| 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 |
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 |