Utah Mortgage Calculator

This mortgage calculator can be used to figure out monthly payments of a home loan based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

Purchase & Financing Information
Sale Price of Home:	(In Dollars)
Percentage Down:	%
Length of Mortgage:	years
Annual Interest Rate:	%
Explain Calculations:	Show me the calculations and amortization
	Start Over
Mortgage Payment Information
Down Payment:	$20,996.50
Amount Financed:	$578,903.50
Monthly Payment:	$3,286.95 (Principal & Interest ONLY)
	Since you are putting LESS than 20% down, you will need to pay PMI (Private Mortgage Insurance), which tends to be about $74 per month for every $100,000 financed (until you have paid off 20% of your loan). This could add $428.39 to your monthly payment.
Monthly Payment:	$3,715.34 (Principal & Interest, and PMI)
	The average Residential (or Property) Tax rate in Utah is approximately $9 per year for every $1,000 of your property's assessed value. Let's say that your property's assessed value is 85% of what you actually paid for it - $509915 This would mean that your yearly residential taxes will be around $4589.235. This could add $382.44 to your monthly payment.
TOTAL Monthly Payment:	$4,097.78 (including PMI and residential tax)

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FHA/VA	4.750% APR
15 Year Fixed	4.250% APR
30 Year Fixed	4.875% APR

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