$389,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $389k 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 389,000 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 $389,000 house.
2% interest
0% down$1,437.82/mo
5% down$1,365.93/mo
10% down$1,294.04/mo
15% down$1,222.15/mo
20% down$1,150.26/mo
25% down$1,078.36/mo
30% down$1,006.47/mo
35% down$934.58/mo
40% down$862.69/mo
45% down$790.80/mo
50% down$718.91/mo
4% interest
0% down$1,857.15/mo
5% down$1,764.29/mo
10% down$1,671.43/mo
15% down$1,578.57/mo
20% down$1,485.72/mo
25% down$1,392.86/mo
30% down$1,300.00/mo
35% down$1,207.14/mo
40% down$1,114.29/mo
45% down$1,021.43/mo
50% down$928.57/mo
6% interest
0% down$2,332.25/mo
5% down$2,215.64/mo
10% down$2,099.03/mo
15% down$1,982.41/mo
20% down$1,865.80/mo
25% down$1,749.19/mo
30% down$1,632.58/mo
35% down$1,515.96/mo
40% down$1,399.35/mo
45% down$1,282.74/mo
50% down$1,166.13/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 389,000 house with a 20% down payment?
($311,200 loan. 30 year mortgage)
0.25%$897.36
0.50%$931.08
0.75%$965.61
1.00%$1,000.94
1.25%$1,037.08
1.50%$1,074.01
1.75%$1,111.74
2.00%$1,150.26
2.25%$1,189.55
2.50%$1,229.62
2.75%$1,270.45
3.00%$1,312.03
3.25%$1,354.36
3.50%$1,397.43
3.75%$1,441.22
4.00%$1,485.72
4.25%$1,530.92
4.50%$1,576.80
4.75%$1,623.37
5.00%$1,670.59
5.25%$1,718.46
5.50%$1,766.96
5.75%$1,816.08
6.00%$1,865.80
6.25%$1,916.11
6.50%$1,967.00
6.75%$2,018.44
7.00%$2,070.42
7.25%$2,122.93
7.50%$2,175.96
7.75%$2,229.47
8.00%$2,283.48
8.25%$2,337.94
8.50%$2,392.86
8.75%$2,448.21
9.00%$2,503.99
9.25%$2,560.17
9.50%$2,616.74
9.75%$2,673.69
10.00%$2,731.00
10.25%$2,788.67
10.50%$2,846.67
10.75%$2,904.99
11.00%$2,963.63
11.25%$3,022.57
11.50%$3,081.79
11.75%$3,141.28
12.00%$3,201.04