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Connecticut mortgage calculator

The median home in Connecticut runs about $400,000. With 20% down that's a loan near $320,000 — the calculator is pre-filled with that figure. Connecticut's effective property tax rate is among the ten highest in the country and varies widely by town, so two similar homes a few miles apart can carry very different bills. Homes sell quickly in the current market.

$2,077.64 / month

Total interest
$427,952
Total paid
$747,952
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$80k$160k$240k$320k0612182430Year

How it works

A full Connecticut payment is more than principal and interest. At the state's 1.79% effective property tax rate, a $400,000 home owes about $7,160 a year in tax, and homeowners insurance averages roughly $1,600 a year here. Together those add about $730 to the monthly payment before any HOA dues or PMI.

Connecticut's median household income is about $91,000, or $7,583 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,123 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Connecticut sell in about 25 days on average.

Frequently asked questions

What is a typical mortgage payment in Connecticut?
On the state's roughly $400,000 median home with 20% down, the loan is about $320,000. Principal and interest depend on your rate; on top of that, Connecticut's 1.79% effective property tax rate and about $1,600 a year in homeowners insurance add roughly $730 per month to the payment.
How much are property taxes on a home in Connecticut?
Connecticut's effective property tax rate averages about 1.79% of market value — roughly $7,160 a year on the $400,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Connecticut?
The average Connecticut homeowners policy runs about $1,600 a year. Connecticut's effective property tax rate is among the ten highest in the country and varies widely by town, so two similar homes a few miles apart can carry very different bills. Homes sell quickly in the current market.
Can I afford a home in Connecticut on the median income?
Connecticut's median household income is about $91,000 a year, or $7,583 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,123 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Connecticut?
A for-sale home in Connecticut spends about 25 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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