Mortgage Payment on a $460,000 House
What's the payment on a $460,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $460k.
After a 20% down payment, your loan amount will be $368,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $2,387
Total yearly payments = $28,642
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,976 |
| 5.500% |
$2,089 |
| 6.000% |
$2,206 |
| 6.250% |
$2,266 |
| 6.500% |
$2,326 |
| 6.750% |
$2,387 |
| 6.875% |
$2,417 |
| 7.000% |
$2,448 |
| 7.250% |
$2,510 |
| 7.500% |
$2,573 |
| 7.625% |
$2,605 |
| 7.750% |
$2,636 |
| 8.000% |
$2,700 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$16,100 |
$2,879 |
| 5.0% |
$23,000 |
$2,834 |
| 7.5% |
$34,500 |
$2,760 |
| 10% |
$46,000 |
$2,685 |
| 15% |
$69,000 |
$2,536 |
| 20% |
$92,000 |
$2,387 |
| 25% |
$115,000 |
$2,238 |
| 30% |
$138,000 |
$2,088 |
| 50% |
$230,000 |
$1,492 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$4,226 |
| 15 years |
$3,256 |
| 20 years |
$2,798 |
| 30 years |
$2,387 |
| 40 years |
$2,220 |
| Interest only |
$2,070 |
Can I afford a $460,000 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 $460,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$16,100 |
$156,248 |
| 5.0% |
$23,000 |
$154,330 |
| 7.5% |
$34,500 |
$151,134 |
| 10% |
$46,000 |
$147,937 |
| 15% |
$69,000 |
$141,544 |
| 20% |
$92,000 |
$135,150 |
| 25% |
$115,000 |
$128,757 |
| 30% |
$138,000 |
$122,364 |
| 50% |
$230,000 |
$96,790 |