Mortgage Payment on a $126,000 House
What's the payment on a $126,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $126k.
After a 20% down payment, your loan amount will be $100,800. With a 30-year loan loan at 6.75% interest:
Monthly payment = $654
Total yearly payments = $7,845
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$4,410 |
$789 |
| 5.0% |
$6,300 |
$776 |
| 7.5% |
$9,450 |
$756 |
| 10% |
$12,600 |
$736 |
| 15% |
$18,900 |
$695 |
| 20% |
$25,200 |
$654 |
| 25% |
$31,500 |
$613 |
| 30% |
$37,800 |
$572 |
| 50% |
$63,000 |
$409 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,157 |
| 15 years |
$892 |
| 20 years |
$766 |
| 30 years |
$654 |
| 40 years |
$608 |
| Interest only |
$567 |
Can I afford a $126,000 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 $126,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$4,410 |
$42,798 |
| 5.0% |
$6,300 |
$42,273 |
| 7.5% |
$9,450 |
$41,397 |
| 10% |
$12,600 |
$40,522 |
| 15% |
$18,900 |
$38,771 |
| 20% |
$25,200 |
$37,019 |
| 25% |
$31,500 |
$35,268 |
| 30% |
$37,800 |
$33,517 |
| 50% |
$63,000 |
$26,512 |