$240,000 House at 4.75%

What's the monthly mortgage payment on a $240,000 house? Loan price for a $240,000 house with a 4.75% interest rate.
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Monthly payment = $1,002
Total yearly payments = $12,019
Payments by Interest Rate
Interest Rate Payment
4.250% $945
4.375% $959
4.500% $973
4.625% $987
4.750% $1,002
4.875% $1,016
5.000% $1,031
5.125% $1,045
5.250% $1,060
Payments by Amount Down
% Down Amount Payment
3.5% $8,400 $1,208
5.0% $12,000 $1,189
7.5% $18,000 $1,158
10% $24,000 $1,127
15% $36,000 $1,064
20% $48,000 $1,002
25% $60,000 $939
30% $72,000 $876
50% $120,000 $626
Payments by Loan Length
Length Payment
10 years $2,013
15 years $1,493
20 years $1,241
30 years $1,002
40 years $894
Interest only $760

Can I afford a $240,000 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 $240,000 with a 4.75% loan:

% Down Down Payment Income Required
3.5% $8,400 $68,920
5.0% $12,000 $68,115
7.5% $18,000 $66,774
10% $24,000 $65,432
15% $36,000 $62,750
20% $48,000 $60,067
25% $60,000 $57,384
30% $72,000 $54,701
50% $120,000 $43,970