$40,000 House at 5.00%

What's the monthly mortgage payment on a $40,000 house? Loan price for a $40,000 house with a 5.00% interest rate.
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Monthly payment = $172
Total yearly payments = $2,061
Payments by Interest Rate
Interest Rate Payment
4.500% $162
4.625% $165
4.750% $167
4.875% $169
5.000% $172
5.125% $174
5.250% $177
5.375% $179
5.500% $182
Payments by Amount Down
% Down Amount Payment
3.5% $1,400 $207
5.0% $2,000 $204
7.5% $3,000 $199
10% $4,000 $193
15% $6,000 $183
20% $8,000 $172
25% $10,000 $161
30% $12,000 $150
50% $20,000 $107
Payments by Loan Length
Length Payment
10 years $339
15 years $253
20 years $211
30 years $172
40 years $154
Interest only $133

Can I afford a $40,000 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 $40,000 with a 5.00% loan:

% Down Down Payment Income Required
3.5% $1,400 $11,738
5.0% $2,000 $11,600
7.5% $3,000 $11,370
10% $4,000 $11,140
15% $6,000 $10,679
20% $8,000 $10,219
25% $10,000 $9,759
30% $12,000 $9,299
50% $20,000 $7,458