Mortgage calculator

Mortgage on a $500,000 home

Monthly payment estimates at 3.5%, 10%, and 20% down — then customize with your rate, term, and state below.

Quick estimates — 30yr fixed at 6.48% (national avg, TX tax rate)

Payment by down payment

3.5% down ($17,500)

$4,282/mo

$613,118 total interest

PMI included

10% down ($50,000)

$4,059/mo

$571,820 total interest

PMI included

20% down ($100,000)

$3,481/mo

$508,285 total interest

Includes estimated property tax and homeowners insurance. Actual payment varies by state, credit score, and lender.

Qualifying income

Income needed to buy a $500,000 home

Lenders typically want housing costs under 28% of gross income. On a $500,000 home that works out to about $149,000 a year with 20% down, $174,000 with 10% down, and $184,000 with 3.5% down, assuming no other debts. Car payments, student loans and credit cards raise the number. Estimates use 6.48% on a 30-year loan and Texas property taxes.

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