Mortgage Payment on a $127,000 House
What's the payment on a $127,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $127k.
After a 20% down payment, your loan amount will be $101,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $659
Total yearly payments = $7,908
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$4,445 |
$795 |
| 5.0% |
$6,350 |
$783 |
| 7.5% |
$9,525 |
$762 |
| 10% |
$12,700 |
$741 |
| 15% |
$19,050 |
$700 |
| 20% |
$25,400 |
$659 |
| 25% |
$31,750 |
$618 |
| 30% |
$38,100 |
$577 |
| 50% |
$63,500 |
$412 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,167 |
| 15 years |
$899 |
| 20 years |
$773 |
| 30 years |
$659 |
| 40 years |
$613 |
| Interest only |
$572 |
Can I afford a $127,000 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 $127,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$4,445 |
$43,138 |
| 5.0% |
$6,350 |
$42,609 |
| 7.5% |
$9,525 |
$41,726 |
| 10% |
$12,700 |
$40,843 |
| 15% |
$19,050 |
$39,078 |
| 20% |
$25,400 |
$37,313 |
| 25% |
$31,750 |
$35,548 |
| 30% |
$38,100 |
$33,783 |
| 50% |
$63,500 |
$26,723 |