Calculate Your True Monthly Mortgage Payment
Buying a home in Utah involves more than just paying back the loan. To avoid "payment shock," you need to calculate your full PITI (Principal, Interest, Taxes, and Insurance).
- Use THIS Mortgage Calculator if: You have a specific home price in mind (e.g., "$600,000") and want to see what the monthly payment will be.
- Use the Affordability Calculator if: You know your monthly budget (e.g., "$3,000/month") and want to find out the maximum home price you can buy.
- Click "Advanced": You must click the "Advanced" link in the calculator below to enter HOA Fees (common in Daybreak or condos) and verify the Property Tax (approx 0.55% in Utah).
- Check the Rate: Don't use the default! Enter today's interest rate for the most realistic payment estimate.
📚 Mortgage Calculator Help & Definitions (Click to Open)
Down Payment
The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans (like FHA) require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.
Loan Term
Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.
Loan Type
There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans.
• Fixed-rate loans have the same interest rate for the entire duration of the loan. Two benefits to this loan type are stability and being able to calculate your total interest up front.
• Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan and hold that rate for a set number of years before changing.
Interest Rate
This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
Property Tax Rate
The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.
Home Insurance
Home insurance is typically required by lenders. You can edit this number in the mortgage calculator advanced options.
HOA Fees
A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties (like Condos or PUDs) to assist with maintaining and improving properties in the association.
Need a precise quote?
Online calculators are estimates.
Click here to get a custom Loan Estimatefrom a trusted local lender.
Disclaimer: This calculator is provided for educational purposes only. Results are estimates based on the information you provide and do not reflect actual loan terms available at the time of application. Terry Thompson and The Inxellence Group are not mortgage lenders. Taxes and insurance rates vary by property. Please consult a qualified mortgage professional for an official Loan Estimate.