Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Salt Lake City mortgage calculator
A median-priced Salt Lake City, UT home at 6.75% over 30 years, with Utah property tax of 0.55% and $1,300 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$4,120 a month, all in
Principal and interest are $3,491; escrow and PMI add the rest. Over the full term the loan costs $718,472 in interest. Discounted at 5%, buying here has a net present value of $-27,104 ($302,630 in today’s dollars).
Within Utah, Salt Lake City is 2nd of the 5 Utah markets covered here, between St. George at the top and Ogden at the bottom of a 1.41x spread. A state-level median hides most of that.
The price-to-rent ratio here is 24.1 ($598,000 to buy, $2,070 a month to rent), which is high. Renting and investing the deposit is a genuine alternative in Salt Lake City, not a fallback position.
Salt Lake City carries a premium over the rest of Utah: a median home here runs $598,000, about 15% above the state median of $520,000. The deposit moves with it, so the same 20% down is $119,600 rather than $104,000.
Monthly cost in Salt Lake City vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $598,000 |
|---|---|
| Down payment (10%) | $59,800 |
| Loan amount | $538,200 |
| Principal & interest | $3,491/mo |
| Property tax (0.55%) | $274/mo |
| Homeowners insurance | $108/mo |
| PMI while above 80% LTV | $247/mo |
| Total monthly payment | $4,120/mo |
| Comparable rent | $2,070/mo |
What a rate move does to the Salt Lake City payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $3,056/mo |
| 6% | $3,227/mo |
| 6.5% | $3,402/mo |
| 7% | $3,581/mo |
| 7.5% | $3,763/mo |
| 8% | $3,949/mo |
Rent or buy in Salt Lake City?
Against $2,070 a month in rent, over 7 years renting leaves you about $136,306 better off — $114,670 once 2.5% inflation is stripped out. See the Utah rent-vs-buy page.
Where these numbers come from
Utah medians come from editorial and are refreshed weekly. The Salt Lake City figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.