| Interest Rate | Payment |
|---|---|
| 3.750% | $926 |
| 3.875% | $940 |
| 4.000% | $955 |
| 4.125% | $969 |
| 4.250% | $984 |
| 4.375% | $999 |
| 4.500% | $1,013 |
| 4.625% | $1,028 |
| 4.750% | $1,043 |
| % Down | Amount | Payment |
|---|---|---|
| 3.5% | $8,750 | $1,187 |
| 5.0% | $12,500 | $1,168 |
| 7.5% | $18,750 | $1,138 |
| 10% | $25,000 | $1,107 |
| 15% | $37,500 | $1,045 |
| 20% | $50,000 | $984 |
| 25% | $62,500 | $922 |
| 30% | $75,000 | $861 |
| 50% | $125,000 | $615 |
| Length | Payment |
|---|---|
| 10 years | $2,049 |
| 15 years | $1,505 |
| 20 years | $1,238 |
| 30 years | $984 |
| 40 years | $867 |
| Interest only | $708 |
Can I afford a $250,000 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 $250,000 with a 4.25% loan:
| % Down | Down Payment | Income Required |
|---|---|---|
| 3.5% | $8,750 | $68,720 |
| 5.0% | $12,500 | $67,930 |
| 7.5% | $18,750 | $66,612 |
| 10% | $25,000 | $65,294 |
| 15% | $37,500 | $62,659 |
| 20% | $50,000 | $60,023 |
| 25% | $62,500 | $57,388 |
| 30% | $75,000 | $54,753 |
| 50% | $125,000 | $44,211 |