Monthly Payment on a $750K Mortgage in Utah
Using Utah's 0.58% property tax rate and $1,200/yr homeowners insurance.
$750K 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% | $4,924 | $4,689 | $3,869 |
| 6.0% | $5,150 | $4,903 | $4,060 |
| 6.5% | $5,382 | $5,123 | $4,255 |
| 7.0% | $5,618 | $5,347 | $4,454 |
| 7.5% | $5,860 | $5,576 | $4,658 |
| 8.0% | $6,106 | $5,809 | $4,865 |
How This Compares to Utah's Median
A $750K home is 56% 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 $750K Home in Utah
To afford this payment of $5,123/mo in Utah, you'd need a household income of approximately $220K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $200K 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 $750K Mortgage in Utah
With 10% down ($75,000), your loan of $675,000 at 6.5% over 30 years produces a principal and interest payment of $4,266/mo. Adding Utah's 0.58% property tax ($362/mo) and $1,200/yr insurance ($100/mo) brings your total to $5,123/mo. Because you're putting less than 20% down, PMI adds $394/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $860,925 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $80,760 over the life of the loan.