How much is a downpayment on a house in Utah?

What is the average house payment in Utah?

Data from the 2018 American Community Survey shows that homeowners paid a median amount of $1,556 per month.

Mortgage payments by state.

State Median monthly home payment
Utah $1,497
Vermont $1,594
Virginia $1,767
Washington $1,826

How much do you need to make to afford a house in Utah?

Utah: $61,840. The median home list price in Utah is $337,500, which is on the higher end compared to other states. As a result, you’ll need to make a minimum of nearly $62,000 to afford the typical home.

How much are closing costs Utah?

According to Bankrate, the average closing cost in Utah is $1,891. However, this does not include all the fees you’ll be responsible for and is a bit of a lowball because of this. In general, buyers should expect to pay between 2% to 5% of the closing price in closing fees.

What is a good salary in Utah?

$3,814 is the 25th percentile. Salaries below this are outliers. $5,702 is the 75th percentile.

What are Top 10 Highest Paying Cities for Average Jobs in Utah.

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City St. George
Annual Salary $53,965
Monthly Pay $4,497
Weekly Pay $1,038
Hourly Wage $25.94

Is it cheaper to live in Utah or Colorado?

Overall, the cost of living in Utah is 2% below the national average while Colorado’s cost of living is higher than 28 other states. … Cities like Colorado Springs and Leadville have a lower cost of living, which are 3% lower than average with median home costs just under $200,000.

What is the mortgage payment on a $150 000 house?

A $150,000 30-year mortgage with a 4% interest rate comes with about a $716 monthly payment. The exact costs will depend on your loan’s term and other details.

How much house can I afford if I make 3000 a month?

If you make $3,000 a month ($36,000 a year), your DTI with an FHA loan should be no more than $1,290 ($3,000 x 0.43) — which means you can afford a house with a monthly payment that is no more than $900 ($3,000 x 0.31). FHA loans typically allow for a lower down payment and credit score if certain requirements are met.

What is a good down payment for a 200k house?

If you’re buying a home for $200,000, in this case, you’ll need $10,000 to secure a home loan. FHA Mortgage. For a government-backed mortgage like an FHA mortgage, the minimum down payment is 3.5%. For a home that costs $200,000, you’ll need to save $7,000 to get a home mortgage loan.

How much house can I afford 70k salary?

According to Brown, you should spend between 28% to 36% of your take-home income on your housing payment. If you make $70,000 a year, your monthly take-home pay, including tax deductions, will be approximately $4,328.

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