$305,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $305k home. Change the numbers to see different options. This calc can be used for car loans, debt, real estate, home purchase, etc.
Can I afford a 305,000 dollar house? It depends. In addition to the mortgage payment, a home also has insurance, maintenance, and taxes. Taxes can vary drastically by area. A very rough estimate is to not spend more than 30% of your income on housing.
How do I get a mortgage? A simple first step is to talk to a local banker and fill out a mortgage application. Then consider other offers, either local or online.
How much of a down payment should I make? Here's a little chart that shows monthly payments based on down payment for a $305,000 house.
2% interest
0% down$1,127.34/mo
5% down$1,070.97/mo
10% down$1,014.61/mo
15% down$958.24/mo
20% down$901.87/mo
25% down$845.50/mo
30% down$789.14/mo
35% down$732.77/mo
40% down$676.40/mo
45% down$620.04/mo
50% down$563.67/mo
4% interest
0% down$1,456.12/mo
5% down$1,383.31/mo
10% down$1,310.50/mo
15% down$1,237.70/mo
20% down$1,164.89/mo
25% down$1,092.09/mo
30% down$1,019.28/mo
35% down$946.48/mo
40% down$873.67/mo
45% down$800.86/mo
50% down$728.06/mo
6% interest
0% down$1,828.63/mo
5% down$1,737.20/mo
10% down$1,645.77/mo
15% down$1,554.33/mo
20% down$1,462.90/mo
25% down$1,371.47/mo
30% down$1,280.04/mo
35% down$1,188.61/mo
40% down$1,097.18/mo
45% down$1,005.75/mo
50% down$914.31/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 305,000 house with a 20% down payment?
($244,000 loan. 30 year mortgage)
0.25%$703.58
0.50%$730.02
0.75%$757.10
1.00%$784.80
1.25%$813.13
1.50%$842.09
1.75%$871.67
2.00%$901.87
2.25%$932.68
2.50%$964.09
2.75%$996.11
3.00%$1,028.71
3.25%$1,061.90
3.50%$1,095.67
3.75%$1,130.00
4.00%$1,164.89
4.25%$1,200.33
4.50%$1,236.31
4.75%$1,272.82
5.00%$1,309.84
5.25%$1,347.38
5.50%$1,385.41
5.75%$1,423.92
6.00%$1,462.90
6.25%$1,502.35
6.50%$1,542.25
6.75%$1,582.58
7.00%$1,623.34
7.25%$1,664.51
7.50%$1,706.08
7.75%$1,748.05
8.00%$1,790.39
8.25%$1,833.09
8.50%$1,876.15
8.75%$1,919.55
9.00%$1,963.28
9.25%$2,007.33
9.50%$2,051.68
9.75%$2,096.34
10.00%$2,141.27
10.25%$2,186.49
10.50%$2,231.96
10.75%$2,277.69
11.00%$2,323.67
11.25%$2,369.88
11.50%$2,416.31
11.75%$2,462.96
12.00%$2,509.81