| Interest Rate | Payment |
|---|---|
| 3.250% | $1,636 |
| 3.375% | $1,662 |
| 3.500% | $1,688 |
| 3.625% | $1,715 |
| 3.750% | $1,741 |
| 3.875% | $1,768 |
| 4.000% | $1,795 |
| 4.125% | $1,822 |
| 4.250% | $1,850 |
| % Down | Amount | Payment |
|---|---|---|
| 3.5% | $16,450 | $2,100 |
| 5.0% | $23,500 | $2,068 |
| 7.5% | $35,250 | $2,013 |
| 10% | $47,000 | $1,959 |
| 15% | $70,500 | $1,850 |
| 20% | $94,000 | $1,741 |
| 25% | $117,500 | $1,632 |
| 30% | $141,000 | $1,524 |
| 50% | $235,000 | $1,088 |
| Length | Payment |
|---|---|
| 10 years | $3,762 |
| 15 years | $2,734 |
| 20 years | $2,229 |
| 30 years | $1,741 |
| 40 years | $1,513 |
| Interest only | $1,175 |
Can I afford a $470,000 house?
Traditionally, the "28% rule" means a person should not spend more than 28% of their pre-tax income on total housing costs.
Let's assume that taxes and insurance are 2% of the house price annually. Here's how much you'd have to make to afford a house that costs $470,000 with a 3.75% loan:
| % Down | Down Payment | Income Required |
|---|---|---|
| 3.5% | $16,450 | $123,591 |
| 5.0% | $23,500 | $122,192 |
| 7.5% | $35,250 | $119,860 |
| 10% | $47,000 | $117,528 |
| 15% | $70,500 | $112,863 |
| 20% | $94,000 | $108,199 |
| 25% | $117,500 | $103,535 |
| 30% | $141,000 | $98,871 |
| 50% | $235,000 | $80,214 |