Interest Rate | Payment |
---|---|
3.250% | $3,081 |
3.375% | $3,130 |
3.500% | $3,179 |
3.625% | $3,229 |
3.750% | $3,279 |
3.875% | $3,329 |
4.000% | $3,380 |
4.125% | $3,431 |
4.250% | $3,483 |
% Down | Amount | Payment |
---|---|---|
3.5% | $30,975 | $3,955 |
5.0% | $44,250 | $3,894 |
7.5% | $66,375 | $3,791 |
10% | $88,500 | $3,689 |
15% | $132,750 | $3,484 |
20% | $177,000 | $3,279 |
25% | $221,250 | $3,074 |
30% | $265,500 | $2,869 |
50% | $442,500 | $2,049 |
Length | Payment |
---|---|
10 years | $7,084 |
15 years | $5,149 |
20 years | $4,198 |
30 years | $3,279 |
40 years | $2,850 |
Interest only | $2,213 |
Mortgage Tips
Can I afford a $885,000 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 $885,000 with a 3.75% loan:
% Down | Down Payment | Income Required |
---|---|---|
3.5% | $30,975 | $232,720 |
5.0% | $44,250 | $230,085 |
7.5% | $66,375 | $225,693 |
10% | $88,500 | $221,302 |
15% | $132,750 | $212,519 |
20% | $177,000 | $203,737 |
25% | $221,250 | $194,954 |
30% | $265,500 | $186,171 |
50% | $442,500 | $151,041 |
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 |