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Tooele

Current Mortgage Rates in Tooele, Utah

Compare mortgage rates and fees for leading lenders in Tooele, UT. 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 lender offering the best mortgage rates in Tooele.

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

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Mortgage Rates in Tooele, UT as of February 24, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Tooele, UT Mortgage Rates Compare?

February 24, 2020

The current average rate for a 30 year fixed rate mortgage in Tooele is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Tooele, UT Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Tooele, Utah?

Below we provide helpful information on the real estate market, home prices and housing affordability in Tooele. Understand how much you need to earn to afford a home in Tooele, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Tooele 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 Tooele is right for you.

The median home value for Tooele, UT is $268,296

Based on current mortgage rates and a 10% down payment, you need to make $48,286 per year to buy the median priced home in Tooele

With this income, you could qualify for a $241,466 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 Tooele is $1,118

The median household income for Tooele, UT is $70,178

Based on this income, you can afford a home valued at approximately $389,934

The home price you can afford to buy based on household income in Tooele is 145% of the median home value which means housing prices are average. Tooele ranks 15 out of 29 counties in Utah and 2,587 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Tooele, UT is average

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Loan Limits for Tooele, Utah

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

Conforming loan limits for Tooele, UT

1 unit: $600,300
2 units: $768,500
3 units: $928,950
4 units: $1,154,450

FHA loan limits for Tooele, UT

1 unit: $416,300
2 units: $532,950
3 units: $644,200
4 units: $800,600

VA loan limits for Tooele, UT

1 unit: $600,300

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