| Interest Rate | Payment |
|---|---|
| 3.250% | $2,263 |
| 3.375% | $2,299 |
| 3.500% | $2,335 |
| 3.625% | $2,371 |
| 3.750% | $2,408 |
| 3.875% | $2,445 |
| 4.000% | $2,483 |
| 4.125% | $2,520 |
| 4.250% | $2,558 |
| % Down | Amount | Payment |
|---|---|---|
| 3.5% | $22,750 | $2,905 |
| 5.0% | $32,500 | $2,860 |
| 7.5% | $48,750 | $2,784 |
| 10% | $65,000 | $2,709 |
| 15% | $97,500 | $2,559 |
| 20% | $130,000 | $2,408 |
| 25% | $162,500 | $2,258 |
| 30% | $195,000 | $2,107 |
| 50% | $325,000 | $1,505 |
| Length | Payment |
|---|---|
| 10 years | $5,203 |
| 15 years | $3,782 |
| 20 years | $3,083 |
| 30 years | $2,408 |
| 40 years | $2,093 |
| Interest only | $1,625 |
Can I afford a $650,000 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 $650,000 with a 3.75% loan:
| % Down | Down Payment | Income Required |
|---|---|---|
| 3.5% | $22,750 | $170,924 |
| 5.0% | $32,500 | $168,989 |
| 7.5% | $48,750 | $165,764 |
| 10% | $65,000 | $162,538 |
| 15% | $97,500 | $156,088 |
| 20% | $130,000 | $149,637 |
| 25% | $162,500 | $143,187 |
| 30% | $195,000 | $136,736 |
| 50% | $325,000 | $110,934 |