Mortgage payment on a $250K house
$1,658 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $71,100.
On a $250,000 home with $50,000 (20%) down, you borrow $200,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $1,345 a month. Adding property tax at the U.S. average of 0.9% ($188) and insurance ($125) gives $1,658. Over 30 years you would pay $284,349 in interest.
Payment by down payment
Putting less than 20% down means a bigger loan and mortgage insurance, so the monthly payment rises:
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $313 | $1,658 | $71,100 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $313 | $1,920 | $82,300 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $313 | $2,009 | $86,100 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $313 | $2,075 | $88,900 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.9% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Payment at different interest rates
| Rate | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 5.61% | $1,149 | $1,462 | $213,791 |
| 6.11% | $1,213 | $1,526 | $236,781 |
| 6.61% | $1,279 | $1,591 | $260,310 |
| 7.11% | $1,345 | $1,658 | $284,349 |
| 7.61% | $1,414 | $1,726 | $308,869 |
| 8.11% | $1,483 | $1,796 | $333,842 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $1,345 | $1,658 | $284,349 |
| 20 years at 7.11% | $1,564 | $1,877 | $175,319 |
| 15 years at 6.45% | $1,737 | $2,049 | $112,610 |
A shorter loan costs more each month but saves a lot of interest — and 15-year loans carry a lower rate (6.45% this week).
Mortgage on a $250K house in each state
Property tax changes the payment a lot from state to state (20% down):
| State | Tax rate | Tax / month | Total / month | Income needed |
|---|---|---|---|---|
| Alabama | 0.38% | $80 | $1,550 | $66,400 |
| Alaska | 1.06% | $220 | $1,690 | $72,400 |
| Arizona | 0.44% | $92 | $1,563 | $67,000 |
| Arkansas | 0.5% | $104 | $1,575 | $67,500 |
| California | 0.72% | $150 | $1,620 | $69,400 |
| Colorado | 0.52% | $108 | $1,579 | $67,700 |
| Connecticut | 1.59% | $331 | $1,801 | $77,200 |
| Delaware | 0.49% | $101 | $1,572 | $67,400 |
| District of Columbia | 0.67% | $140 | $1,610 | $69,000 |
| Florida | 0.8% | $167 | $1,637 | $70,200 |
| Georgia | 0.77% | $161 | $1,632 | $69,900 |
| Hawaii | 0.26% | $55 | $1,526 | $65,400 |
| Idaho | 0.42% | $88 | $1,558 | $66,800 |
| Illinois | 1.92% | $400 | $1,871 | $80,200 |
| Indiana | 0.74% | $154 | $1,624 | $69,600 |
| Iowa | 1.27% | $265 | $1,735 | $74,400 |
| Kansas | 1.24% | $259 | $1,730 | $74,100 |
| Kentucky | 0.72% | $149 | $1,620 | $69,400 |
| Louisiana | 0.55% | $114 | $1,584 | $67,900 |
| Maine | 0.92% | $192 | $1,662 | $71,200 |
| Maryland | 0.98% | $204 | $1,675 | $71,800 |
| Massachusetts | 1.01% | $211 | $1,681 | $72,100 |
| Michigan | 1.17% | $245 | $1,715 | $73,500 |
| Minnesota | 1.04% | $217 | $1,687 | $72,300 |
| Mississippi | 0.65% | $135 | $1,605 | $68,800 |
| Missouri | 0.79% | $165 | $1,635 | $70,100 |
| Montana | 0.69% | $144 | $1,614 | $69,200 |
| Nebraska | 1.31% | $273 | $1,744 | $74,700 |
| Nevada | 0.47% | $98 | $1,569 | $67,200 |
| New Hampshire | 1.43% | $299 | $1,769 | $75,800 |
| New Jersey | 1.82% | $379 | $1,849 | $79,200 |
| New Mexico | 0.63% | $132 | $1,602 | $68,700 |
| New York | 1.42% | $297 | $1,767 | $75,700 |
| North Carolina | 0.64% | $132 | $1,603 | $68,700 |
| North Dakota | 0.92% | $192 | $1,663 | $71,300 |
| Ohio | 1.22% | $255 | $1,725 | $73,900 |
| Oklahoma | 0.76% | $159 | $1,629 | $69,800 |
| Oregon | 0.79% | $164 | $1,635 | $70,100 |
| Pennsylvania | 1.12% | $234 | $1,705 | $73,100 |
| Rhode Island | 1.02% | $213 | $1,684 | $72,200 |
| South Carolina | 0.45% | $93 | $1,563 | $67,000 |
| South Dakota | 1.04% | $216 | $1,686 | $72,300 |
| Tennessee | 0.46% | $95 | $1,566 | $67,100 |
| Texas | 1.32% | $275 | $1,746 | $74,800 |
| Utah | 0.5% | $105 | $1,575 | $67,500 |
| Vermont | 1.51% | $314 | $1,784 | $76,500 |
| Virginia | 0.71% | $148 | $1,618 | $69,400 |
| Washington | 0.81% | $169 | $1,639 | $70,300 |
| West Virginia | 0.51% | $107 | $1,577 | $67,600 |
| Wisconsin | 1.2% | $251 | $1,721 | $73,800 |
| Wyoming | 0.56% | $116 | $1,586 | $68,000 |
Other home prices
Frequently asked questions
What is the monthly payment on a $250K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $250,000 house is about $1,345 for principal and interest, or $1,658 including average property tax and insurance.
How much income do I need for a $250K house?
Lenders generally want housing costs under 28% of gross income. A $1,658 monthly payment needs about $71,100 a year, assuming no other large debts.
How much do I need to put down on a $250K house?
20% is $50,000 and avoids PMI. Conventional loans allow as little as 3–5% ($7,500–$12,500) and FHA loans 3.5% ($8,750), but the monthly payment is higher.