07/17/2026
๐ก Thinking about buying a $600,000 home? Letโs break down what that REALLY looks like each month ๐
Many buyers focus only on the priceโbut your monthly payment depends on several key factors like your loan type, down payment, interest rate, taxes, and insurance.
Hereโs a simple comparison to help you understand your options:
๐น FHA Loan โ 3.5% Down
๐ฐ Down payment: ~$21,000
๐ Monthly payment: ~$4,642
๐ผ Cash to close: ~$45,000
๐น VA Loan โ 0% Down (for eligible veterans & service members)
๐ฐ Down payment: $0
๐ Monthly payment: ~$4,524
๐ผ Cash to close: ~$24,000
๐น Conventional 30-Year โ 20% Down
๐ฐ Down payment: $120,000
๐ Monthly payment: ~$3,800
๐ผ Cash to close: ~$144,000
๐น Conventional 15-Year โ 20% Down
๐ฐ Down payment: $120,000
๐ Monthly payment: ~$4,784
โ
Higher payment, but you save BIG on interest over time
๐น Adjustable-Rate Mortgage (ARM) โ 20% Down
๐ Starting payment: ~$3,628
โ ๏ธ Lower at first, but can increase later
๐น 3-2-1 Temporary Buydown
๐ Year 1: ~$2,919
๐ Year 2: ~$3,196
๐ Year 3: ~$3,490
๐ Year 4+: ~$3,800
๐ก This option can be especially powerful if the seller or builder covers the ~$21,500 buydown cost!
โจ Key takeaway: The lowest down payment doesnโt always mean the lowest monthly payment.
The best loan for YOU depends on:
โ
Your available cash
โ
Your credit & income
โ
How long you plan to stay in the home
โ
Whether you qualify for VA benefits
โ
Seller or builder incentives
โ
Your goals (lower payment vs. faster payoff)
Before falling in love with a home based on price alone, make sure you understand the FULL financial picture.
๐ฉ Thinking about buying your dream home around $600K?
Letโs create a personalized plan that fits YOUR goals and budget.
Send me a message or call/text 770-744-0095 or email [email protected] โIโd love to help you make it happen! ๐กโจ
Disclaimer: ****All figures are estimates for educational purposes. Actual costs vary based on lender, borrower profile, rates, taxes, and insurance.****