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How much house can I buy for $1500 a month?
Formula for Income to Afford a Home Mortgage Payment
| Mortgage Principal | Monthly Payment | Interest Portion |
|---|---|---|
| $150,000 | $900 | $745 |
| $200,000 | $1,200 | $994 |
| $250,000 | $1,500 | $1242 |
| $300,000 | $1,799 | $1,491 |
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How much mortgage can I get for 800 a month?
30 Year $800 Mortgage Loan
| Loan Amount | 2.50% | 5.50% |
|---|---|---|
| $800 | $3.16 | $4.54 |
| $805 | $3.18 | $4.57 |
| $810 | $3.20 | $4.60 |
| $815 | $3.22 | $4.63 |
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How much house can I buy for $1000 a 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.
How much house can I buy for 1300 a month?
Calculating estimated mortgage payments
If you purchased a 30-year fixed rate mortgage, at an annual interest rate at 3.85%, and a mortgage loan amount of $255,968, your monthly principle and interest payment would be $1,200 each month. With some simple math, you can calculate monthly payments including interest.