Payment by interest rate
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $1,744.67 | $2,144.86 | $2,570.08 |
| 5.25% | $1,794.66 | $2,189.99 | $2,612.60 |
| 5.50% | $1,845.31 | $2,235.63 | $2,655.52 |
| 5.75% | $1,896.61 | $2,281.77 | $2,698.83 |
| 6.00% | $1,948.54 | $2,328.40 | $2,742.53 |
| 6.25% | $2,001.08 | $2,375.52 | $2,786.62 |
| 6.50% | $2,054.22 | $2,423.11 | $2,831.10 |
| 6.75% | $2,107.94 | $2,471.18 | $2,875.96 |
| 7.00% | $2,162.23 | $2,519.72 | $2,921.19 |
| 7.25% | $2,217.07 | $2,568.72 | $2,966.80 |
| 7.50% | $2,272.45 | $2,618.18 | $3,012.79 |
| 7.75% | $2,328.34 | $2,668.08 | $3,059.15 |
| 8.00% | $2,384.73 | $2,718.43 | $3,105.87 |
These are principal and interest only. Property tax, homeowners insurance, PMI (if you put less than 20% down) and HOA dues are added to the real monthly cost. The mortgage calculator includes all of them.
Income needed for a $325k mortgage
Many lenders want the full housing payment under about 28% of gross monthly income. With a 6.5% rate, property tax around 1.2% a year and roughly $150 a month of insurance, the payment is about $2,529, which points to a household income near $108,395 a year. Your other debts also count: lenders typically cap total debt payments at 36% to 43% of income.
Home price for a $325k loan
| Down % | Home price | Down payment |
|---|---|---|
| 3% | $335,052 | $10,052 |
| 5% | $342,105 | $17,105 |
| 10% | $361,111 | $36,111 |
| 20% | $406,250 | $81,250 |