Mortgage Payment on a $328,000 House
What's the payment on a $328,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $328k.
After a 20% down payment, your loan amount will be $262,400. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,702
Total yearly payments = $20,423
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,409 |
| 5.500% |
$1,490 |
| 6.000% |
$1,573 |
| 6.250% |
$1,616 |
| 6.500% |
$1,659 |
| 6.750% |
$1,702 |
| 6.875% |
$1,724 |
| 7.000% |
$1,746 |
| 7.250% |
$1,790 |
| 7.500% |
$1,835 |
| 7.625% |
$1,857 |
| 7.750% |
$1,880 |
| 8.000% |
$1,925 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$11,480 |
$2,053 |
| 5.0% |
$16,400 |
$2,021 |
| 7.5% |
$24,600 |
$1,968 |
| 10% |
$32,800 |
$1,915 |
| 15% |
$49,200 |
$1,808 |
| 20% |
$65,600 |
$1,702 |
| 25% |
$82,000 |
$1,596 |
| 30% |
$98,400 |
$1,489 |
| 50% |
$164,000 |
$1,064 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$3,013 |
| 15 years |
$2,322 |
| 20 years |
$1,995 |
| 30 years |
$1,702 |
| 40 years |
$1,583 |
| Interest only |
$1,476 |
Can I afford a $328,000 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 $328,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$11,480 |
$111,412 |
| 5.0% |
$16,400 |
$110,044 |
| 7.5% |
$24,600 |
$107,765 |
| 10% |
$32,800 |
$105,485 |
| 15% |
$49,200 |
$100,927 |
| 20% |
$65,600 |
$96,368 |
| 25% |
$82,000 |
$91,809 |
| 30% |
$98,400 |
$87,251 |
| 50% |
$164,000 |
$69,016 |