Mortgage Payment on a $676,000 House
What's the payment on a $676,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $676k.
After a 20% down payment, your loan amount will be $540,800. With a 30-year loan loan at 6.75% interest:
Monthly payment = $3,508
Total yearly payments = $42,091
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$2,903 |
| 5.500% |
$3,071 |
| 6.000% |
$3,242 |
| 6.250% |
$3,330 |
| 6.500% |
$3,418 |
| 6.750% |
$3,508 |
| 6.875% |
$3,553 |
| 7.000% |
$3,598 |
| 7.250% |
$3,689 |
| 7.500% |
$3,781 |
| 7.625% |
$3,828 |
| 7.750% |
$3,874 |
| 8.000% |
$3,968 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$23,660 |
$4,231 |
| 5.0% |
$33,800 |
$4,165 |
| 7.5% |
$50,700 |
$4,056 |
| 10% |
$67,600 |
$3,946 |
| 15% |
$101,400 |
$3,727 |
| 20% |
$135,200 |
$3,508 |
| 25% |
$169,000 |
$3,288 |
| 30% |
$202,800 |
$3,069 |
| 50% |
$338,000 |
$2,192 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$6,210 |
| 15 years |
$4,786 |
| 20 years |
$4,112 |
| 30 years |
$3,508 |
| 40 years |
$3,263 |
| Interest only |
$3,042 |
Can I afford a $676,000 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 $676,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$23,660 |
$229,617 |
| 5.0% |
$33,800 |
$226,798 |
| 7.5% |
$50,700 |
$222,101 |
| 10% |
$67,600 |
$217,403 |
| 15% |
$101,400 |
$208,008 |
| 20% |
$135,200 |
$198,612 |
| 25% |
$169,000 |
$189,217 |
| 30% |
$202,800 |
$179,821 |
| 50% |
$338,000 |
$142,240 |