Monthly Payment on a $800K Mortgage in Utah
Using Utah's 0.58% property tax rate and $1,200/yr homeowners insurance.
$800K 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% | $5,245 | $4,995 | $4,121 |
| 6.0% | $5,487 | $5,223 | $4,324 |
| 6.5% | $5,734 | $5,458 | $4,532 |
| 7.0% | $5,986 | $5,697 | $4,745 |
| 7.5% | $6,244 | $5,941 | $4,962 |
| 8.0% | $6,507 | $6,190 | $5,183 |
How This Compares to Utah's Median
A $800K home is 67% 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 $800K Home in Utah
To afford this payment of $5,458/mo in Utah, you'd need a household income of approximately $234K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $250K salary can afford →Closing Costs in Utah
Estimated closing costs in Utah: $10K (1.3% of purchase price). Utah has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $800K Mortgage in Utah
With 10% down ($80,000), your loan of $720,000 at 6.5% over 30 years produces a principal and interest payment of $4,551/mo. Adding Utah's 0.58% property tax ($387/mo) and $1,200/yr insurance ($100/mo) brings your total to $5,458/mo. Because you're putting less than 20% down, PMI adds $420/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $918,320 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $86,144 over the life of the loan.