Mortgage on a $350K house in District of Columbia
$2,254 a month with 20% down — $1,884 principal and interest plus $196 property tax and $175 insurance.
District of Columbia's typical property tax is 0.67% of the home's value a year (U.S. average 0.9%), which adds $196 a month on a $350K home. The typical home in District of Columbia is worth $567,271, so $350K is 38% below the typical price.
$350K home in District of Columbia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,000 | $280,000 | $1,884 | $0 | $371 | $2,254 | $96,600 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $371 | $2,621 | $112,300 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $371 | $2,746 | $117,700 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $371 | $2,838 | $121,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.67% 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.
Where in District of Columbia does $350K buy a typical home?
No District of Columbia county has a typical home value within 15% of $350K.
0 of 1 District of Columbia counties tracked by Zillow have a typical home value at or below $350K. See all District of Columbia home prices.
Other prices in District of Columbia
Frequently asked questions
What is the mortgage on a $350K house in District of Columbia?
About $2,254 a month with 20% down at 7.11%: $1,884 principal and interest, $196 property tax and $175 insurance.
How much do I need to make to buy a $350K house in District of Columbia?
About $96,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in District of Columbia?
At District of Columbia's typical effective rate of 0.67%, about $2,350 a year. Rates vary by county and city — see the county pages.