Mortgage payment on a $275K house
$1,824 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $78,200.
On a $275,000 home with $55,000 (20%) down, you borrow $220,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $1,480 a month. Adding property tax at the U.S. average of 0.9% ($207) and insurance ($138) gives $1,824. Over 30 years you would pay $312,783 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 | $55,000 | $220,000 | $1,480 | $0 | $344 | $1,824 | $78,200 |
| 10% down | $27,500 | $247,500 | $1,665 | $103 | $344 | $2,112 | $90,500 |
| 5% down | $13,750 | $261,250 | $1,757 | $109 | $344 | $2,210 | $94,700 |
| 3.5% down (FHA) | $9,625 | $270,019 | $1,816 | $122 | $344 | $2,282 | $97,800 |
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% | $1,264 | $1,608 | $235,170 |
| 6.11% | $1,335 | $1,679 | $260,460 |
| 6.61% | $1,407 | $1,751 | $286,341 |
| 7.11% | $1,480 | $1,824 | $312,783 |
| 7.61% | $1,555 | $1,899 | $339,756 |
| 8.11% | $1,631 | $1,975 | $367,226 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $1,480 | $1,824 | $312,783 |
| 20 years at 7.11% | $1,720 | $2,064 | $192,851 |
| 15 years at 6.45% | $1,910 | $2,254 | $123,871 |
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 $275K 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% | $88 | $1,705 | $73,100 |
| Alaska | 1.06% | $242 | $1,859 | $79,700 |
| Arizona | 0.44% | $102 | $1,719 | $73,700 |
| Arkansas | 0.5% | $115 | $1,732 | $74,200 |
| California | 0.72% | $165 | $1,782 | $76,400 |
| Colorado | 0.52% | $119 | $1,736 | $74,400 |
| Connecticut | 1.59% | $364 | $1,981 | $84,900 |
| Delaware | 0.49% | $112 | $1,729 | $74,100 |
| District of Columbia | 0.67% | $154 | $1,771 | $75,900 |
| Florida | 0.8% | $184 | $1,801 | $77,200 |
| Georgia | 0.77% | $177 | $1,795 | $76,900 |
| Hawaii | 0.26% | $61 | $1,678 | $71,900 |
| Idaho | 0.42% | $96 | $1,714 | $73,400 |
| Illinois | 1.92% | $440 | $2,058 | $88,200 |
| Indiana | 0.74% | $169 | $1,787 | $76,600 |
| Iowa | 1.27% | $291 | $1,909 | $81,800 |
| Kansas | 1.24% | $285 | $1,903 | $81,500 |
| Kentucky | 0.72% | $164 | $1,782 | $76,400 |
| Louisiana | 0.55% | $125 | $1,743 | $74,700 |
| Maine | 0.92% | $211 | $1,828 | $78,300 |
| Maryland | 0.98% | $225 | $1,842 | $78,900 |
| Massachusetts | 1.01% | $232 | $1,849 | $79,300 |
| Michigan | 1.17% | $269 | $1,886 | $80,800 |
| Minnesota | 1.04% | $238 | $1,856 | $79,500 |
| Mississippi | 0.65% | $148 | $1,766 | $75,700 |
| Missouri | 0.79% | $181 | $1,799 | $77,100 |
| Montana | 0.69% | $158 | $1,775 | $76,100 |
| Nebraska | 1.31% | $301 | $1,918 | $82,200 |
| Nevada | 0.47% | $108 | $1,726 | $74,000 |
| New Hampshire | 1.43% | $329 | $1,946 | $83,400 |
| New Jersey | 1.82% | $417 | $2,034 | $87,200 |
| New Mexico | 0.63% | $145 | $1,762 | $75,500 |
| New York | 1.42% | $326 | $1,944 | $83,300 |
| North Carolina | 0.64% | $146 | $1,763 | $75,600 |
| North Dakota | 0.92% | $212 | $1,829 | $78,400 |
| Ohio | 1.22% | $280 | $1,898 | $81,300 |
| Oklahoma | 0.76% | $174 | $1,792 | $76,800 |
| Oregon | 0.79% | $181 | $1,798 | $77,100 |
| Pennsylvania | 1.12% | $258 | $1,875 | $80,400 |
| Rhode Island | 1.02% | $235 | $1,852 | $79,400 |
| South Carolina | 0.45% | $102 | $1,720 | $73,700 |
| South Dakota | 1.04% | $237 | $1,855 | $79,500 |
| Tennessee | 0.46% | $105 | $1,722 | $73,800 |
| Texas | 1.32% | $303 | $1,920 | $82,300 |
| Utah | 0.5% | $115 | $1,733 | $74,300 |
| Vermont | 1.51% | $345 | $1,963 | $84,100 |
| Virginia | 0.71% | $163 | $1,780 | $76,300 |
| Washington | 0.81% | $186 | $1,803 | $77,300 |
| West Virginia | 0.51% | $118 | $1,735 | $74,400 |
| Wisconsin | 1.2% | $276 | $1,893 | $81,100 |
| Wyoming | 0.56% | $127 | $1,745 | $74,800 |
Other home prices
Frequently asked questions
What is the monthly payment on a $275K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $275,000 house is about $1,480 for principal and interest, or $1,824 including average property tax and insurance.
How much income do I need for a $275K house?
Lenders generally want housing costs under 28% of gross income. A $1,824 monthly payment needs about $78,200 a year, assuming no other large debts.
How much do I need to put down on a $275K house?
20% is $55,000 and avoids PMI. Conventional loans allow as little as 3–5% ($8,250–$13,750) and FHA loans 3.5% ($9,625), but the monthly payment is higher.