What is 20 down on a 300 000 house

Assuming you have a 20% down payment ($60,000), your total mortgage on a $300,000 home would be $240,000. For a 30-year fixed mortgage with a 3.5% interest rate, you would be looking at a $1,078 monthly payment. Please keep in mind that the exact cost and monthly payment for your mortgage will vary, depending its length and terms.

Figuring out how much money you should put down on a home is an important step in the home buying process. The standard amount has been 20%, the real answer is that it depends on a number of unique factors specific to your situation. Dedicate some time to analyzing the short term and long term effects of different mortgage down payments on your upcoming home purchase.

One of the most common questions potential home buyers ask — and rightfully so — is “how much should I put down on a house?” While it can be tempting to put down the minimum amount required, there are some instances when a larger down payment is a smarter move for you and your family. You only have one opportunity to put down a down payment on a home loan, so it’s important you ensure you’re choosing the right amount.

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