06/25/2026
π‘ FHA Loan Scenario: What Could a $350,000 Home Cost Per Month?
Many buyers wonder what homeownership actually looks like beyond the purchase price. To help answer that question, here's an FHA loan example based on a real-world scenario. π
Using a 660 credit score, a 10% down payment, and current national average interest rates, here's the breakdown:
π° Purchase Price: $350,000
π΅ Down Payment: $35,000 (10%)
π Interest Rate: 5.875%
π Estimated Monthly Payment: $2,463.95
This estimate includes principal, interest, mortgage insurance, property taxes, and homeowners insurance, giving a more realistic picture of the total monthly payment.
The purchase price is only part of the equation. Understanding the full monthly payment is what helps determine whether a home truly fits your financial goals and budget.
What do you think?
π€ Is $2,463.95 per month higher or lower than you expected for a $350,000 home?
Comment "PRIME" below if you'd like more information about FHA loans, down payment options, or the homebuying process.