Mortgage Rates in Payson, Utah — March 2026
Updated March 2026 | Based on Payson market data and regional lending conditions
Payson is a growing city in Utah with a population of 21,275. The current 30-year fixed mortgage rate in Payson is 6.72%, which is 0.07% above the national average. With a median home price of $420,000 and a 20% down payment of $84,000, homebuyers can expect a monthly principal and interest payment of approximately $2,173.
Current Mortgage Rates in Payson, UT
Below are the current average mortgage rates available in the Payson 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 | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Payson Housing Market Overview
The Payson housing market reflects moderate demand with prices near the national average. The median household income in Payson is $64,900, and the cost of living index is 92.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $102,300 to comfortably afford the median-priced home in Payson, which exceeds the current median household income.
Monthly Payment Breakdown for Payson
Based on the median home price of $420,000 with 20% down ($84,000), here is what you can expect to pay monthly in Payson:
15-Year vs. 30-Year Mortgage in Payson
Choosing a 15-year mortgage in Payson at 5.96% instead of a 30-year at 6.72% would save you $273,240 in total interest over the life of the loan. However, your monthly payment would be $2,828 instead of $2,173 — an increase of $655 per month.
Calculate Your Payson 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 Payson
What are the current mortgage rates in Payson, UT?
As of March 2026, the average 30-year fixed mortgage rate in Payson, Utah is 6.72%, while the 15-year fixed rate is 5.96%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Payson?
Based on the median home price of $420,000 with 20% down, the estimated monthly mortgage payment in Payson is $2,173 for principal and interest. Including property taxes of $214/month, the total monthly housing cost is approximately $2,387.
What income do I need to buy a home in Payson?
Using the 28% rule, you would need an annual income of approximately $102,300 to afford the median-priced home in Payson at $420,000. The median household income in Payson is $64,900. This means most households would need to either earn above the median or consider homes below $420,000.
Is Payson a good place to buy a home in 2026?
Payson offers a below-average cost of living with a cost of living index of 92.1 (national average = 100). The property tax rate in Utah is 0.61%, which is below the national average. Payson has a population of 21,275 and offers a very affordable 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 Payson, Utah area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.