Mortgage Payment on a $393,000 House at 8%

What's the payment on a $393,000 house with a a 30-year loan mortgage at 8%? Calculate the monthly mortgage on a house, condo, or apartment which costs $393k.
Home price
$
Percent down
%
78,600
Interest rate
%
Loan term
After a 20% down payment, your loan amount will be $314,400. With a 30-year loan loan at 8% interest:
Monthly payment = $2,307
Total yearly payments = $27,683
Payments by Interest Rate
Interest Rate Payment
8.00 $2,307
8.25 $2,362
8.50 $2,417
8.75 $2,473
8.90 $2,507
8.95 $2,518
8.99 $2,527
Payments by Amount Down
% Down Amount Payment
3.5% $13,755 $2,783
5.0% $19,650 $2,740
7.5% $29,475 $2,667
10% $39,300 $2,595
15% $58,950 $2,451
20% $78,600 $2,307
25% $98,250 $2,163
30% $117,900 $2,019
50% $196,500 $1,442
Payments by Loan Length
Length Payment
10 years $3,815
15 years $3,005
20 years $2,630
30 years $2,307
40 years $2,186
Interest only $2,096
Mortgage Tips
1. Credit score matters
Get a free copy of your credit report to make sure there are no errors which might negatively affect your credit score.
2. Shop around
Make sure to get multiple mortgage quotes. Over 30 years, a difference of 0.25% in APR might end up being over $10,000 in extra payments!
3. Bigger down payments are better.
You can often qualify for a mortgage with as little as 3.5% down. But, unless your down payment is at least 20%, you will likely have to pay Private Mortgage Insurance (PMI). This can add significant cost to the price of the mortgage.
Average House Prices by State
What is the average price for a house or condo in each state of the U.S.?
Source: Zillow, June 2024
State Rank Price
Hawaii 1 $854,669
California 2 $786,730
Massachusetts 3 $634,690
Washington 4 $601,851
Colorado 5 $551,281
New Jersey 6 $534,939
Utah 7 $522,732
Oregon 8 $503,525
New Hampshire 9 $484,742
New York 10 $478,973
Rhode Island 11 $471,357
Montana 12 $470,917
Idaho 13 $460,955
Nevada 14 $443,103
Arizona 15 $434,773
Maryland 16 $422,711
Connecticut 17 $411,272
State Rank Price
Maine 18 $409,785
Vermont 19 $401,965
Florida 20 $398,077
Virginia 21 $396,331
Delaware 22 $391,908
Alaska 23 $364,888
Wyoming 24 $349,461
Minnesota 25 $340,688
North Carolina 26 $335,521
Georgia 27 $334,819
Tennessee 28 $325,653
Wisconsin 29 $311,845
South Dakota 30 $308,977
Texas 31 $308,121
New Mexico 32 $306,014
South Carolina 33 $301,130
Pennsylvania 34 $272,477
State Rank Price
Illinois 35 $270,830
Nebraska 36 $265,435
North Dakota 37 $265,368
Michigan 38 $252,988
Missouri 39 $251,819
Indiana 40 $246,289
Ohio 41 $234,640
Kansas 42 $233,625
Alabama 43 $231,948
Iowa 44 $223,490
Kentucky 45 $211,473
Arkansas 46 $210,379
Oklahoma 47 $209,409
Louisiana 48 $204,007
Mississippi 49 $183,035
West Virginia 50 $169,441