$305 a Month Mortgage

How much mortgage can you get for $305 a month? Calculate home price based on $305 monthly payment.
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With the parameters you selected, \${$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 $305 a month?
This calculates the amount of a mortgage that you can get with a $305 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 305/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
305 / mo 72,343 63,886 56,816 50,871 45,844
310 / mo 73,529 64,933 57,747 51,705 46,595
315 / mo 74,715 65,980 58,679 52,539 47,347
320 / mo 75,901 67,028 59,610 53,373 48,098
325 / mo 77,087 68,075 60,542 54,207 48,850
330 / mo 78,272 69,122 61,473 55,041 49,601
335 / mo 79,458 70,170 62,404 55,875 50,353
340 / mo 80,644 71,217 63,336 56,709 51,105
345 / mo 81,830 72,264 64,267 57,543 51,856
350 / mo 83,016 73,311 65,199 58,377 52,608
355 / mo 84,202 74,359 66,130 59,211 53,359
360 / mo 85,388 75,406 67,061 60,045 54,111
365 / mo 86,574 76,453 67,993 60,879 54,862
370 / mo 87,760 77,501 68,924 61,713 55,614
375 / mo 88,946 78,548 69,856 62,547 56,365
380 / mo 90,132 79,595 70,787 63,381 57,117
385 / mo 91,318 80,643 71,718 64,215 57,868
390 / mo 92,504 81,690 72,650 65,049 58,620
395 / mo 93,690 82,737 73,581 65,883 59,371
400 / mo 94,876 83,784 74,513 66,717 60,123
405 / mo 96,062 84,832 75,444 67,551 60,875
Loan Amount by Rate. 30 year fixed, $305/mo
Interest Rate Mortgage
2.000% 82,517
2.125% 81,138
2.250% 79,792
2.375% 78,476
2.500% 77,192
2.625% 75,937
2.750% 74,711
2.875% 73,513
3.000% 72,343
3.125% 71,199
3.250% 70,082
3.375% 68,990
3.500% 67,922
3.625% 66,878
3.750% 65,858
3.875% 64,861
4.000% 63,886
4.125% 62,932
4.250% 61,999
4.375% 61,087
4.500% 60,195
4.625% 59,322
4.750% 58,469
4.875% 57,633
5.000% 56,816
5.125% 56,016
5.250% 55,233
5.375% 54,467
5.500% 53,717
5.625% 52,983
5.750% 52,264
5.875% 51,561
6.000% 50,871
6.125% 50,197
6.250% 49,536
6.375% 48,888
6.500% 48,254
6.625% 47,633
6.750% 47,024
6.875% 46,428
7.000% 45,844