PMI Removal in Sandy, UT 84070

Sandy property data

$693,170

Average Sandy home value

$378

Per square foot in Sandy

1,835

Average building sqft

28,194

Valued parcels in Sandy

Source: Salt Lake County public GIS assessor records for Sandy, computed 2026-09-04.

At $693,170, the average Sandy home is 10% above the Salt Lake County average of $628,256, ranking 4 of 13 cities EquityUp tracks in the county.

Put 10% down on a home at that price and you start with a $623,853 loan at 90% LTV, which carries roughly $442/month in PMI at a mid-range 0.85% annual rate, about $5,304 a year. Reaching the 80% threshold where you can demand cancellation takes $69,317 of combined paydown and appreciation on a Sandy home of average value.

How PMI removal works in Sandy

Under the federal Homeowners Protection Act, a Sandy homeowner can request cancellation of private mortgage insurance once their loan-to-value ratio reaches the applicable threshold. Which threshold applies depends on the basis:

Original value. Cancellation can be requested at 80% LTV (12 U.S.C. §4902(a)); the servicer must terminate PMI automatically at 78% (12 U.S.C. §4902(b)).
Current value — the appreciation path. 75% LTV if the loan is under 5 years old (12 U.S.C. §4902(a)(3)(A)); 80% at 5 years or older (12 U.S.C. §4902(a)(3)(B)).

The appreciation path is measured against what the property is worth now, so it can carry a Sandy homeowner across the threshold ahead of the amortization schedule.

EquityUp reads the specific parcel's assessed value from Salt Lake County records, calculates the current loan-to-value ratio, and on the paid tiers prepares the written request the homeowner submits to their own servicer, which must respond within 30 days.

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Learn more about the EquityUp PMI removal process →

Frequently asked questions

What is the average home value in Sandy, UT 84070?

Based on current Salt Lake County assessor records, the average residential property value in Sandy is approximately $693,170, with an average building size of 1,835 sqft across 28,194 valued parcels. EquityUp uses this public data to calculate a homeowner's current loan-to-value ratio at no cost.

How much is PMI on a typical Sandy home?

On an average Sandy home at $693,170, a buyer who put 10% down carries a $623,853 loan. At a mid-range 0.85% annual PMI rate that is about $442 a month, or $5,304 a year. Reaching the 80% loan-to-value mark takes $69,317 of combined paydown and appreciation. An individual rate depends on credit score, down payment and loan size.

How do I remove PMI on my Sandy home?

Under the federal Homeowners Protection Act, a Sandy, Utah homeowner can request PMI cancellation once their loan-to-value ratio reaches the applicable threshold: 75% on the appreciation path for a loan under 5 years old, 80% at 5 years or older. EquityUp calculates that ratio from Salt Lake County assessor records and, on the paid tiers, prepares the written request the homeowner submits to their own servicer, which must respond within 30 days.

Does EquityUp serve homeowners in 84070?

Yes. EquityUp serves all of Salt Lake County, including Sandy (84070). The free LTV audit uses publicly available county assessor records, with no appraisal required to get started.

How much does a PMI appraisal cost in Sandy, Utah?

A lender-ordered appraisal to support a PMI removal request in Sandy, Utah typically costs between $300 and $650, depending on whether the servicer requires a full URAR appraisal or accepts a broker price opinion (BPO). Before paying for either, EquityUp calculates a Sandy homeowner's current loan-to-value ratio at no cost from public Salt Lake County assessor records. Under the Homeowners Protection Act, the appreciation-path threshold is 75% LTV for a loan under 5 years old and 80% at 5 years or older.

Sources and limitations

Last reviewed: 2026-08-15.

EquityUp is a data and document-preparation service. It is not a lender, loan servicer, mortgage broker, or licensed appraiser, it does not provide legal or financial advice, and it does not contact lenders on a homeowner's behalf — the homeowner submits their own request.

Statutory basis

Borrower-requested cancellation at 80% LTV of the property's original value — 12 U.S.C. §4902(a)
Automatic termination at 78% LTV of the property's original value — 12 U.S.C. §4902(b)
Cancellation on current value, loan under 5 years old, at 75% LTV — 12 U.S.C. §4902(a)(3)(A)
Cancellation on current value, loan 5 years or older, at 80% LTV — 12 U.S.C. §4902(a)(3)(B)

What this page does not cover

Coverage is limited to Utah, Salt Lake, Davis, and Weber counties in Utah. Properties outside these four counties are not in the dataset.
County assessed values reflect the assessment cycle and typically lag the market by 12 to 18 months. Where an automated valuation or an FHFA county index adjustment is available, EquityUp applies it and says so in the response; where neither is, the unadjusted assessed value is used.
City-level aggregates are filtered to detached single-family homes using the parcel-record proxy 'HOUSE_CNT = 1 AND BLDG_SQFT BETWEEN 800 AND 5000'. Condominiums, multi-family parcels, and homes outside that square-footage range are excluded.
An LTV figure derived from an assessed or automated value is not an appraisal. A lender or servicer may require its own broker price opinion or appraisal, at the homeowner's expense, before acting on a cancellation request.
Threshold and citation data describe the federal Homeowners Protection Act. Individual loan servicers may impose additional requirements, such as a minimum seasoning period or a clean payment history, that the statute does not.
The Sandy figures above are averages across 28,194 valued single-family parcels, computed from Salt Lake County records on 2026-09-04. They describe the city, not any individual property, and are not a valuation of your home.

The same thresholds and citations are available as JSON at /api/v1/hpa-rules. Documentation: /for-ai-agents.

Nearby cities

Home equity in Midvale, UT 84047 (2 mi from Sandy)
Home equity in Cottonwood Heights, UT 84121 (4 mi from Sandy)
Home equity in Murray, UT 84107 (4 mi from Sandy)
Home equity in Draper, UT 84020 (5 mi from Sandy)

Home Equity and PMI Removal in Sandy, UT 84070