Interest Rate | Payment |
---|---|
3.250% | $3,386 |
3.375% | $3,440 |
3.500% | $3,494 |
3.625% | $3,548 |
3.750% | $3,603 |
3.875% | $3,658 |
4.000% | $3,714 |
4.125% | $3,771 |
4.250% | $3,827 |
% Down | Amount | Payment |
---|---|---|
3.5% | $34,038 | $4,346 |
5.0% | $48,625 | $4,279 |
7.5% | $72,938 | $4,166 |
10% | $97,250 | $4,053 |
15% | $145,875 | $3,828 |
20% | $194,500 | $3,603 |
25% | $243,125 | $3,378 |
30% | $291,750 | $3,153 |
50% | $486,250 | $2,252 |
Length | Payment |
---|---|
10 years | $7,785 |
15 years | $5,658 |
20 years | $4,613 |
30 years | $3,603 |
40 years | $3,132 |
Interest only | $2,431 |
Mortgage Tips
Can I afford a $972,500 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 $972,500 with a 3.75% loan:
% Down | Down Payment | Income Required |
---|---|---|
3.5% | $34,038 | $255,729 |
5.0% | $48,625 | $252,833 |
7.5% | $72,938 | $248,008 |
10% | $97,250 | $243,182 |
15% | $145,875 | $233,531 |
20% | $194,500 | $223,880 |
25% | $243,125 | $214,229 |
30% | $291,750 | $204,578 |
50% | $486,250 | $165,974 |
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 |