Monthly Payment on a $200K Mortgage in Utah
Using Utah's 0.58% property tax rate and $1,200/yr homeowners insurance.
$200K 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% | $1,386 | $1,324 | $1,105 |
| 6.0% | $1,447 | $1,381 | $1,156 |
| 6.5% | $1,508 | $1,439 | $1,208 |
| 7.0% | $1,572 | $1,499 | $1,261 |
| 7.5% | $1,636 | $1,560 | $1,315 |
| 8.0% | $1,702 | $1,622 | $1,371 |
How This Compares to Utah's Median
A $200K home is 58% below Utah's median of $480K. This is well within reach in many Utah communities.
Income Needed for a $200K Home in Utah
To afford this payment of $1,439/mo in Utah, you'd need a household income of approximately $62K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $60K salary can afford →Closing Costs in Utah
Estimated closing costs in Utah: $3K (1.3% of purchase price). Utah has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $200K Mortgage in Utah
With 10% down ($20,000), your loan of $180,000 at 6.5% over 30 years produces a principal and interest payment of $1,138/mo. Adding Utah's 0.58% property tax ($97/mo) and $1,200/yr insurance ($100/mo) brings your total to $1,439/mo. Because you're putting less than 20% down, PMI adds $105/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $229,580 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $21,536 over the life of the loan.