Finance
What Happens If You Buy a $300K House With 20% Down?
The Answer
$1,216/month
The Full Picture
A $300,000 home with 20% down ($60,000) leaves a $240,000 mortgage. At 7% interest over 30 years, your monthly payment is $1,597 (principal + interest). Over the life of the loan, you'll pay $574,920 total — meaning you pay $334,920 in interest alone on top of the $240,000 principal.
By the Numbers
Down payment$60,000
Monthly payment (P&I)$1,597
Total interest paid$334,920
Total cost of home$574,920
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