Mortgage Payment on a $276,000 House
What's the payment on a $276,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $276k.
After a 20% down payment, your loan amount will be $220,800. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,432
Total yearly payments = $17,185
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,185 |
| 5.500% |
$1,254 |
| 6.000% |
$1,324 |
| 6.250% |
$1,360 |
| 6.500% |
$1,396 |
| 6.750% |
$1,432 |
| 6.875% |
$1,450 |
| 7.000% |
$1,469 |
| 7.250% |
$1,506 |
| 7.500% |
$1,544 |
| 7.625% |
$1,563 |
| 7.750% |
$1,582 |
| 8.000% |
$1,620 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$9,660 |
$1,727 |
| 5.0% |
$13,800 |
$1,701 |
| 7.5% |
$20,700 |
$1,656 |
| 10% |
$27,600 |
$1,611 |
| 15% |
$41,400 |
$1,522 |
| 20% |
$55,200 |
$1,432 |
| 25% |
$69,000 |
$1,343 |
| 30% |
$82,800 |
$1,253 |
| 50% |
$138,000 |
$895 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$2,535 |
| 15 years |
$1,954 |
| 20 years |
$1,679 |
| 30 years |
$1,432 |
| 40 years |
$1,332 |
| Interest only |
$1,242 |
Can I afford a $276,000 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 $276,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$9,660 |
$93,749 |
| 5.0% |
$13,800 |
$92,598 |
| 7.5% |
$20,700 |
$90,680 |
| 10% |
$27,600 |
$88,762 |
| 15% |
$41,400 |
$84,926 |
| 20% |
$55,200 |
$81,090 |
| 25% |
$69,000 |
$77,254 |
| 30% |
$82,800 |
$73,418 |
| 50% |
$138,000 |
$58,074 |