Mortgage Payment on a $699,000 House
What's the payment on a $699,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $699k.
After a 20% down payment, your loan amount will be $559,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $3,627
Total yearly payments = $43,524
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$3,002 |
| 5.500% |
$3,175 |
| 6.000% |
$3,353 |
| 6.250% |
$3,443 |
| 6.500% |
$3,535 |
| 6.750% |
$3,627 |
| 6.875% |
$3,674 |
| 7.000% |
$3,720 |
| 7.250% |
$3,815 |
| 7.500% |
$3,910 |
| 7.625% |
$3,958 |
| 7.750% |
$4,006 |
| 8.000% |
$4,103 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$24,465 |
$4,375 |
| 5.0% |
$34,950 |
$4,307 |
| 7.5% |
$52,425 |
$4,194 |
| 10% |
$69,900 |
$4,080 |
| 15% |
$104,850 |
$3,854 |
| 20% |
$139,800 |
$3,627 |
| 25% |
$174,750 |
$3,400 |
| 30% |
$209,700 |
$3,174 |
| 50% |
$349,500 |
$2,267 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$6,421 |
| 15 years |
$4,948 |
| 20 years |
$4,252 |
| 30 years |
$3,627 |
| 40 years |
$3,374 |
| Interest only |
$3,146 |
Can I afford a $699,000 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 $699,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$24,465 |
$237,429 |
| 5.0% |
$34,950 |
$234,515 |
| 7.5% |
$52,425 |
$229,657 |
| 10% |
$69,900 |
$224,800 |
| 15% |
$104,850 |
$215,085 |
| 20% |
$139,800 |
$205,370 |
| 25% |
$174,750 |
$195,655 |
| 30% |
$209,700 |
$185,940 |
| 50% |
$349,500 |
$147,079 |