Utah First-Time Homebuyer Calculator
First-time homebuyer costs in Utah: $16,450 FHA down payment, $10,810 closing costs, 0.63% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Utah. Includes down payment, closing costs (2.3%), PMI (required below 20% down), property tax (0.63%), and homeowners insurance ($1,200/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Utah homebuyer facts: Median price $470,000 | 20% down = $94,000 | FHA 3.5% down = $16,450 | Closing costs ~$10,810 | Property tax 0.63% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Utah?
For Utah's median home ($470,000): FHA minimum down payment is $16,450 (3.5%), plus $10,810 in closing costs. Total minimum: ~$27,260. With 20% down to avoid PMI: ~$104,810.
What are closing costs in Utah?
Utah closing costs average 2.3% of the home price, or about $10,810 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0%.
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