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Salt Lake City

Compare Current Salt Lake City, Utah Mortgage Rates

Compare Salt Lake City, UT mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Salt Lake City.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Salt Lake City. Plus, shopping lenders is free and there is no obligation.

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Salt Lake City, UT Mortgage Rates as of May 25, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.
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Compare Today's Salt Lake City, UT Mortgage Rates

May 25, 2022

Current mortgage rates in Salt Lake City, UT are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Salt Lake City, UT Rates
National
Average
Comparison
30 Year Fixed Rate
%
5.250%
15 Year Fixed Rate
%
4.430%
5/1 Adjustable Rate Mortgage
%
4.080%

How Affordable is Housing in Salt Lake City, Utah?

Below we provide helpful information on the real estate market, home prices and housing affordability in Salt Lake City. Understand how much you need to earn to afford a home in Salt Lake City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Salt Lake City fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Salt Lake City is right for you.

The median home value for Salt Lake City, UT is $497,495

Based on current mortgage rates and a 10% down payment, you need to make $81,512 per year to buy the median priced home in Salt Lake City

With this income, you could qualify for a $447,745 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Salt Lake City is $1,888

The median household income for Salt Lake City, UT is $86,598

Based on this income, you can afford a home valued at approximately $528,535

The home price you can afford to buy based on household income in Salt Lake City is 106% of the median home value which means housing prices are average. Salt Lake City ranks 22 out of 29 counties in Utah and 2,984 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Salt Lake City, UT is average

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Loan Limits for Salt Lake City, Utah

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Salt Lake City below.

Conforming loan limits for Salt Lake City, UT

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Salt Lake City, UT

1 unit: $523,250
2 units: $669,850
3 units: $809,700
4 units: $1,006,250

VA loan limits for Salt Lake City, UT

1 unit: $647,200

Additional Mortgage Resources for Salt Lake City, UT Residents

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