Monthly Payment on a $900K Mortgage in Utah
Using Utah's 0.58% property tax rate and $1,200/yr homeowners insurance.
$900K 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% | $5,888 | $5,607 | $4,623 |
| 6.0% | $6,160 | $5,864 | $4,852 |
| 6.5% | $6,438 | $6,127 | $5,086 |
| 7.0% | $6,722 | $6,396 | $5,325 |
| 7.5% | $7,012 | $6,671 | $5,569 |
| 8.0% | $7,307 | $6,951 | $5,818 |
How This Compares to Utah's Median
A $900K home is 88% 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 $900K Home in Utah
To afford this payment of $6,127/mo in Utah, you'd need a household income of approximately $263K/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: $12K (1.3% of purchase price). Utah has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $900K Mortgage in Utah
With 10% down ($90,000), your loan of $810,000 at 6.5% over 30 years produces a principal and interest payment of $5,120/mo. Adding Utah's 0.58% property tax ($435/mo) and $1,200/yr insurance ($100/mo) brings your total to $6,127/mo. Because you're putting less than 20% down, PMI adds $473/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $1,033,110 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $96,912 over the life of the loan.