Mortgage Payment on a $123,000 House

What's the payment on a $123,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $123k.
Home price
$
Percent down
%
24,600
Interest rate
%
Loan term
After a 20% down payment, your loan amount will be $98,400. With a 30-year loan loan at 6.75% interest:
Monthly payment = $638
Total yearly payments = $7,659
Payments by Interest Rate
Interest Rate Payment
5.000% $528
5.500% $559
6.000% $590
6.250% $606
6.500% $622
6.750% $638
6.875% $646
7.000% $655
7.250% $671
7.500% $688
7.625% $696
7.750% $705
8.000% $722
Payments by Amount Down
% Down Amount Payment
3.5% $4,305 $770
5.0% $6,150 $758
7.5% $9,225 $738
10% $12,300 $718
15% $18,450 $678
20% $24,600 $638
25% $30,750 $598
30% $36,900 $558
50% $61,500 $399
Payments by Loan Length
Length Payment
10 years $1,130
15 years $871
20 years $748
30 years $638
40 years $594
Interest only $554
Can I afford a $123,000 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 $123,000 with a 6.75% loan:
% Down Down Payment Income Needed
3.5% $4,305 $41,779
5.0% $6,150 $41,267
7.5% $9,225 $40,412
10% $12,300 $39,557
15% $18,450 $37,848
20% $24,600 $36,138
25% $30,750 $34,429
30% $36,900 $32,719
50% $61,500 $25,881