Assuming a 7% interest rate (common right now):
- Principal & Interest: About $2,661/month
- Add property taxes, insurance, and HOA if needed, and your total could be $3,000–$3,200/month depending on where you live.
💸 $400,000 Mortgage Payment (30-Year Loan)
- Loan Amount: $400,000
- Interest Rate: 7%
- Monthly Principal + Interest: $2,661
- Estimated Total w/Taxes + Insurance: $3,000 – $3,200
💬 Trealtorr.com can run your exact numbers and find homes that fit your monthly comfort zone. Text us at +1 (347) 831-6085 we’ll do the math for free.
🔥 Trealtorr Tip: If that feels high, we can check FHA, VA, or down payment assistance programs — sometimes we can get your monthly closer to $2,400–$2,500.