Down Payment Calculator for Utah

Down Payment Planning in Utah

With a median home value of $470,000 in Utah, here's what different down payment tiers look like:

• 3% (First-time buyer programs): $14,100
• 3.5% (FHA minimum): $16,500
• 10% (Avoid PMI with some lenders): $47,000
• 20% (Eliminate PMI entirely): $94,000

Conforming Loan Limits in Utah

The conforming loan limit in Utah is $726,200. Most Utah counties are at the standard conforming limit. Summit County (Park City) qualifies for higher limits. If your loan exceeds this, you'll need jumbo financing, which typically requires a 20%+ down payment.

Closing Costs to Plan For

Beyond your down payment, budget for closing costs of around $3,100 in Utah. Utah has no transfer tax on residential properties, which significantly reduces closing costs. Title insurance is the primary variable cost component.

Property Tax Impact

Utah's effective property tax rate is 0.52% (average annual bill: $2,191). A larger down payment reduces your monthly mortgage but property taxes remain constant regardless of how much you put down.

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