$385,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $385k 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 385,000 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 $385,000 house.
2% interest
0% down$1,423.03/mo
5% down$1,351.88/mo
10% down$1,280.73/mo
15% down$1,209.58/mo
20% down$1,138.43/mo
25% down$1,067.28/mo
30% down$996.12/mo
35% down$924.97/mo
40% down$853.82/mo
45% down$782.67/mo
50% down$711.52/mo
4% interest
0% down$1,838.05/mo
5% down$1,746.15/mo
10% down$1,654.24/mo
15% down$1,562.34/mo
20% down$1,470.44/mo
25% down$1,378.54/mo
30% down$1,286.63/mo
35% down$1,194.73/mo
40% down$1,102.83/mo
45% down$1,010.93/mo
50% down$919.02/mo
6% interest
0% down$2,308.27/mo
5% down$2,192.86/mo
10% down$2,077.44/mo
15% down$1,962.03/mo
20% down$1,846.62/mo
25% down$1,731.20/mo
30% down$1,615.79/mo
35% down$1,500.38/mo
40% down$1,384.96/mo
45% down$1,269.55/mo
50% down$1,154.13/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 385,000 house with a 20% down payment?
($308,000 loan. 30 year mortgage)
0.25%$888.13
0.50%$921.50
0.75%$955.68
1.00%$990.65
1.25%$1,026.42
1.50%$1,062.97
1.75%$1,100.31
2.00%$1,138.43
2.25%$1,177.32
2.50%$1,216.97
2.75%$1,257.38
3.00%$1,298.54
3.25%$1,340.44
3.50%$1,383.06
3.75%$1,426.40
4.00%$1,470.44
4.25%$1,515.17
4.50%$1,560.59
4.75%$1,606.67
5.00%$1,653.41
5.25%$1,700.79
5.50%$1,748.79
5.75%$1,797.40
6.00%$1,846.62
6.25%$1,896.41
6.50%$1,946.77
6.75%$1,997.68
7.00%$2,049.13
7.25%$2,101.10
7.50%$2,153.58
7.75%$2,206.55
8.00%$2,259.99
8.25%$2,313.90
8.50%$2,368.25
8.75%$2,423.04
9.00%$2,478.24
9.25%$2,533.84
9.50%$2,589.83
9.75%$2,646.20
10.00%$2,702.92
10.25%$2,759.99
10.50%$2,817.40
10.75%$2,875.12
11.00%$2,933.16
11.25%$2,991.49
11.50%$3,050.10
11.75%$3,108.98
12.00%$3,168.13