Payment by interest rate
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $4,026.16 | $4,949.67 | $5,930.95 |
| 5.25% | $4,141.53 | $5,053.83 | $6,029.08 |
| 5.50% | $4,258.42 | $5,159.15 | $6,128.13 |
| 5.75% | $4,376.80 | $5,265.63 | $6,228.08 |
| 6.00% | $4,496.63 | $5,373.23 | $6,328.93 |
| 6.25% | $4,617.88 | $5,481.96 | $6,430.67 |
| 6.50% | $4,740.51 | $5,591.80 | $6,533.31 |
| 6.75% | $4,864.49 | $5,702.73 | $6,636.82 |
| 7.00% | $4,989.77 | $5,814.74 | $6,741.21 |
| 7.25% | $5,116.32 | $5,927.82 | $6,846.47 |
| 7.50% | $5,244.11 | $6,041.95 | $6,952.59 |
| 7.75% | $5,373.09 | $6,157.11 | $7,059.57 |
| 8.00% | $5,503.23 | $6,273.30 | $7,167.39 |
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 $750k 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 $5,641, which points to a household income near $241,736 a year. Your other debts also count: lenders typically cap total debt payments at 36% to 43% of income.
Home price for a $750k loan
| Down % | Home price | Down payment |
|---|---|---|
| 3% | $773,196 | $23,196 |
| 5% | $789,474 | $39,474 |
| 10% | $833,333 | $83,333 |
| 20% | $937,500 | $187,500 |