Monthly Payment on a $150K Mortgage in Utah
Using Utah's 0.58% property tax rate and $1,200/yr homeowners insurance.
$150K Mortgage in Utah: Rate Comparison
Monthly PITI payment using Utah's 0.58% property tax and $1,200/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $1,065 | $1,018 | $854 |
| 6.0% | $1,110 | $1,061 | $892 |
| 6.5% | $1,156 | $1,105 | $931 |
| 7.0% | $1,204 | $1,149 | $971 |
| 7.5% | $1,252 | $1,195 | $1,012 |
| 8.0% | $1,301 | $1,242 | $1,053 |
How This Compares to Utah's Median
A $150K home is 69% below Utah's median of $480K. This is well within reach in many Utah communities.
Income Needed for a $150K Home in Utah
To afford this payment of $1,105/mo in Utah, you'd need a household income of approximately $47K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $50K salary can afford →Closing Costs in Utah
Estimated closing costs in Utah: $2K (1.3% of purchase price). Utah has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $150K Mortgage in Utah
With 10% down ($15,000), your loan of $135,000 at 6.5% over 30 years produces a principal and interest payment of $853/mo. Adding Utah's 0.58% property tax ($73/mo) and $1,200/yr insurance ($100/mo) brings your total to $1,105/mo. Because you're putting less than 20% down, PMI adds $79/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $172,185 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $16,152 over the life of the loan.