| Interest Rate | Payment |
|---|---|
| 3.500% | $1,581 |
| 3.625% | $1,605 |
| 3.750% | $1,630 |
| 3.875% | $1,655 |
| 4.000% | $1,681 |
| 4.125% | $1,706 |
| 4.250% | $1,732 |
| 4.375% | $1,757 |
| 4.500% | $1,784 |
| % Down | Amount | Payment |
|---|---|---|
| 3.5% | $15,400 | $2,027 |
| 5.0% | $22,000 | $1,996 |
| 7.5% | $33,000 | $1,943 |
| 10% | $44,000 | $1,891 |
| 15% | $66,000 | $1,786 |
| 20% | $88,000 | $1,681 |
| 25% | $110,000 | $1,575 |
| 30% | $132,000 | $1,470 |
| 50% | $220,000 | $1,050 |
| Length | Payment |
|---|---|
| 10 years | $3,564 |
| 15 years | $2,604 |
| 20 years | $2,133 |
| 30 years | $1,681 |
| 40 years | $1,471 |
| Interest only | $1,173 |
Can I afford a $440,000 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 $440,000 with a 4.00% loan:
| % Down | Down Payment | Income Required |
|---|---|---|
| 3.5% | $15,400 | $118,305 |
| 5.0% | $22,000 | $116,954 |
| 7.5% | $33,000 | $114,703 |
| 10% | $44,000 | $112,453 |
| 15% | $66,000 | $107,951 |
| 20% | $88,000 | $103,450 |
| 25% | $110,000 | $98,949 |
| 30% | $132,000 | $94,447 |
| 50% | $220,000 | $76,442 |