$240,000 House at 5.00%

What's the monthly mortgage payment on a $240,000 house? Loan price for a $240,000 house with a 5.00% interest rate.
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Monthly payment = $1,031
Total yearly payments = $12,368
Payments by Interest Rate
Interest Rate Payment
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
5.375% $1,075
5.500% $1,090
Payments by Amount Down
% Down Amount Payment
3.5% $8,400 $1,243
5.0% $12,000 $1,224
7.5% $18,000 $1,192
10% $24,000 $1,160
15% $36,000 $1,095
20% $48,000 $1,031
25% $60,000 $966
30% $72,000 $902
50% $120,000 $644
Payments by Loan Length
Length Payment
10 years $2,036
15 years $1,518
20 years $1,267
30 years $1,031
40 years $926
Interest only $800

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 5.00% loan:

% Down Down Payment Income Required
3.5% $8,400 $70,426
5.0% $12,000 $69,598
7.5% $18,000 $68,218
10% $24,000 $66,837
15% $36,000 $64,076
20% $48,000 $61,316
25% $60,000 $58,555
30% $72,000 $55,794
50% $120,000 $44,751