Mortgage Calculator: What It Takes To Buy a $399,900 Home at a 6.01% Rate

Mortgage rates dropped to 6.01%, the lowest since late 2022, reducing monthly payments for a median-priced $399,950 home. Buyers with 20% down now pay about $1,921 monthly, $17 less than last week and $175 less than a year ago. FHA borrowers also save, paying $2,317 monthly, $20 less than last week and $212 less than last year. Over 30 years, buyers save up to $135,961 in interest, while FHA borrowers save $163,991 compared to peak rates.