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How much is a mortgage on a $500,000 home?

Assuming you have a 20% down payment ($100,000), your total mortgage on a $500,000 home would be $400,000 . For a 30-year fixed mortgage with a 3.5% interest rate, you would be looking at a $1,796 monthly payment. Please keep in mind that the exact cost and monthly payment for your mortgage will vary, depending its length and terms.

How does amortization work on a $500,000 mortgage?

With each subsequent payment, you pay more toward your principal. Estimate your monthly loan repayments on a $500,000 mortgage at 7.00% fixed interest with our amortization schedule over 15 and 30 years. Buying a house is among the biggest investments you’ll make.

What is a mortgage payment calculator?

A mortgage payment calculator is a powerful real estate tool that can help you do more than just estimate your monthly payments. Here are some additional ways to use our mortgage calculator: Adjust your down payment size to see how much it affects your monthly payment.

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