Mortgage Payment on a $329,000 House
What's the payment on a $329,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $329k.
After a 20% down payment, your loan amount will be $263,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,707
Total yearly payments = $20,485
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,413 |
| 5.500% |
$1,494 |
| 6.000% |
$1,578 |
| 6.250% |
$1,621 |
| 6.500% |
$1,664 |
| 6.750% |
$1,707 |
| 6.875% |
$1,729 |
| 7.000% |
$1,751 |
| 7.250% |
$1,795 |
| 7.500% |
$1,840 |
| 7.625% |
$1,863 |
| 7.750% |
$1,886 |
| 8.000% |
$1,931 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$11,515 |
$2,059 |
| 5.0% |
$16,450 |
$2,027 |
| 7.5% |
$24,675 |
$1,974 |
| 10% |
$32,900 |
$1,920 |
| 15% |
$49,350 |
$1,814 |
| 20% |
$65,800 |
$1,707 |
| 25% |
$82,250 |
$1,600 |
| 30% |
$98,700 |
$1,494 |
| 50% |
$164,500 |
$1,067 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$3,022 |
| 15 years |
$2,329 |
| 20 years |
$2,001 |
| 30 years |
$1,707 |
| 40 years |
$1,588 |
| Interest only |
$1,481 |
Can I afford a $329,000 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 $329,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$11,515 |
$111,752 |
| 5.0% |
$16,450 |
$110,380 |
| 7.5% |
$24,675 |
$108,093 |
| 10% |
$32,900 |
$105,807 |
| 15% |
$49,350 |
$101,234 |
| 20% |
$65,800 |
$96,662 |
| 25% |
$82,250 |
$92,089 |
| 30% |
$98,700 |
$87,517 |
| 50% |
$164,500 |
$69,226 |