📊 SEPTEMBER 2026 — MEDIAN-PRICE HOME — FHA ELIGIBLE

Monthly Payment on a $350,000 Mortgage in 2026

At today's 6.37% rate, a $350K mortgage costs $1,747–$2,184/month P&I. FHA-eligible — just $12,250 down with a 580 score.

Mortgage-Info.com Editorial Team, Editorial & Research Team
Mortgage-Info.com Editorial Team
Editorial & Research Team
12 min readEditorial
Mortgage rates and market trendsFHA, VA, USDA and conventional loan programsRefinancing strategies
$1,747
P&I (20% Down)
$2,184
P&I ($350K Loan)
$94K+
Income Needed
$12,250
FHA Min Down
Get Pre-Approved for $350K →Compare Rates →
📊

$350,000 Mortgage Payment 2026

At 6.37% (Sept 2026), a $350K mortgage costs $2,184/mo P&I on the full loan, or $1,747/mo with 20% down on a $350K home. Income needed: $94K–$115K. FHA-eligible at 3.5% down ($12,250). Total 30-year interest: $436,240.

$1,747/mo
P&I (20% down)
$2,184/mo
P&I (full $350K)
$94K+
Income needed
$436,240
30yr interest
Source: Freddie Mac PMMS + FHA 2026 Loan Limits
Expert: Mortgage-Info Editorial Team, Editorial & Research Team
Updated:
Check My Rate →

Quick Answer: $350K Mortgage Payment 2026

30-year at 6.37%:
• $350K loan (0% down VA): $2,184/mo P&I
• 20% down on $350K home: $280K loan → $1,747/mo P&I
• FHA 3.5% down: $2,656/mo PITI (incl. MIP)
• Income needed: $85,000–$115,000/year
• 15-year: $2,906/mo — saves $263,160 interest

$350K Home: Payment by Down Payment (2026)

$350,000 home, 30-year fixed at 6.37%. PITI includes ~$350/mo taxes + $100/mo insurance. *FHA row at ~6.12% FHA rate.

Down PaymentDown AmountLoanP&I/moPMI/MIPEst. PITIIncome Needed
0% (VA)$0$350,000$2,184$0 (VA)$2,634$112,900
3.5% (FHA)$12,250$337,750$2,051*$155 MIP$2,656$113,800
5%$17,500$332,500$2,074$153$2,677$114,700
10%$35,000$315,000$1,965$79$2,494$106,900
20%★ No PMI$70,000$280,000$1,747$0$2,197$94,200
30%$105,000$245,000$1,528$0$1,978$84,800
Compare Today's Top Lenders — Free, Takes 2 Minutes →

Compare 5+ Lender Rates in 2 Minutes

On a $350K loan, a 0.50% rate gap = $110/month = $39,600 over 30 years. Soft pull only — no SSN needed.

Compare Lenders Free →Check FHA Eligibility →

Soft pull only • No obligation • 300+ lenders

15 vs 20 vs 30-Year on $350,000 (2026)

TermRateMonthly P&ITotal InterestSaved vs 30yr
30-Year Fixed6.37%$2,184$436,240—
20-Year Fixed6.12%$2,533$257,920$178,320
15-Year Fixed5.75%$2,906$173,080$263,160
Compare Today's Top Lenders — Free, Takes 2 Minutes →

Frequently Asked Questions

What is the monthly payment on a $350,000 mortgage in 2026?
At the September 2026 30-year fixed rate of 6.37%, a $350,000 loan costs $2,184/month for principal and interest. On a $350,000 home with 20% down ($70,000), the loan is $280,000 and P&I is $1,747/month. Full PITI runs $1,978–$2,724/month depending on down payment. A 15-year mortgage at 5.75% costs $2,906/month P&I but saves $263,160 in interest.Check your personalized rate →
What income do I need for a $350,000 mortgage?
Income needed for a $350,000 home purchase in 2026: With 20% down, PITI ≈ $2,197/month. Using the 28% front-end rule: $2,197 / 0.28 = $94,200/year. With 36% max DTI: $73,200/year with zero other debt. With 5% down, PITI ≈ $2,677/month → income needed ≈ $114,700/year (28% rule). Most $350K buyers earn $85,000–$120,000 household income — near the US median.Check your personalized rate →
Can I use an FHA loan for a $350,000 home?
Yes — $350,000 is well under the 2026 FHA loan limit of $498,257 in most counties. FHA requires just 3.5% down ($12,250 on a $350K home) and accepts credit scores of 580+. FHA payment on $350K home: $337,750 loan at ~6.12% = $2,051/mo P&I + ~$155/mo MIP + taxes/insurance ≈ $2,656/mo PITI. FHA MIP lasts the life of the loan if you put under 10% down.Check your personalized rate →
What is the total interest on a $350,000 mortgage?
Total interest on a $350,000 mortgage at 6.37% over 30 years: Monthly P&I $2,184 × 360 payments = $786,240 total paid → $436,240 in interest (124.6% of the loan). At 7.00%: $2,329/mo, $488,440 interest. On a 15-year at 5.75%: $2,906/mo, $173,080 interest — saving $263,160 vs the 30-year.Check your personalized rate →
How much cash do I need to buy a $350,000 home in 2026?
Total cash to buy a $350,000 home in 2026: 20% down path: $70,000 down + $7,000–$10,500 closing costs + $6,600–$13,200 reserves = $83,600–$93,700. FHA 3.5% path: $12,250 down + ~$10,000 closing + reserves = ~$28,000–$35,000. VA path: $0 down + ~$9,000 closing = ~$15,000–$20,000. Down payment assistance programs can cover $5,000–$15,000 of the FHA path in most states.Check your personalized rate →
What credit score do I need for a $350,000 mortgage?
For a $350,000 conventional mortgage in 2026: minimum 620, but 740+ gets the best rate. Rate impact on $350K loan: 760+ score ≈ 6.37% ($2,184/mo), 700 score ≈ 6.62% ($2,241/mo), 660 score ≈ 7.00% ($2,329/mo). The 660 vs 760 gap costs $145/month = $52,200 over 30 years. FHA accepts 580+ (3.5% down) or 500–579 (10% down). VA typically needs 620+.Check your personalized rate →

Complete Payment Series

$300,000 Mortgage Monthly Payment

$1,496–$1,872/mo. Income $80K+.

$400,000 Mortgage Monthly Payment

$1,996–$2,493/mo. Median US home.

$500,000 Mortgage Monthly Payment

$2,494–$3,119/mo. Income $135K+.

Down Payment Assistance Programs

$5K–$15K grants in most states.

Get Pre-Approved for $350,000 Today

Compare rates from 100+ lenders. No credit impact. Pre-approval in minutes.

Get My $350K Pre-Approval →
Mortgage-Info.com Editorial Team - Editorial & Research Team

Meet the Mortgage-Info.com Editorial Team

Editorial & Research Team

Editorial & Research Team1500+ ArticlesPrimary-Source Research

The Mortgage-Info.com Editorial Team researches, writes, and maintains all content on this site. Our guides are built from publicly available data sources including Freddie Mac, Fannie Mae, FHA, VA, and lender-published rate sheets, and are reviewed regularly to keep figures and program requirements accurate and current.

EXPERTISE:

Mortgage rates and market trendsFHA, VA, USDA and conventional loan programsRefinancing strategiesFirst-time homebuyer programs

KEY ACHIEVEMENT:

Publishes and maintains 1,500+ mortgage guides and comparisons

View Full ProfileMeet Our Team
1500+
Articles
2024
Est.
Daily
Rate Monitoring
Independent
Editorial