Mortgage Payment on a $468,000 House
What's the payment on a $468,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $468k.
After a 20% down payment, your loan amount will be $374,400. With a 30-year loan loan at 6.75% interest:
Monthly payment = $2,428
Total yearly payments = $29,140
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$2,010 |
| 5.500% |
$2,126 |
| 6.000% |
$2,245 |
| 6.250% |
$2,305 |
| 6.500% |
$2,366 |
| 6.750% |
$2,428 |
| 6.875% |
$2,460 |
| 7.000% |
$2,491 |
| 7.250% |
$2,554 |
| 7.500% |
$2,618 |
| 7.625% |
$2,650 |
| 7.750% |
$2,682 |
| 8.000% |
$2,747 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$16,380 |
$2,929 |
| 5.0% |
$23,400 |
$2,884 |
| 7.5% |
$35,100 |
$2,808 |
| 10% |
$46,800 |
$2,732 |
| 15% |
$70,200 |
$2,580 |
| 20% |
$93,600 |
$2,428 |
| 25% |
$117,000 |
$2,277 |
| 30% |
$140,400 |
$2,125 |
| 50% |
$234,000 |
$1,518 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$4,299 |
| 15 years |
$3,313 |
| 20 years |
$2,847 |
| 30 years |
$2,428 |
| 40 years |
$2,259 |
| Interest only |
$2,106 |
Can I afford a $468,000 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 $468,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$16,380 |
$158,966 |
| 5.0% |
$23,400 |
$157,014 |
| 7.5% |
$35,100 |
$153,762 |
| 10% |
$46,800 |
$150,510 |
| 15% |
$70,200 |
$144,005 |
| 20% |
$93,600 |
$137,501 |
| 25% |
$117,000 |
$130,996 |
| 30% |
$140,400 |
$124,492 |
| 50% |
$234,000 |
$98,474 |