What would my payment be?
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Estimated monthly payment$4,07230-year fixed at 6.5%
81%of each payment goes to the loan itself. The rest is tax, insurance.
Principal & interest$3,287
Property tax (est.)$596
Homeowner's insurance (est.)$190
Your loan over timeTotal interest $663,231
Over 30 years you would pay $1,183,231 in principal and interest. Paying it off sooner, or a shorter term, cuts the interest.
Estimates only, for planning. Property tax is assumed at 1.1% and insurance at 0.35% of the home price annually unless you change them, and mortgage insurance at 0.5% of the loan a year below 20% down. What you can afford uses a common 28%/36% guideline. Your actual amounts depend on your location, property and carrier. This is not a loan offer, a rate lock, or a commitment to lend. Contact a loan officer for terms based on your situation.