Payment by interest rate
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $4,831.39 | $5,939.60 | $7,117.14 |
| 5.25% | $4,969.83 | $6,064.60 | $7,234.90 |
| 5.50% | $5,110.10 | $6,190.99 | $7,353.75 |
| 5.75% | $5,252.16 | $6,318.75 | $7,473.69 |
| 6.00% | $5,395.95 | $6,447.88 | $7,594.71 |
| 6.25% | $5,541.45 | $6,578.35 | $7,716.81 |
| 6.50% | $5,688.61 | $6,710.16 | $7,839.97 |
| 6.75% | $5,837.38 | $6,843.28 | $7,964.19 |
| 7.00% | $5,987.72 | $6,977.69 | $8,089.45 |
| 7.25% | $6,139.59 | $7,113.38 | $8,215.77 |
| 7.50% | $6,292.93 | $7,250.34 | $8,343.11 |
| 7.75% | $6,447.71 | $7,388.54 | $8,471.48 |
| 8.00% | $6,603.88 | $7,527.96 | $8,600.87 |
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 $900k 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 $6,739, which points to a household income near $288,798 a year. Your other debts also count: lenders typically cap total debt payments at 36% to 43% of income.
Home price for a $900k loan
| Down % | Home price | Down payment |
|---|---|---|
| 3% | $927,835 | $27,835 |
| 5% | $947,368 | $47,368 |
| 10% | $1,000,000 | $100,000 |
| 20% | $1,125,000 | $225,000 |