$60,000 House at 5.00%

What's the monthly mortgage payment on a $60,000 house? Loan price for a $60,000 house with a 5.00% interest rate.
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Monthly payment = $258
Total yearly payments = $3,092
Payments by Interest Rate
Interest Rate Payment
4.500% $243
4.625% $247
4.750% $250
4.875% $254
5.000% $258
5.125% $261
5.250% $265
5.375% $269
5.500% $273
Payments by Amount Down
% Down Amount Payment
3.5% $2,100 $311
5.0% $3,000 $306
7.5% $4,500 $298
10% $6,000 $290
15% $9,000 $274
20% $12,000 $258
25% $15,000 $242
30% $18,000 $225
50% $30,000 $161
Payments by Loan Length
Length Payment
10 years $509
15 years $380
20 years $317
30 years $258
40 years $231
Interest only $200

Can I afford a $60,000 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 $60,000 with a 5.00% loan:

% Down Down Payment Income Required
3.5% $2,100 $17,607
5.0% $3,000 $17,399
7.5% $4,500 $17,054
10% $6,000 $16,709
15% $9,000 $16,019
20% $12,000 $15,329
25% $15,000 $14,639
30% $18,000 $13,949
50% $30,000 $11,188