Mortgage Rates in Draper, Utah — March 2026
Updated March 2026 | Based on Draper market data and regional lending conditions
Draper is a growing city in Utah with a population of 51,017. The current 30-year fixed mortgage rate in Draper is 6.68%, which is 0.03% above the national average. With a median home price of $595,000 and a 20% down payment of $119,000, homebuyers can expect a monthly principal and interest payment of approximately $3,065.
Current Mortgage Rates in Draper, UT
Below are the current average mortgage rates available in the Draper area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.68% | 6.65% | +0.03% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.28% | 6.25% | +0.03% |
| VA | 6.08% | 6.05% | +0.03% |
| Jumbo | 6.88% | 6.85% | +0.03% |
Draper Housing Market Overview
The Draper housing market is competitive with prices well above the national median. The median household income in Draper is $108,250, and the cost of living index is 108.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $143,700 to comfortably afford the median-priced home in Draper, which exceeds the current median household income.
Monthly Payment Breakdown for Draper
Based on the median home price of $595,000 with 20% down ($119,000), here is what you can expect to pay monthly in Draper:
15-Year vs. 30-Year Mortgage in Draper
Choosing a 15-year mortgage in Draper at 5.92% instead of a 30-year at 6.68% would save you $384,120 in total interest over the life of the loan. However, your monthly payment would be $3,996 instead of $3,065 — an increase of $931 per month.
Calculate Your Draper Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Draper
What are the current mortgage rates in Draper, UT?
As of March 2026, the average 30-year fixed mortgage rate in Draper, Utah is 6.68%, while the 15-year fixed rate is 5.92%. FHA loans average 6.28% and VA loans 6.08%. These rates are 0.03% above the national average of 6.65%.
How much is a monthly mortgage payment in Draper?
Based on the median home price of $595,000 with 20% down, the estimated monthly mortgage payment in Draper is $3,065 for principal and interest. Including property taxes of $288/month, the total monthly housing cost is approximately $3,353.
What income do I need to buy a home in Draper?
Using the 28% rule, you would need an annual income of approximately $143,700 to afford the median-priced home in Draper at $595,000. The median household income in Draper is $108,250. This means most households would need to either earn above the median or consider homes below $595,000.
Is Draper a good place to buy a home in 2026?
Draper has a moderate cost of living with a cost of living index of 108.5 (national average = 100). The property tax rate in Utah is 0.58%, which is below the national average. Draper has a population of 51,017 and offers a balanced lifestyle.
Mortgage Rates in Other Utah Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Draper, Utah area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.