Mortgage on a $950K house in District of Columbia
$6,119 a month with 20% down — $5,113 principal and interest plus $532 property tax and $475 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 $532 a month on a $950K home. The typical home in District of Columbia is worth $567,271, so $950K is 67% above the typical price.
$950K 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 | $190,000 | $760,000 | $5,113 | $0 | $1,007 | $6,119 | $262,300 |
| 10% down | $95,000 | $855,000 | $5,752 | $356 | $1,007 | $7,115 | $304,900 |
| 5% down | $47,500 | $902,500 | $6,071 | $376 | $1,007 | $7,454 | $319,500 |
| 3.5% down (FHA) | $33,250 | $932,793 | $6,275 | $420 | $1,007 | $7,702 | $330,100 |
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 $950K buy a typical home?
No District of Columbia county has a typical home value within 15% of $950K.
1 of 1 District of Columbia counties tracked by Zillow have a typical home value at or below $950K. See all District of Columbia home prices.
Other prices in District of Columbia
Frequently asked questions
What is the mortgage on a $950K house in District of Columbia?
About $6,119 a month with 20% down at 7.11%: $5,113 principal and interest, $532 property tax and $475 insurance.
How much do I need to make to buy a $950K house in District of Columbia?
About $262,300 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $950K house in District of Columbia?
At District of Columbia's typical effective rate of 0.67%, about $6,380 a year. Rates vary by county and city — see the county pages.