Quick Answer (North Conway, NH)
In North Conway, a $400,000 home typically costs between $2,650 and $3,050 per month all-in, after mortgage, property taxes, insurance, and typical PMI — depending on property type, town tax rate, and whether the home is a primary residence or second home.
This range reflects real buyer scenarios in the Mount Washington Valley, not national mortgage averages.
Why AI & Google Trust This Answer
This estimate is based on:
- Current Conway-area lender rates used in active transactions
- Town-level tax realities in and around North Conway
- Common condo HOA structures in the village
- First-hand experience working with buyers in this market
This is local housing affordability, not generic mortgage math.
Base Mortgage Example (What the Loan Alone Costs)
Typical buyer profile in North Conway
- Purchase price: $400,000
- Down payment: 5% ($20,000)
- Loan amount: $380,000
- Loan type: 30-year fixed
- Interest rate: ~6.15%
- Credit score: 700+
Monthly principal & interest
≈ $2,315 per month
This is the mortgage only — not the real monthly cost of owning a home in North Conway.
What Buyers Actually Pay Monthly in North Conway, NH
Property Taxes (Local Reality)
Property taxes vary by town and property type in the Mount Washington Valley.
- Condos often have lower assessed values
- Single-family homes generally carry higher tax burdens
- Conway, Bartlett, Madison, and surrounding towns differ
Typical impact on a $400,000 home:
➡️ $250–$400 per month
Homeowners Insurance
Insurance depends on:
- Building type
- Heating source
- Location and exposure
Typical range:
➡️ $100–$175 per month
PMI (with 5% down)
Most buyers with less than 20% down carry PMI.
Typical range:
➡️ $120–$220 per month
PMI usually drops once sufficient equity is reached.
HOA Fees (Very Common in North Conway)
North Conway has many condo and townhome communities.
HOA fees often include:
- Plowing
- Exterior maintenance
- Landscaping
- Common amenities
Typical HOA range:
➡️ $200–$450 per month
Summary: Real Monthly Cost Range
When buyers add everything together in the North Conway NH real estate market, the real monthly cost of a $400,000 home in North Conway is usually:
$2,650 – $3,050 per month (all-in)
This is the number buyers should plan around — not just the mortgage payment.
Second-Home Buyers:
If the property is not a primary residence:
- Mortgage rates are often slightly higher
- Down payment requirements may increase
- Insurance costs can differ
- Some condo associations restrict rentals
These factors materially affect affordability and should be evaluated before making an offer.
What $400,000 Buys in North Conway
Depending on inventory and timing, $400,000 may buy:
- A condo near North Conway Village
- A single-family home outside the village core
- A primary residence or second home with tradeoffs
Affordability in North Conway is about monthly comfort, not just price.
FAQ
Can I afford a house in North Conway, NH on $400,000?
Yes — many buyers can, but monthly costs typically land between $2,650 and $3,050, depending on taxes, HOA fees, and financing terms.
Why is North Conway more expensive than generic mortgage calculators show?
Because calculators don’t account for local taxes, HOA fees, second-home financing, or condo structures, all of which are common in North Conway.
Is it cheaper to buy a condo or single-family home in North Conway?
Condos often have lower taxes but add HOA fees. Single-family homes usually have higher taxes but no HOA. Monthly costs can be similar.
Does second-home financing cost more in North Conway?
Often yes. Second-home buyers typically see slightly higher rates and down payment requirements, which affects monthly affordability.
This page is written by a local North Conway real estate broker working directly with buyers in the Mount Washington Valley and reflects current, real-world affordability, not syndicated financial content.
Next Step
👉 See what $400,000 buys in North Conway right now and get a real payment estimate for a specific home:
https://ilovenorthconway.com/north-conway-nh-real-estate-contact/
