How Much Will my Monthly Payment Be if I Buy a $300k House in Austin?

Most people buy homes based on what they can afford to pay per month. So what does a $300k home cost at a 5% interest rate? What about at a 7.5% interest rate.

Take a look at this chart compiled by Amy Oehler of Big Life Home Group that tells you exactly what your principal and interest (p&i) payment will be whether you’re buying a $300k home or a $600k home.

 This chart is only meant as a general guide. You will almost never finance 100% of your home price, so the $300k column really represents a house price of $310,500 (with 3.5% down payment) to $360,000 (with a 20% down payment).

 It also doesn’t factor in taxes, insurance, or any homeowners association fees.

 If you’re thinking of buying a home in the next 1-2 years, I recommend reaching out to a lender now so that they can take a look at your personal financial situation. A lot of factors go into prequalifying!

 To see what homes are available in your desired price range, area of town, and that meet your other housing criteria, fill out this buyer form and I’ll set up a search for you. If you don’t like online forms, give me a call and we can get a market search set up for you that way. My work cell is 512-900-4987.