Mortgage Rates in Orem, Utah — March 2026
Updated March 2026 | Based on Orem market data and regional lending conditions
Orem is a growing city in Utah with a population of 97,499. The current 30-year fixed mortgage rate in Orem is 6.68%, which is 0.03% above the national average. With a median home price of $415,000 and a 20% down payment of $83,000, homebuyers can expect a monthly principal and interest payment of approximately $2,138.
Current Mortgage Rates in Orem, UT
Below are the current average mortgage rates available in the Orem 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% |
Orem Housing Market Overview
The Orem housing market reflects moderate demand with prices near the national average. The median household income in Orem is $55,250, and the cost of living index is 98.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $100,243 to comfortably afford the median-priced home in Orem, which exceeds the current median household income.
Monthly Payment Breakdown for Orem
Based on the median home price of $415,000 with 20% down ($83,000), here is what you can expect to pay monthly in Orem:
15-Year vs. 30-Year Mortgage in Orem
Choosing a 15-year mortgage in Orem at 5.92% instead of a 30-year at 6.68% would save you $268,020 in total interest over the life of the loan. However, your monthly payment would be $2,787 instead of $2,138 — an increase of $649 per month.
Calculate Your Orem 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 Orem
What are the current mortgage rates in Orem, UT?
As of March 2026, the average 30-year fixed mortgage rate in Orem, 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 Orem?
Based on the median home price of $415,000 with 20% down, the estimated monthly mortgage payment in Orem is $2,138 for principal and interest. Including property taxes of $201/month, the total monthly housing cost is approximately $2,339.
What income do I need to buy a home in Orem?
Using the 28% rule, you would need an annual income of approximately $100,243 to afford the median-priced home in Orem at $415,000. The median household income in Orem is $55,250. This means most households would need to either earn above the median or consider homes below $415,000.
Is Orem a good place to buy a home in 2026?
Orem offers a below-average cost of living with a cost of living index of 98.5 (national average = 100). The property tax rate in Utah is 0.58%, which is below the national average. Orem has a population of 97,499 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 Orem, Utah area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.