$3,040 a Month Mortgage

How much mortgage can you get for $3,040 a month? Calculate home price based on $3,040 monthly payment.
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With the parameters you selected, \${$pageVals->prettyPayment}/mo will pay for a {$big} home loan.

This does not include the cost of insurance, repairs, taxes, PMI, HSA dues, or other costs.

How expensive of a home can I buy for $3,040 a month?
This calculates the amount of a mortgage that you can get with a $3,040 monthly payment. This is calculated based on the monthly payment, interest rate APR, and loan length. Add the down payment to the loan amount to find the total amount of the house that 3,040/month will afford.
What other costs do I need to consider?
Property Taxes: After the mortgage, your property taxes are usually the biggest expense on a property. Taxes are usually reset to a higher amount after you buy a home. A quick way to estimate your property taxes is to find your local millage rate and multiply by the taxable value of your home. The previous owner typically has a lower taxable value than your purchase price. When the taxable value is reset, your property taxes could increase significantly.
Maintenance: Over time, things break and need to be repaired. Consider these regular costs.
HOA Fees: If you buy a condo, HOA fees can be a large expense and these typically increase over time as the property ages.
Home Insurance: Home insurance is typically not too big of an expense but this can vary by region.
Mortgage Fees: Compare mortgages based on both interest rates and fees. Fees can vary widely based on the mortgage provider.
Down Payment: A standard down payment on a 30 year fixed rate mortgage is 20% of the purchase price however many loan programs offer lower down payments.
Mortgage Amount by Monthly Payment - 30 Year Fixed Mortgage
Payment 3% APR 4% APR 5% APR 6% APR 7% APR
3,040 / mo 721,056 636,762 566,296 507,047 456,935
3,045 / mo 722,242 637,809 567,228 507,880 457,687
3,050 / mo 723,428 638,857 568,159 508,714 458,438
3,055 / mo 724,614 639,904 569,090 509,548 459,190
3,060 / mo 725,800 640,951 570,022 510,382 459,941
3,065 / mo 726,985 641,999 570,953 511,216 460,693
3,070 / mo 728,171 643,046 571,885 512,050 461,444
3,075 / mo 729,357 644,093 572,816 512,884 462,196
3,080 / mo 730,543 645,141 573,747 513,718 462,947
3,085 / mo 731,729 646,188 574,679 514,552 463,699
3,090 / mo 732,915 647,235 575,610 515,386 464,450
3,095 / mo 734,101 648,283 576,542 516,220 465,202
3,100 / mo 735,287 649,330 577,473 517,054 465,953
3,105 / mo 736,473 650,377 578,404 517,888 466,705
3,110 / mo 737,659 651,424 579,336 518,722 467,457
3,115 / mo 738,845 652,472 580,267 519,556 468,208
3,120 / mo 740,031 653,519 581,199 520,390 468,960
3,125 / mo 741,217 654,566 582,130 521,224 469,711
3,130 / mo 742,403 655,614 583,061 522,058 470,463
3,135 / mo 743,589 656,661 583,993 522,892 471,214
3,140 / mo 744,775 657,708 584,924 523,726 471,966
Loan Amount by Rate. 30 year fixed, $3,040/mo
Interest Rate Mortgage
2.000% 822,467
2.125% 808,722
2.250% 795,299
2.375% 782,189
2.500% 769,385
2.625% 756,877
2.750% 744,658
2.875% 732,720
3.000% 721,056
3.125% 709,658
3.250% 698,519
3.375% 687,633
3.500% 676,993
3.625% 666,592
3.750% 656,424
3.875% 646,482
4.000% 636,762
4.125% 627,257
4.250% 617,962
4.375% 608,870
4.500% 599,978
4.625% 591,279
4.750% 582,769
4.875% 574,443
5.000% 566,296
5.125% 558,324
5.250% 550,521
5.375% 542,885
5.500% 535,410
5.625% 528,093
5.750% 520,929
5.875% 513,915
6.000% 507,047
6.125% 500,320
6.250% 493,733
6.375% 487,281
6.500% 480,961
6.625% 474,769
6.750% 468,703
6.875% 462,759
7.000% 456,935