HELOCs in Utah
What a typical Utah home could support, current HELOC rates, and the Utah rules that affect a home equity line, from a lender licensed in Utah.
Reviewed by Shawn Way, NMLS #1007298★ 4.9 from 111 reviewsUpdated
How much can you borrow with a HELOC in Utah?
A typical Utah homeowner could borrow about $171,290 with a HELOC. That assumes the median $489,400 home, half of it still owed and an 85% combined cap. Typical HELOC rates for 720+ credit run about 8.00%–9.75% APR: the prime rate (7.00%) plus a margin. The median line Shawn Way's team funded in Utah since 2023 was $106,000.
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Utah home equity by the numbers
Utah's median owner-occupied home value is $489,400, the 6th highest of the 37 states and districts where Shawn is licensed. Here's what that home could support at an 85% cap, depending on how much is still owed:
| Mortgage balance | Possible line | Interest-only at 7.75% APR, fully drawn |
|---|---|---|
| $122,350 (25% owed) | $293,640 | $1,896 |
| $244,700 (50% owed) | $171,290 | $1,106 |
| $367,050 (75% owed) | $48,940 | $316 |
Median value of owner-occupied housing units, U.S. Census Bureau, American Community Survey 5-year estimates, 2020–2024. Your home's value and your income set your real number: calculate your own line.
At $489,400, many Utah owners have more equity than they need, and a large cash-out refinance can reach jumbo territory. Lines of $150,000 or more are common, so compare lifetime rate caps and rate lock options.
Use a free calculator, or get your HELOC rate from Shawn.
Keeping a low rate: an Utah example
On a typical $489,400 home with $245,000 left on a 3.5% mortgage, borrowing $50,000 with a HELOC instead of a cash-out refinance saves about $228 a month:
| Option | Monthly cost |
|---|---|
| Keep the 3.5% mortgage, add a $50,000 HELOC (7.75% APR, 20-year payoff) | $1,637 |
| Cash-out refinance of $295,000 (6.5% illustrative rate, 30 years) | $1,865 |
Mortgage plus HELOC payments shown together; refinance shown as principal and interest. Run your own numbers.
HELOCs Shawn's team has funded in Utah
Since 2023, loan officers on Shawn Way's team have funded 178 HELOCs on Utah homes, the #15 state for the team. The median line here was $106,000, above the team's median of $92,000 across all states.
| HELOCs funded | 178 |
|---|---|
| Median line | $106,000 |
| Middle half of lines | $69,000 to $156,000 |
| Median home value | $620,000 |
| Median line as a share of home value | 16% |
| Median starting rate, 2026 | 8.20% |
| Fixed-rate share | 78% |
| Borrowers with 720+ credit | 65% |
What HELOC rate do Utah borrowers actually get?
Utah borrowers got a median HELOC starting rate of 8.20% in 2026 on loans Shawn Way's team funded, 0.50 point lower than the team's 8.70% median across all states. 5% of Utah HELOCs were on investment properties, versus 3% overall. The gap reflects the local mix of credit, line sizes and properties, not different pricing.
| Credit score | HELOCs in 2026 | Median starting rate |
|---|---|---|
| 760+ | 16 | 7.65% |
| 720–759 | 11 | 7.80% |
From the team's funding records, with no borrower details. Rates depend on credit, line size and the date funded. Method and the full data: the HELOCHQ HELOC Report.
Owning a home in Utah: what lenders notice
Utah foreclosures are usually nonjudicial under deeds of trust. Values have risen sharply along the Wasatch Front, building equity. Many neighborhoods allow basement apartments and ADUs, which are common HELOC projects. Earthquake insurance is separate from homeowners coverage and not required by lenders.
Utah rules that affect your HELOC
- No separate statewide mortgage tax on our list; recording charges appear on your Loan Estimate.
If payments ever become a problem
Most foreclosures in Utah are nonjudicial, through a trustee's sale without a court case, so timelines are short. If payments get hard, call the lender early. What happens if you can't pay.
Where we lend in Utah
West Capital Lending, Inc. is licensed to lend in Utah. Shawn Way holds Utah Mortgage Loan Originator license #10821370, first issued 05/03/2018. We lend statewide, including Salt Lake City, West Valley City, Provo, St. George and Ogden. Beyond HELOCs we offer purchase and refinance mortgages in Utah: conventional, FHA, VA, USDA, jumbo, self-employed, DSCR, construction and reverse mortgages.
Reviews from Utah borrowers
2 Utah borrowers have reviewed Shawn on Experience.com, averaging 5.00 stars.
- Louis B.Riverton, UT · Sep 2024★5
- Jill C.Saratoga Springs, UT · Aug 2024★5
Names, locations, dates and star ratings from Shawn Way's verified reviews on Experience.com. Read the full reviews (4.9 from 111).
Common questions
Is HELOC interest deductible in Utah?
Yes, HELOC interest can be deductible in Utah under federal rules, but only when the money buys, builds or substantially improves the home and you itemize. Utah taxes income, so ask a preparer how the state treats the deduction. The rules.
Nearby states we lend in: HELOCs in Idaho, HELOCs in Wyoming, HELOCs in Colorado, HELOCs in New Mexico, HELOCs in Arizona.
More: credit score tiers · second homes · rentals.
Sources
Official sources behind this guide.
- What is the difference between a home equity loan and a HELOC? · Consumer Financial Protection Bureau
- What you should know about home equity lines of credit (booklet, PDF) · Consumer Financial Protection Bureau
- Publication 936, Home Mortgage Interest Deduction · Internal Revenue Service
- Bank Prime Loan Rate (DPRIME) · Federal Reserve Bank of St. Louis, FRED
- Regulation Z §1026.40: Requirements for home equity plans · Consumer Financial Protection Bureau
- Regulation Z §1026.15: Right of rescission · Consumer Financial Protection Bureau
- Find a HUD-approved housing counselor · Consumer Financial Protection Bureau