Mortgage payment on a $375K house
$2,487 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $106,600.
On a $375,000 home with $75,000 (20%) down, you borrow $300,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $2,018 a month. Adding property tax at the U.S. average of 0.9% ($282) and insurance ($188) gives $2,487. Over 30 years you would pay $426,523 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 | $75,000 | $300,000 | $2,018 | $0 | $469 | $2,487 | $106,600 |
| 10% down | $37,500 | $337,500 | $2,270 | $141 | $469 | $2,880 | $123,400 |
| 5% down | $18,750 | $356,250 | $2,397 | $148 | $469 | $3,014 | $129,200 |
| 3.5% down (FHA) | $13,125 | $368,208 | $2,477 | $166 | $469 | $3,112 | $133,400 |
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% | $1,724 | $2,193 | $320,686 |
| 6.11% | $1,820 | $2,289 | $355,172 |
| 6.61% | $1,918 | $2,387 | $390,465 |
| 7.11% | $2,018 | $2,487 | $426,523 |
| 7.61% | $2,120 | $2,589 | $463,303 |
| 8.11% | $2,224 | $2,693 | $500,763 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $2,018 | $2,487 | $426,523 |
| 20 years at 7.11% | $2,346 | $2,815 | $262,979 |
| 15 years at 6.45% | $2,605 | $3,074 | $168,915 |
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 $375K 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% | $120 | $2,326 | $99,700 |
| Alaska | 1.06% | $330 | $2,536 | $108,700 |
| Arizona | 0.44% | $138 | $2,344 | $100,500 |
| Arkansas | 0.5% | $156 | $2,362 | $101,200 |
| California | 0.72% | $225 | $2,430 | $104,100 |
| Colorado | 0.52% | $162 | $2,368 | $101,500 |
| Connecticut | 1.59% | $496 | $2,701 | $115,800 |
| Delaware | 0.49% | $152 | $2,358 | $101,000 |
| District of Columbia | 0.67% | $210 | $2,415 | $103,500 |
| Florida | 0.8% | $251 | $2,456 | $105,300 |
| Georgia | 0.77% | $242 | $2,447 | $104,900 |
| Hawaii | 0.26% | $83 | $2,288 | $98,100 |
| Idaho | 0.42% | $131 | $2,337 | $100,200 |
| Illinois | 1.92% | $600 | $2,806 | $120,300 |
| Indiana | 0.74% | $231 | $2,436 | $104,400 |
| Iowa | 1.27% | $397 | $2,603 | $111,600 |
| Kansas | 1.24% | $389 | $2,595 | $111,200 |
| Kentucky | 0.72% | $224 | $2,430 | $104,100 |
| Louisiana | 0.55% | $171 | $2,377 | $101,900 |
| Maine | 0.92% | $287 | $2,493 | $106,800 |
| Maryland | 0.98% | $306 | $2,512 | $107,600 |
| Massachusetts | 1.01% | $316 | $2,522 | $108,100 |
| Michigan | 1.17% | $367 | $2,572 | $110,200 |
| Minnesota | 1.04% | $325 | $2,531 | $108,500 |
| Mississippi | 0.65% | $202 | $2,408 | $103,200 |
| Missouri | 0.79% | $247 | $2,453 | $105,100 |
| Montana | 0.69% | $215 | $2,421 | $103,800 |
| Nebraska | 1.31% | $410 | $2,616 | $112,100 |
| Nevada | 0.47% | $148 | $2,353 | $100,900 |
| New Hampshire | 1.43% | $448 | $2,654 | $113,700 |
| New Jersey | 1.82% | $568 | $2,774 | $118,900 |
| New Mexico | 0.63% | $198 | $2,403 | $103,000 |
| New York | 1.42% | $445 | $2,651 | $113,600 |
| North Carolina | 0.64% | $198 | $2,404 | $103,000 |
| North Dakota | 0.92% | $288 | $2,494 | $106,900 |
| Ohio | 1.22% | $382 | $2,588 | $110,900 |
| Oklahoma | 0.76% | $238 | $2,443 | $104,700 |
| Oregon | 0.79% | $247 | $2,452 | $105,100 |
| Pennsylvania | 1.12% | $351 | $2,557 | $109,600 |
| Rhode Island | 1.02% | $320 | $2,526 | $108,200 |
| South Carolina | 0.45% | $140 | $2,345 | $100,500 |
| South Dakota | 1.04% | $324 | $2,529 | $108,400 |
| Tennessee | 0.46% | $143 | $2,348 | $100,600 |
| Texas | 1.32% | $413 | $2,619 | $112,200 |
| Utah | 0.5% | $157 | $2,363 | $101,300 |
| Vermont | 1.51% | $471 | $2,676 | $114,700 |
| Virginia | 0.71% | $222 | $2,428 | $104,000 |
| Washington | 0.81% | $253 | $2,459 | $105,400 |
| West Virginia | 0.51% | $160 | $2,366 | $101,400 |
| Wisconsin | 1.2% | $376 | $2,582 | $110,600 |
| Wyoming | 0.56% | $174 | $2,379 | $102,000 |
Other home prices
Frequently asked questions
What is the monthly payment on a $375K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $375,000 house is about $2,018 for principal and interest, or $2,487 including average property tax and insurance.
How much income do I need for a $375K house?
Lenders generally want housing costs under 28% of gross income. A $2,487 monthly payment needs about $106,600 a year, assuming no other large debts.
How much do I need to put down on a $375K house?
20% is $75,000 and avoids PMI. Conventional loans allow as little as 3–5% ($11,250–$18,750) and FHA loans 3.5% ($13,125), but the monthly payment is higher.