$20,000 House at 5.00%

What's the monthly mortgage payment on a $20,000 house? Loan price for a $20,000 house with a 5.00% interest rate.
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Monthly payment = $86
Total yearly payments = $1,031
Payments by Interest Rate
Interest Rate Payment
4.500% $81
4.625% $82
4.750% $83
4.875% $85
5.000% $86
5.125% $87
5.250% $88
5.375% $90
5.500% $91
Payments by Amount Down
% Down Amount Payment
3.5% $700 $104
5.0% $1,000 $102
7.5% $1,500 $99
10% $2,000 $97
15% $3,000 $91
20% $4,000 $86
25% $5,000 $81
30% $6,000 $75
50% $10,000 $54
Payments by Loan Length
Length Payment
10 years $170
15 years $127
20 years $106
30 years $86
40 years $77
Interest only $67

Can I afford a $20,000 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 $20,000 with a 5.00% loan:

% Down Down Payment Income Required
3.5% $700 $5,869
5.0% $1,000 $5,800
7.5% $1,500 $5,685
10% $2,000 $5,570
15% $3,000 $5,340
20% $4,000 $5,110
25% $5,000 $4,880
30% $6,000 $4,650
50% $10,000 $3,729