Mortgage Payment on a $467,000 House
What's the payment on a $467,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $467k.
After a 20% down payment, your loan amount will be $373,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $2,423
Total yearly payments = $29,078
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$2,006 |
| 5.500% |
$2,121 |
| 6.000% |
$2,240 |
| 6.250% |
$2,300 |
| 6.500% |
$2,361 |
| 6.750% |
$2,423 |
| 6.875% |
$2,454 |
| 7.000% |
$2,486 |
| 7.250% |
$2,549 |
| 7.500% |
$2,612 |
| 7.625% |
$2,644 |
| 7.750% |
$2,677 |
| 8.000% |
$2,741 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$16,345 |
$2,923 |
| 5.0% |
$23,350 |
$2,878 |
| 7.5% |
$35,025 |
$2,802 |
| 10% |
$46,700 |
$2,726 |
| 15% |
$70,050 |
$2,575 |
| 20% |
$93,400 |
$2,423 |
| 25% |
$116,750 |
$2,272 |
| 30% |
$140,100 |
$2,120 |
| 50% |
$233,500 |
$1,514 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$4,290 |
| 15 years |
$3,306 |
| 20 years |
$2,841 |
| 30 years |
$2,423 |
| 40 years |
$2,254 |
| Interest only |
$2,102 |
Can I afford a $467,000 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 $467,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$16,345 |
$158,626 |
| 5.0% |
$23,350 |
$156,679 |
| 7.5% |
$35,025 |
$153,433 |
| 10% |
$46,700 |
$150,188 |
| 15% |
$70,050 |
$143,698 |
| 20% |
$93,400 |
$137,207 |
| 25% |
$116,750 |
$130,716 |
| 30% |
$140,100 |
$124,226 |
| 50% |
$233,500 |
$98,263 |