What's the monthly mortgage payment on a $100,000 house? Loan price for a $100,000 house with a 5.00% interest rate.

Monthly payment = $429

Total yearly payments = $5,153

Payments by Interest Rate

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

4.500% | $405 |

4.625% | $411 |

4.750% | $417 |

4.875% | $423 |

5.000% | $429 |

5.125% | $436 |

5.250% | $442 |

5.375% | $448 |

5.500% | $454 |

Payments by Amount Down

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

3.5% | $3,500 | $518 |

5.0% | $5,000 | $510 |

7.5% | $7,500 | $497 |

10% | $10,000 | $483 |

15% | $15,000 | $456 |

20% | $20,000 | $429 |

25% | $25,000 | $403 |

30% | $30,000 | $376 |

50% | $50,000 | $268 |

Payments by Loan Length

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

10 years | $849 |

15 years | $633 |

20 years | $528 |

30 years | $429 |

40 years | $386 |

Interest only | $333 |

Can I afford a $100,000 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 $100,000 with a 5.00% loan:

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

3.5% | $3,500 | $29,344 |

5.0% | $5,000 | $28,999 |

7.5% | $7,500 | $28,424 |

10% | $10,000 | $27,849 |

15% | $15,000 | $26,699 |

20% | $20,000 | $25,548 |

25% | $25,000 | $24,398 |

30% | $30,000 | $23,248 |

50% | $50,000 | $18,646 |