Amortization Schedule for a 495k Mortgage for 30 Years. What is the monthly payment for a $495,000 Loan? Enter your details above to create an amortization chart showing the details by month or year. A downloadable printable PDF is available after you create the amortization table.
A standard down payment is 20% for a 30 year fixed rate mortgage. For a 495,000 home that would be 99,000. A 30 year fixed rate mortgage includes monthly payments for 360 months until the loan is paid off.
To find the best mortgage rates get several quotes, both online and at a local bank or credit union. Browse by rates below to see how a small change in APR can affect the monthly mortgage payment. Pay close attention to the different fees. Some banks charge higher closing costs.
Maintenance can be an ongoing cost for home ownership. In a single family home, the costs depend on what you want to upgrade, such as the HVAC, kitchens, bathrooms, etc. For a condo or apartment, HOA fees are a regular expense. Common areas are often maintained out of the HOA fees whereas the owner is usually responsible for maintenance inside the home.
Be sure to calculate the new property taxes on a home purchase. Property taxes generally reset after a home is bought. This can be determined by finding your local millage rate. This varies based on the location. For example, if you buy a home for 495,000 the taxable value is often reset to 50% of the purchase price. So if your local area has a tax rate of 49 mills (4.9% of taxable value) your new property taxes will be $12,128 ($247,500 x 4.9%). This can often be significantly higher than the current owner is paying.