How much do you need to buy a house?

What a Monthly Mortgage Payment Looks Like Right Now

If you’re buying a $431,250 home and putting 20% down, your monthly mortgage payment (not including taxes and insurance) at today’s 6.76% interest rate would be about $2,240.

Just a few weeks ago, with a slightly higher rate of 6.81%, that same home would’ve cost you about $2,251 a month—so you'd be saving about $11 a month now. ( April 2025)

THINK ABOUT YOUR LONGTERM GOALS —-
Back in October 2023, rates hit a high of 7.79%. At that rate, your monthly payment on the same home would have been around $2,481.

That means today’s buyers are saving about $241 a month, or nearly $2,900 a year, compared to buyers who locked in at the higher rate.

 What a Monthly Mortgage Looks Like with 3.5% Down (FHA Loan Style)

Using an FHA loan with a 3.5% down payment, the monthly mortgage payment on a $431,250 home at today’s 6.76% rate is about $2,702 (not including taxes or insurance).

Two weeks ago, with a 6.81% rate, that same payment would’ve been $2,716—so buyers today are saving about $14/month.

Now compare that to October 2023, when rates hit 7.79%—the monthly payment back then was around $2,993. That’s a $291/month difference—or over $3,490 saved per year just by locking in at today’s lower rate.

think about your Long-Term Savings Over 30 Years //

Monthly savings may not seem huge—but over 30 years, they really add up.

20% Down Payment Example

  • Buy a $431,250 home at today’s 6.76% rate (April 2025)
    → Total loan cost: $806,385

  • Same home, 7.79% rate (Oct 2023 peak)
    → Total loan cost: $893,220

You’d save $86,835 over the life of the loan!

FHA Loan Example (3.5% Down)

  • Today’s 6.76% rate (April 2025)
    → Total loan cost: $972,701

  • At 7.79% rate (Oct 2023)
    → Total loan cost: $1,077,445

You’d save $104,744 over 30 years!

Even a small drop in interest rates can mean tens of thousands in long-term savings. Locking in a lower rate today can really pay off.