Mortgage Rates in Herriman, Utah — March 2026
Updated March 2026 | Based on Herriman market data and regional lending conditions
Herriman is a growing city in Utah with a population of 55,144. The current 30-year fixed mortgage rate in Herriman is 6.88%, which is 0.23% above the national average. With a median home price of $492,000 and a 20% down payment of $98,400, homebuyers can expect a monthly principal and interest payment of approximately $2,587.
Current Mortgage Rates in Herriman, UT
Below are the current average mortgage rates available in the Herriman 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 | 6.88% | 6.65% | +0.23% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.33% | 6.15% | +0.18% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.13% | 6.85% | +0.28% |
Herriman Housing Market Overview
The Herriman housing market reflects moderate demand with prices near the national average. The median household income in Herriman is $82,400, and the cost of living index is 104.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $120,729 to comfortably afford the median-priced home in Herriman, which exceeds the current median household income.
Monthly Payment Breakdown for Herriman
Based on the median home price of $492,000 with 20% down ($98,400), here is what you can expect to pay monthly in Herriman:
15-Year vs. 30-Year Mortgage in Herriman
Choosing a 15-year mortgage in Herriman at 6.09% instead of a 30-year at 6.88% would save you $329,940 in total interest over the life of the loan. However, your monthly payment would be $3,341 instead of $2,587 — an increase of $754 per month.
Calculate Your Herriman 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 Herriman
What are the current mortgage rates in Herriman, UT?
As of March 2026, the average 30-year fixed mortgage rate in Herriman, Utah is 6.88%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.23% above the national average of 6.65%.
How much is a monthly mortgage payment in Herriman?
Based on the median home price of $492,000 with 20% down, the estimated monthly mortgage payment in Herriman is $2,587 for principal and interest. Including property taxes of $230/month, the total monthly housing cost is approximately $2,817.
What income do I need to buy a home in Herriman?
Using the 28% rule, you would need an annual income of approximately $120,729 to afford the median-priced home in Herriman at $492,000. The median household income in Herriman is $82,400. This means most households would need to either earn above the median or consider homes below $492,000.
Is Herriman a good place to buy a home in 2026?
Herriman has a moderate cost of living with a cost of living index of 104.3 (national average = 100). The property tax rate in Utah is 0.56%, which is below the national average. Herriman has a population of 55,144 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 Herriman, Utah area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.