Mortgage Payment on a $376,000 House
What's the payment on a $376,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $376k.
After a 20% down payment, your loan amount will be $300,800. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,951
Total yearly payments = $23,412
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,615 |
| 5.500% |
$1,708 |
| 6.000% |
$1,803 |
| 6.250% |
$1,852 |
| 6.500% |
$1,901 |
| 6.750% |
$1,951 |
| 6.875% |
$1,976 |
| 7.000% |
$2,001 |
| 7.250% |
$2,052 |
| 7.500% |
$2,103 |
| 7.625% |
$2,129 |
| 7.750% |
$2,155 |
| 8.000% |
$2,207 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$13,160 |
$2,353 |
| 5.0% |
$18,800 |
$2,317 |
| 7.5% |
$28,200 |
$2,256 |
| 10% |
$37,600 |
$2,195 |
| 15% |
$56,400 |
$2,073 |
| 20% |
$75,200 |
$1,951 |
| 25% |
$94,000 |
$1,829 |
| 30% |
$112,800 |
$1,707 |
| 50% |
$188,000 |
$1,219 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$3,454 |
| 15 years |
$2,662 |
| 20 years |
$2,287 |
| 30 years |
$1,951 |
| 40 years |
$1,815 |
| Interest only |
$1,692 |
Can I afford a $376,000 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 $376,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$13,160 |
$127,716 |
| 5.0% |
$18,800 |
$126,148 |
| 7.5% |
$28,200 |
$123,535 |
| 10% |
$37,600 |
$120,922 |
| 15% |
$56,400 |
$115,697 |
| 20% |
$75,200 |
$110,471 |
| 25% |
$94,000 |
$105,245 |
| 30% |
$112,800 |
$100,019 |
| 50% |
$188,000 |
$79,116 |