Mortgage Payment on a $679,000 House
What's the payment on a $679,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $679k.
After a 20% down payment, your loan amount will be $543,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $3,523
Total yearly payments = $42,278
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$2,916 |
| 5.500% |
$3,084 |
| 6.000% |
$3,257 |
| 6.250% |
$3,345 |
| 6.500% |
$3,433 |
| 6.750% |
$3,523 |
| 6.875% |
$3,568 |
| 7.000% |
$3,614 |
| 7.250% |
$3,706 |
| 7.500% |
$3,798 |
| 7.625% |
$3,845 |
| 7.750% |
$3,892 |
| 8.000% |
$3,986 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$23,765 |
$4,250 |
| 5.0% |
$33,950 |
$4,184 |
| 7.5% |
$50,925 |
$4,074 |
| 10% |
$67,900 |
$3,964 |
| 15% |
$101,850 |
$3,743 |
| 20% |
$135,800 |
$3,523 |
| 25% |
$169,750 |
$3,303 |
| 30% |
$203,700 |
$3,083 |
| 50% |
$339,500 |
$2,202 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$6,237 |
| 15 years |
$4,807 |
| 20 years |
$4,130 |
| 30 years |
$3,523 |
| 40 years |
$3,277 |
| Interest only |
$3,056 |
Can I afford a $679,000 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 $679,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$23,765 |
$230,636 |
| 5.0% |
$33,950 |
$227,805 |
| 7.5% |
$50,925 |
$223,086 |
| 10% |
$67,900 |
$218,368 |
| 15% |
$101,850 |
$208,931 |
| 20% |
$135,800 |
$199,494 |
| 25% |
$169,750 |
$190,057 |
| 30% |
$203,700 |
$180,619 |
| 50% |
$339,500 |
$142,871 |