$677,500 House at 3.75%

What's the monthly mortgage payment on a $677.5k house? Loan price for a $677,500 house with a 3.75% interest rate.
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Monthly payment = $2,510
Total yearly payments = $30,121
Payments by Interest Rate
Interest Rate Payment
3.250% $2,359
3.375% $2,396
3.500% $2,434
3.625% $2,472
3.750% $2,510
3.875% $2,549
4.000% $2,588
4.125% $2,627
4.250% $2,666
Payments by Amount Down
% Down Amount Payment
3.5% $23,713 $3,028
5.0% $33,875 $2,981
7.5% $50,813 $2,902
10% $67,750 $2,824
15% $101,625 $2,667
20% $135,500 $2,510
25% $169,375 $2,353
30% $203,250 $2,196
50% $338,750 $1,569
Payments by Loan Length
Length Payment
10 years $5,423
15 years $3,942
20 years $3,213
30 years $2,510
40 years $2,182
Interest only $1,694

Mortgage Tips

  • Credit score matters. Get a free copy of your credit report to make sure there are no errors which might negatively affect your credit score.
  • Shop around. Make sure to get multiple mortgage quotes. Over 30 years, a difference of 0.25% in APR might end up being over $10,000 in extra payments!
  • Bigger down payments are better. You can often qualify for a mortgage with as little as 3.5% down. But, unless your down payment is at least 20%, you will likely have to pay Private Mortgage Insurance (PMI). This can add significant cost to the price of the mortgage.

Can I afford a $677,500 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 $677,500 with a 3.75% loan:

% Down Down Payment Income Required
3.5% $23,713 $178,155
5.0% $33,875 $176,138
7.5% $50,813 $172,777
10% $67,750 $169,415
15% $101,625 $162,691
20% $135,500 $155,968
25% $169,375 $149,245
30% $203,250 $142,521
50% $338,750 $115,627
Average House Prices by State
What is the average price for a house or condo in each state of the U.S.?
Source: Zillow, March 2020
State Rank Price
Alabama 46 $143,100
Alaska 13 $300,100
Arizona 18 $277,600
Arkansas 48 $130,900
California 2 $578,300
Colorado 5 $408,800
Connecticut 21 $259,900
Delaware 22 $257,500
Florida 24 $252,300
Georgia 31 $206,800
Hawaii 1 $642,500
Idaho 15 $298,300
Illinois 32 $204,800
Indiana 41 $158,700
Iowa 42 $154,700
Kansas 43 $153,900
Kentucky 45 $150,000
State Rank Price
Louisiana 39 $170,400
Maine 25 $249,600
Maryland 10 $313,000
Massachusetts 3 $433,900
Michigan 38 $177,000
Minnesota 19 $263,700
Mississippi 49 $127,500
Missouri 40 $165,700
Montana 17 $288,900
Nebraska 37 $178,900
Nevada 11 $309,700
New Hampshire 14 $299,300
New Jersey 8 $342,500
New Mexico 28 $210,100
New York 9 $328,700
North Carolina 30 $208,000
North Dakota 26 $237,500
State Rank Price
Ohio 44 $153,600
Oklahoma 47 $132,500
Oregon 6 $372,900
Pennsylvania 34 $198,400
Rhode Island 12 $308,700
South Carolina 36 $190,600
South Dakota 29 $209,700
Tennessee 35 $192,600
Texas 27 $211,200
Utah 7 $355,500
Vermont 20 $261,300
Virginia 16 $291,000
Washington 4 $428,900
West Virginia 50 $107,100
Wisconsin 33 $202,700
Wyoming 23 $256,100