Mortgage Payment on a $372,000 House
What's the payment on a $372,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $372k.
After a 20% down payment, your loan amount will be $297,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,930
Total yearly payments = $23,163
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,598 |
| 5.500% |
$1,690 |
| 6.000% |
$1,784 |
| 6.250% |
$1,832 |
| 6.500% |
$1,881 |
| 6.750% |
$1,930 |
| 6.875% |
$1,955 |
| 7.000% |
$1,980 |
| 7.250% |
$2,030 |
| 7.500% |
$2,081 |
| 7.625% |
$2,106 |
| 7.750% |
$2,132 |
| 8.000% |
$2,184 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$13,020 |
$2,328 |
| 5.0% |
$18,600 |
$2,292 |
| 7.5% |
$27,900 |
$2,232 |
| 10% |
$37,200 |
$2,172 |
| 15% |
$55,800 |
$2,051 |
| 20% |
$74,400 |
$1,930 |
| 25% |
$93,000 |
$1,810 |
| 30% |
$111,600 |
$1,689 |
| 50% |
$186,000 |
$1,206 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$3,417 |
| 15 years |
$2,633 |
| 20 years |
$2,263 |
| 30 years |
$1,930 |
| 40 years |
$1,796 |
| Interest only |
$1,674 |
Can I afford a $372,000 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 $372,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$13,020 |
$126,357 |
| 5.0% |
$18,600 |
$124,806 |
| 7.5% |
$27,900 |
$122,221 |
| 10% |
$37,200 |
$119,636 |
| 15% |
$55,800 |
$114,466 |
| 20% |
$74,400 |
$109,295 |
| 25% |
$93,000 |
$104,125 |
| 30% |
$111,600 |
$98,955 |
| 50% |
$186,000 |
$78,274 |