Mortgage on a $700K house in Kentucky
$4,535 a month with 20% down — $3,767 principal and interest plus $418 property tax and $350 insurance.
Kentucky's typical property tax is 0.72% of the home's value a year (U.S. average 0.9%), which adds $418 a month on a $700K home. The typical home in Kentucky is worth $230,909, so $700K is 203% above the typical price.
$700K home in Kentucky: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $140,000 | $560,000 | $3,767 | $0 | $768 | $4,535 | $194,400 |
| 10% down | $70,000 | $630,000 | $4,238 | $263 | $768 | $5,269 | $225,800 |
| 5% down | $35,000 | $665,000 | $4,473 | $277 | $768 | $5,519 | $236,500 |
| 3.5% down (FHA) | $24,500 | $687,321 | $4,624 | $310 | $768 | $5,701 | $244,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.72% 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 Kentucky does $700K buy a typical home?
No Kentucky county has a typical home value within 15% of $700K.
120 of 120 Kentucky counties tracked by Zillow have a typical home value at or below $700K. See all Kentucky home prices.
Other prices in Kentucky
Frequently asked questions
What is the mortgage on a $700K house in Kentucky?
About $4,535 a month with 20% down at 7.11%: $3,767 principal and interest, $418 property tax and $350 insurance.
How much do I need to make to buy a $700K house in Kentucky?
About $194,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $700K house in Kentucky?
At Kentucky's typical effective rate of 0.72%, about $5,016 a year. Rates vary by county and city — see the county pages.