$388,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $388k 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 388,000 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 $388,000 house.
2% interest
0% down$1,434.12/mo
5% down$1,362.42/mo
10% down$1,290.71/mo
15% down$1,219.01/mo
20% down$1,147.30/mo
25% down$1,075.59/mo
30% down$1,003.89/mo
35% down$932.18/mo
40% down$860.47/mo
45% down$788.77/mo
50% down$717.06/mo
4% interest
0% down$1,852.37/mo
5% down$1,759.75/mo
10% down$1,667.13/mo
15% down$1,574.52/mo
20% down$1,481.90/mo
25% down$1,389.28/mo
30% down$1,296.66/mo
35% down$1,204.04/mo
40% down$1,111.42/mo
45% down$1,018.80/mo
50% down$926.19/mo
6% interest
0% down$2,326.26/mo
5% down$2,209.94/mo
10% down$2,093.63/mo
15% down$1,977.32/mo
20% down$1,861.00/mo
25% down$1,744.69/mo
30% down$1,628.38/mo
35% down$1,512.07/mo
40% down$1,395.75/mo
45% down$1,279.44/mo
50% down$1,163.13/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 388,000 house with a 20% down payment?
($310,400 loan. 30 year mortgage)
0.25%$895.05
0.50%$928.68
0.75%$963.12
1.00%$998.37
1.25%$1,034.41
1.50%$1,071.25
1.75%$1,108.88
2.00%$1,147.30
2.25%$1,186.49
2.50%$1,226.46
2.75%$1,267.18
3.00%$1,308.66
3.25%$1,350.88
3.50%$1,393.83
3.75%$1,437.51
4.00%$1,481.90
4.25%$1,526.98
4.50%$1,572.75
4.75%$1,619.19
5.00%$1,666.29
5.25%$1,714.04
5.50%$1,762.42
5.75%$1,811.41
6.00%$1,861.00
6.25%$1,911.19
6.50%$1,961.94
6.75%$2,013.25
7.00%$2,065.10
7.25%$2,117.48
7.50%$2,170.36
7.75%$2,223.74
8.00%$2,277.61
8.25%$2,331.93
8.50%$2,386.71
8.75%$2,441.92
9.00%$2,497.55
9.25%$2,553.58
9.50%$2,610.01
9.75%$2,666.82
10.00%$2,723.98
10.25%$2,781.50
10.50%$2,839.35
10.75%$2,897.53
11.00%$2,956.01
11.25%$3,014.80
11.50%$3,073.86
11.75%$3,133.21
12.00%$3,192.81