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Summit County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Summit County, Utah based on real HMDA transaction records.

Loan Details

Summit County, UT Benchmarks

FHA averages
Typical Property Value$746,905
Average Down Payment18.1%
Average Interest Rate5.918%
Effective Tax Rate0.32%
Median Tax Paid$3,701/yr
Tax Growth (Historical)+3.5%
Based on 43 regional loans totaling $23,505,000 (HMDA database).
$
%

$135,190 down · $611,715 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$199 / month

$

Annual premium

$

Per month

%

$259 / month

Estimated Monthly Payment

$4,308/mo

  • Principal & Interest$3,700
  • Property Tax$199
  • Home Insurance$150
  • FHA MIP$259
Amortization · Remaining Balance

Financed Loan Amount

$622,420

Total Interest

$709,497

Total of Payments

$1,331,917

*Includes financed FHA Upfront MIP of $10,705

Local Market Insights

Summit County FHA Mortgage Overview

Summit County’s FHA market reveals a strategic entry point for primary residents. The 18.07% down payment ($134,443) exceeds the 3.5% minimum, yet mandatory Mortgage Insurance Premiums (MIP) last the loan’s life—a key tradeoff for sub-620 credit buyers. With an 81.93% loan-to-value ratio, this profile suits those prioritizing low upfront cash over long-term MIP costs. The 0.32% effective property tax rate keeps monthly affordability stable, though the 3.5% inflation-adjusted shift adds ~$7/month on an average $746,905 home. For Summit County FHA loan limits and tax analysis, this data confirms accessible ownership with persistent insurance costs.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.