- What credit score is needed for a $250000 house?What credit score is needed for a $250000 house?
Here's why you should aim for a higher credit score than your loan requires
FICO® Score Range
- How much house can I get for $1000 a month?How much house can I get for $1000 a month?$$$: How much house can you buy for $1,000 per month? These days — with conventional mortgage rates running about 4% — a $1,000 monthly Principle & Interest (P&I) payment gets you a 30-year loan of about $210,000. Assuming a 10% downpayment, that's a $235,000 home.
- What is the average mortgage payment in NJ?
Highest Average Mortgage Payment
Monthly Mortgage Payment*
Mortgage payment as a percentage of income
- How much do you need to make to afford a 500k house?How much do you need to make to afford a 500k house?
A generally accepted rule of thumb is that your mortgage shouldn't be more than three times your annual income. So if you make $165,000 in household income, a $500,000 house is the very most you should get
- How much do I need to make to buy a 200k house?How much do I need to make to buy a 200k house?
This rule says that your mortgage payment (which includes property taxes and homeowners insurance) should be no more than 28% of your pre-tax income, and your total debt (including your mortgage and other debts such as car or student loan payments) should be no more than 36% of your pre-tax income.
- How much do you need to make to afford a 100k house?How much do you need to make to afford a 100k house?
Your maximum mortgage payment (rule of 28)
The golden rule in determining how much home you can afford is that your monthly mortgage payment should not exceed 28 percent of your gross monthly income (your income before taxes are taken out)
- What is the mortgage payment on a $100 000 house?What is the mortgage payment on a $100 000 house?
An example: If your mortgage balance starts out at $100,000 and your loan is written at 5% interest, the 30-year term requires a monthly payment of $536.83. Over 30 years, the total of all payments adds up to just under $193,259. That's a 93% premium in interest payments — on top of the mortgage balance
- What is the mortgage payment on a $150 000 house?So, for a 30 year mortgage at 6.5% interest, your monthly payment for $150,000 would be $948.10 for Principal and Interest on the loan. In addition, you will have to pay your taxes and homeowner's insurance. If your taxes are $2400 per year, divide that amount by 12 months = $200 per month.
- What is today's 30 year fixed mortgage rate?Today's Mortgage Interest Rates for Purchase
20-Year Fixed Rate
15-Year Fixed Rate
- How much house can I afford on $60 000 a year?How much house can I afford on $60 000 a year?
The usual rule of thumb is that you can afford a mortgage two to 2.5 times your annual income. That's a $120,000 to $150,000 mortgage at $60,000. You also have to be able to afford the monthly mortgage payments