$550,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $550k 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 550,000 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 $550,000 house.
2% interest
0% down$2,032.91/mo
5% down$1,931.26/mo
10% down$1,829.62/mo
15% down$1,727.97/mo
20% down$1,626.33/mo
25% down$1,524.68/mo
30% down$1,423.03/mo
35% down$1,321.39/mo
40% down$1,219.74/mo
45% down$1,118.10/mo
50% down$1,016.45/mo
4% interest
0% down$2,625.78/mo
5% down$2,494.49/mo
10% down$2,363.21/mo
15% down$2,231.92/mo
20% down$2,100.63/mo
25% down$1,969.34/mo
30% down$1,838.05/mo
35% down$1,706.76/mo
40% down$1,575.47/mo
45% down$1,444.18/mo
50% down$1,312.89/mo
6% interest
0% down$3,297.53/mo
5% down$3,132.65/mo
10% down$2,967.78/mo
15% down$2,802.90/mo
20% down$2,638.02/mo
25% down$2,473.15/mo
30% down$2,308.27/mo
35% down$2,143.39/mo
40% down$1,978.52/mo
45% down$1,813.64/mo
50% down$1,648.76/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 550,000 house with a 20% down payment?
($440,000 loan. 30 year mortgage)
0.25%$1,268.76
0.50%$1,316.43
0.75%$1,365.25
1.00%$1,415.21
1.25%$1,466.31
1.50%$1,518.53
1.75%$1,571.87
2.00%$1,626.33
2.25%$1,681.88
2.50%$1,738.53
2.75%$1,796.26
3.00%$1,855.06
3.25%$1,914.91
3.50%$1,975.80
3.75%$2,037.71
4.00%$2,100.63
4.25%$2,164.54
4.50%$2,229.42
4.75%$2,295.25
5.00%$2,362.02
5.25%$2,429.70
5.50%$2,498.27
5.75%$2,567.72
6.00%$2,638.02
6.25%$2,709.16
6.50%$2,781.10
6.75%$2,853.83
7.00%$2,927.33
7.25%$3,001.58
7.50%$3,076.54
7.75%$3,152.21
8.00%$3,228.56
8.25%$3,305.57
8.50%$3,383.22
8.75%$3,461.48
9.00%$3,540.34
9.25%$3,619.77
9.50%$3,699.76
9.75%$3,780.28
10.00%$3,861.31
10.25%$3,942.85
10.50%$4,024.85
10.75%$4,107.32
11.00%$4,190.22
11.25%$4,273.55
11.50%$4,357.28
11.75%$4,441.40
12.00%$4,525.90