Mortgage Payment on a $317,000 House
What's the payment on a $317,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $317k.
After a 20% down payment, your loan amount will be $253,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,645
Total yearly payments = $19,738
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,361 |
| 5.500% |
$1,440 |
| 6.000% |
$1,520 |
| 6.250% |
$1,561 |
| 6.500% |
$1,603 |
| 6.750% |
$1,645 |
| 6.875% |
$1,666 |
| 7.000% |
$1,687 |
| 7.250% |
$1,730 |
| 7.500% |
$1,773 |
| 7.625% |
$1,795 |
| 7.750% |
$1,817 |
| 8.000% |
$1,861 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$11,095 |
$1,984 |
| 5.0% |
$15,850 |
$1,953 |
| 7.5% |
$23,775 |
$1,902 |
| 10% |
$31,700 |
$1,850 |
| 15% |
$47,550 |
$1,748 |
| 20% |
$63,400 |
$1,645 |
| 25% |
$79,250 |
$1,542 |
| 30% |
$95,100 |
$1,439 |
| 50% |
$158,500 |
$1,028 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$2,912 |
| 15 years |
$2,244 |
| 20 years |
$1,928 |
| 30 years |
$1,645 |
| 40 years |
$1,530 |
| Interest only |
$1,427 |
Can I afford a $317,000 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 $317,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$11,095 |
$107,675 |
| 5.0% |
$15,850 |
$106,354 |
| 7.5% |
$23,775 |
$104,151 |
| 10% |
$31,700 |
$101,948 |
| 15% |
$47,550 |
$97,542 |
| 20% |
$63,400 |
$93,136 |
| 25% |
$79,250 |
$88,730 |
| 30% |
$95,100 |
$84,325 |
| 50% |
$158,500 |
$66,701 |