Use Our Utah Housing Loan Calculator to Estimate Your Monthly Payments
Estimate your monthly payment with our exclusive Utah Housing Loan Calculator—built specifically for Utah buyers who qualify for down payment and closing cost assistance. Our tool factors in both your primary (FHA or Conventional) mortgage and the Utah Housing second mortgage, so you can see your true all-in cost.
Why This Calculator Is Unique in Utah
Most mortgage calculators only estimate payments on your first mortgage. Our calculator is the first in Utah to include the Utah Housing second mortgage for down payment and closing cost assistance—giving you the only accurate picture of what you’ll really pay.
- This calculator is built specifically for the Utah Housing program for Utah homebuyers – no more guesswork
Want to compare with a traditional Conventional or FHA loan? Use our Conventional Home Loan Calculator or FHA Loan Calculator to compare.
How to Use the Utah Housing Loan Calculator
- Select either the FHA based or Conventional based Utah Housing program
- Those with higher credit may benefit from lower PMI on the conventional program. We recommend talking with a licensed loan officer to determine which program is best for your scenario.
- The majority of Utah Housing loans originated are FHA.
- Enter Purchase Price
- Adjust your interest rate – Conventional will be about 0.25-0.5% higher than FHA.
- You can find current mortgage rates on Utah Housing’s website
- Automatic Calculations
- Down Payment
- Loan Term
- FHA mortgage insurance
- Second mortgage – based on the max allowable
- Conventional – You’ll need to estimate your PMI. Use our Conventional Home Loan Calculator for information on estimating PMI (or call us to help)
- Enter Annual Taxes, Insurance, and monthly HOA fees (if applicable)
How Utah Housing Loans Work
Utah Housing Corporation programs combine a traditional FHA or Conventional mortgage (your first mortgage) with a low-interest second mortgage to help with your down payment and closing costs.
- First Mortgage: FHA or Conventional with competitive rates
- Second Mortgage: Covers your down payment and closing costs (up to 6% of the first mortgage), with an interest rate 1% over the first mortgage (max 8%)
- One monthly payment – our calculator totals everything for you
Utah Housing Loan Program Benefits & Eligibility
Utah Housing loans are designed to make homeownership accessible for more Utahns.
Key Benefits
- Down Payment and closing cost assistance – up to 6% of the first mortgage
- Available for both first-time and repeat homebuyers
- Low rates for both first and second mortgages
- No prepayment penalties
- Additional Grants and Down Payment Assistance available
Who Qualifies for Utah Housing?
- Must purchase a primary residence in Utah
- Minimum credit score of 620
- Must meet income and purchase price limits (varies by county)
Utah Housing Frequently Asked Questions
What makes this calculator different from others?
It’s the only calculator that combines your first mortgage and Utah Housing second mortgage, using actual program guidelines for a true monthly payment estimate.
Can I use this program for both FHA and Conventional loans?
Yes! Utah Housing offers both FHA and Conventional based loans. However, the down payment assistance must be used with a Utah Housing first mortgage.
How do I pay back the second mortgage?
The second mortgage is included in your monthly payment! The repayment period matches the first mortgage.
What are the eligibility requirements?
Requirements include purchasing a primary home in Utah, meeting credit score and income limits, and qualifying for an FHA or Conventional loan.