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A $350,000 mortgage will more than cover the median price of an existing home, which currently costs $310,800, according to data from the National Association of Realtors.
If you’re considering a loan of this size, use this guide to understand both the monthly payment and long-term costs you can expect as a borrower.
Here’s what you need to know about a $350,000 mortgage loan:
- Monthly payments for a $350,000 mortgage
- Where to get a $350,000 mortgage
- What to consider before applying for a $350,000 mortgage
- How to get a $350,000 mortgage
Monthly payments for a $350,000 mortgage
Monthly mortgage payments always contain two things: principal and interest. In some cases, they might include other costs as well.
On a $350,000, 30-year mortgage with a 3% APR, you can expect a monthly payment of $1,264.81, not including taxes and interest (these vary by location and property, so they can’t be calculated without more detail).
Let us know where you are in the homebuying process below. Credible can help you find a great in just a few minutes and put you on the path to pre-approval.