Monthly Payment on a $600K Mortgage in Utah
Using Utah's 0.58% property tax rate and $1,200/yr homeowners insurance.
$600K 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% | $3,959 | $3,771 | $3,115 |
| 6.0% | $4,140 | $3,943 | $3,268 |
| 6.5% | $4,325 | $4,118 | $3,424 |
| 7.0% | $4,515 | $4,298 | $3,583 |
| 7.5% | $4,708 | $4,481 | $3,746 |
| 8.0% | $4,905 | $4,667 | $3,912 |
How This Compares to Utah's Median
A $600K home is 25% above Utah's median of $480K. This puts you in the upper range of the Utah market, targeting more desirable neighborhoods or larger properties.
Income Needed for a $600K Home in Utah
To afford this payment of $4,118/mo in Utah, you'd need a household income of approximately $176K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $175K salary can afford →Closing Costs in Utah
Estimated closing costs in Utah: $8K (1.3% of purchase price). Utah has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $600K Mortgage in Utah
With 10% down ($60,000), your loan of $540,000 at 6.5% over 30 years produces a principal and interest payment of $3,413/mo. Adding Utah's 0.58% property tax ($290/mo) and $1,200/yr insurance ($100/mo) brings your total to $4,118/mo. Because you're putting less than 20% down, PMI adds $315/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $688,740 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $64,608 over the life of the loan.