Interest Rate | Payment |
---|---|
4.000% | $191 |
4.125% | $194 |
4.250% | $197 |
4.375% | $200 |
4.500% | $203 |
4.625% | $206 |
4.750% | $209 |
4.875% | $212 |
5.000% | $215 |
% Down | Amount | Payment |
---|---|---|
3.5% | $1,750 | $244 |
5.0% | $2,500 | $241 |
7.5% | $3,750 | $234 |
10% | $5,000 | $228 |
15% | $7,500 | $215 |
20% | $10,000 | $203 |
25% | $12,500 | $190 |
30% | $15,000 | $177 |
50% | $25,000 | $127 |
Length | Payment |
---|---|
10 years | $415 |
15 years | $306 |
20 years | $253 |
30 years | $203 |
40 years | $180 |
Interest only | $150 |
Mortgage Tips
Can I afford a $50,000 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 $50,000 with a 4.50% loan:
% Down | Down Payment | Income Required |
---|---|---|
3.5% | $1,750 | $14,049 |
5.0% | $2,500 | $13,886 |
7.5% | $3,750 | $13,615 |
10% | $5,000 | $13,343 |
15% | $7,500 | $12,800 |
20% | $10,000 | $12,257 |
25% | $12,500 | $11,715 |
30% | $15,000 | $11,172 |
50% | $25,000 | $9,000 |
State | Rank | Price |
---|---|---|
Alabama | 46 | $143,100 |
Alaska | 13 | $300,100 |
Arizona | 18 | $277,600 |
Arkansas | 48 | $130,900 |
California | 2 | $578,300 |
Colorado | 5 | $408,800 |
Connecticut | 21 | $259,900 |
Delaware | 22 | $257,500 |
Florida | 24 | $252,300 |
Georgia | 31 | $206,800 |
Hawaii | 1 | $642,500 |
Idaho | 15 | $298,300 |
Illinois | 32 | $204,800 |
Indiana | 41 | $158,700 |
Iowa | 42 | $154,700 |
Kansas | 43 | $153,900 |
Kentucky | 45 | $150,000 |
State | Rank | Price |
---|---|---|
Louisiana | 39 | $170,400 |
Maine | 25 | $249,600 |
Maryland | 10 | $313,000 |
Massachusetts | 3 | $433,900 |
Michigan | 38 | $177,000 |
Minnesota | 19 | $263,700 |
Mississippi | 49 | $127,500 |
Missouri | 40 | $165,700 |
Montana | 17 | $288,900 |
Nebraska | 37 | $178,900 |
Nevada | 11 | $309,700 |
New Hampshire | 14 | $299,300 |
New Jersey | 8 | $342,500 |
New Mexico | 28 | $210,100 |
New York | 9 | $328,700 |
North Carolina | 30 | $208,000 |
North Dakota | 26 | $237,500 |
State | Rank | Price |
---|---|---|
Ohio | 44 | $153,600 |
Oklahoma | 47 | $132,500 |
Oregon | 6 | $372,900 |
Pennsylvania | 34 | $198,400 |
Rhode Island | 12 | $308,700 |
South Carolina | 36 | $190,600 |
South Dakota | 29 | $209,700 |
Tennessee | 35 | $192,600 |
Texas | 27 | $211,200 |
Utah | 7 | $355,500 |
Vermont | 20 | $261,300 |
Virginia | 16 | $291,000 |
Washington | 4 | $428,900 |
West Virginia | 50 | $107,100 |
Wisconsin | 33 | $202,700 |
Wyoming | 23 | $256,100 |