These estimates use a national-average property tax rate (1.1% of price) and a typical starting interest rate, adjusted for the loan type and down payment shown. Your actual numbers depend on your credit, your state and municipality's real tax rate, and your specific lender's rate that day — use these as a realistic starting point, then get your own exact numbers in the calculator below.
Estimated payment by down payment
What's included in these numbers
| 20% down | 10% down | 5% down | 3.5% down (FHA) | |
|---|---|---|---|---|
| Loan amount | $200,000 | $225,000 | $237,500 | $241,250 |
| Interest rate (estimated) | 6.625% | 6.75% | 6.875% | 6.625% |
| Principal & interest | $1,281 | $1,459 | $1,560 | $1,545 |
| Property tax (est.) | $229 | $229 | $229 | $229 |
| Insurance (est.) | $73 | $73 | $73 | $73 |
| PMI / MIP | $0 | $122 | $148 | $111 |
What a bigger down payment buys you here
Going from 5% to 20% down on this home lowers the monthly payment by about $427 — a mix of a smaller loan, a slightly better rate, and no PMI at all. It also cuts the ongoing PMI cost out entirely rather than just delaying it, since 20% down avoids PMI on a Conventional loan from day one.
Frequently asked questions
What income would I need for a $250,000 house?
Lenders commonly use a debt-to-income guideline where your total housing payment is roughly 28% or less of gross monthly income — for the 10%-down scenario above (~$1,883/mo), that points to roughly $6,700/month, or about $80,600/year, though your specific lender's guidelines and your other debts affect this.
How much does the rate change based on credit?
These figures assume good credit. Excellent credit could shave a bit more off the rate and PMI; fair or lower credit typically raises both — worth running your actual credit range through the calculator for a more precise number.