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 | $240,000 | $270,000 | $285,000 | $289,500 |
| Interest rate (estimated) | 6.625% | 6.75% | 6.875% | 6.625% |
| Principal & interest | $1,537 | $1,751 | $1,872 | $1,854 |
| Property tax (est.) | $275 | $275 | $275 | $275 |
| Insurance (est.) | $88 | $88 | $88 | $88 |
| PMI / MIP | $0 | $146 | $178 | $133 |
How much does $10,000 more down payment save?
Comparing 5% down ($15,000) to 10% down ($30,000) on this home: the extra $15,000 down lowers the monthly payment by about $153 — a combination of a smaller loan, a slightly better rate, and lower PMI. Whether that trade is worth it depends on what else that $15,000 could do for you (an emergency fund, other debt, moving costs).
Frequently asked questions
What income would I need for a $300,000 house?
Using a common guideline of housing payment at roughly 28% of gross monthly income, the 10%-down scenario above (~$2,260/mo) points to about $8,070/month, or roughly $96,800/year — though this varies by lender and your other debt obligations.
Does a 15-year loan change these numbers a lot?
Yes, significantly — a 15-year term raises the monthly principal and interest substantially in exchange for a much lower total interest cost. See our 15-year vs. 30-year comparison for the real math.