax rates in Salt Lake County run around 0.6% of a home's value, or roughly $3,900 a year on a $645,000 home. Second homes and rentals are taxed on their full value, so investors should plan for a higher bill. Rates vary by city and school district, so check the Salt Lake County Assessor for a specific address.
Ways to Lower Your Monthly Payment in Utah
- Put 20% down to avoid private mortgage insurance (PMI).
- Look into down payment help. See our guides to Utah first-time homebuyer programs and homebuyer grants.
- Check HOA fees before you fall for a townhome or condo. They count toward what you qualify for.
- Compare at least three lenders. A small rate difference adds up to thousands over a 30-year loan.
- Compare neighborhoods. Prices vary a lot across Salt Lake City, Cottonwood Heights, Sugar House, Millcreek, Sandy and the Wasatch Back (Park City, Heber City).
Mortgage Calculator FAQs
How much house can I afford in Salt Lake City?
Most lenders want your total housing payment under about 28–30% of gross monthly income. At the Q2 2026 median of $645,000 and a 6.41% rate, the Salt Lake Board of Realtors estimated a household needs about $187,000 a year. At today's higher rates, that number is higher. Enter your numbers above for a personalized estimate.
What is the property tax rate in Salt Lake County?
For a primary residence, the effective rate is about 0.6% of market value, because Utah only taxes 55% of a primary home's value. Exact rates depend on the city and school district.
Does this calculator include taxes, insurance, PMI and HOA fees?
Yes. Open "Customize Your Mortgage Payment" to adjust each one and see your full monthly payment.
Does this calculator work for Park City and the Wasatch Back?
Yes. Just adjust the property tax for Summit or Wasatch County, and remember that a second home is taxed on 100% of its value.
Want a Real Number for a Real Home?
A calculator gets you close. A local agent gets you the full picture: HOA dues, actual tax history and what homes in your price range are really selling for. Reach out to Cottonwood Realty Group and we'll walk you through it. Thinking of selling first? Get your home's value here.