Mortgage Payment on a $350,000 House
See estimated monthly payments at different interest rates, loan terms, and down payment amounts.
Choose Your Down Payment
Loan amount: $280,000
Monthly Payment Estimates
Principal and interest only. Does not include taxes, insurance, or PMI.
| Interest Rate | 15-Year | 20-Year | 30-Year |
|---|---|---|---|
| 6% | $2,363/mo | $2,006/mo | $1,679/mo |
| 6.5% | $2,439/mo | $2,088/mo | $1,770/mo |
| 7% | $2,517/mo | $2,171/mo | $1,863/mo |
| 7.5% | $2,596/mo | $2,256/mo | $1,958/mo |
Down Payment Comparison at 7% / 30-Year
See how different down payments affect your monthly payment on a $350,000 home.
3% Down
$10,500
$2,259
/month
Loan: $339,500
5% Down
$17,500
$2,212
/month
Loan: $332,500
10% Down
$35,000
$2,096
/month
Loan: $315,000
20% Down
$70,000
$1,863
/month
Loan: $280,000
Can You Afford a $350,000 Home?
A common guideline is keeping your total housing payment at or below 28 percent of your gross monthly income. At 7% with 20% down, the principal and interest payment on a $350,000 home would be roughly $1,863 per month. Adding taxes and insurance, you would likely need a household income of at least $107,779 per year.
These are rough estimates. Your actual qualification depends on your full financial picture, including debts, credit score, and the specific loan program. A personalized consultation can give you a clear picture of what you can comfortably afford.
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