Mortgage Calculator: Here’s How Much You Need To Buy a $415,000 Home at a 6.30% Rate

Mortgage rates saw a slight reversal this week, as the average rate on 30-year fixed home loans edged up to 6.30% for the week ending April 30, according to Freddie Mac.

This 7-basis-point increase follows three consecutive weeks of declines and brings the rate back to where it sat in mid-April. Despite this uptick, current rates remain more favorable than the same period in 2025, when rates averaged 6.76%.

Here’s the monthly cost of purchasing a typical home today, according to the Realtor.com® mortgage calculator.

All examples assume a 30-year fixed mortgage and include principal and interest only, excluding property taxes, homeowners insurance, and mortgage insurance.

Monthly mortgage payment today with a 20% down payment

For a homebuyer eyeing the current median price of around $415,000, a 20% down payment results in a loan amount of $332,000.

At today’s 6.30% rate, the monthly principal and interest payment is approximately $2,055.

Compared to the 6.76% average from April 2025, which would have required a $2,155 monthly payment for a home at this price, today’s buyers are still saving $100 every single month.

Monthly mortgage payment today with a 3.5% down payment

The savings are also significant for those utilizing FHA loans with a 3.5% down payment.

On a $415,000 home, an FHA borrower would finance roughly $400,475. At today’s 6.30% rate, the monthly principal and interest payment comes to approximately $2,479.

This reflects a $19 increase from last week's monthly cost of $2,460.

When viewed against the 6.76% rates of April 2025, where the monthly payment for this loan amount sat at $2,600, today’s FHA borrowers are still keeping an extra $121 in their pockets every month. Looking back at the October 2023 peak of 7.79%, where the payment for a home at this price reached $2,876, the monthly savings remain significant at $397.

Long-term savings over 30 years

The long-term financial benefits of today's rates are still clear when looking at the total cost of the loan over 30 years.

A buyer with a 20% down payment at today’s 6.30% rate will pay a total of $739,800 in principal and interest over the life of the mortgage. This is a sharp contrast to the October 2023 peak of 7.79%, when the total cost for that same $332,000 loan would have reached $858,600.

By securing a mortgage at today’s rate instead of that peak, a homebuyer effectively avoids $118,800 in interest charges over the 30-year term.

FHA borrowers see a similar trajectory of long-term savings.

Financing the current median-priced home at today's 6.30% rate results in a lifetime payment of $892,440 for principal and interest. If that same loan had been locked in at the 7.79% peak in late 2023, the total cost would have climbed to $1,035,360.

This represents a total long-term savings of $142,920 for FHA buyers. While the slight rise in rates this week serves as a reminder of market volatility, the current 6.30% environment continues to offer meaningful savings compared to the record highs of the past few years.