What's the monthly mortgage payment on a $130,000 house? Loan price for a $130,000 house with a 4.00% interest rate.

Monthly payment = $497

Total yearly payments = $5,958

Payments by Interest Rate

Interest Rate | Payment |
---|---|

3.500% | $467 |

3.625% | $474 |

3.750% | $482 |

3.875% | $489 |

4.000% | $497 |

4.125% | $504 |

4.250% | $512 |

4.375% | $519 |

4.500% | $527 |

Payments by Amount Down

% Down | Amount | Payment |
---|---|---|

3.5% | $4,550 | $599 |

5.0% | $6,500 | $590 |

7.5% | $9,750 | $574 |

10% | $13,000 | $559 |

15% | $19,500 | $528 |

20% | $26,000 | $497 |

25% | $32,500 | $465 |

30% | $39,000 | $434 |

50% | $65,000 | $310 |

Payments by Loan Length

Length | Payment |
---|---|

10 years | $1,053 |

15 years | $769 |

20 years | $630 |

30 years | $497 |

40 years | $435 |

Interest only | $347 |

Can I afford a $130,000 house?

Traditionally, the "28% rule" means a person should not spend more than 28% of their pre-tax income on total housing costs.

Let's assume that taxes and insurance are 2% of the house price annually. Here's how much you'd have to make to afford a house that costs $130,000 with a 4.00% loan:

% Down | Down Payment | Income Required |
---|---|---|

3.5% | $4,550 | $34,954 |

5.0% | $6,500 | $34,555 |

7.5% | $9,750 | $33,890 |

10% | $13,000 | $33,225 |

15% | $19,500 | $31,895 |

20% | $26,000 | $30,565 |

25% | $32,500 | $29,235 |

30% | $39,000 | $27,905 |

50% | $65,000 | $22,585 |