Mortgage Payment on a $137,000 House
What's the payment on a $137,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $137k.
After a 20% down payment, your loan amount will be $109,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $711
Total yearly payments = $8,530
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$4,795 |
$857 |
| 5.0% |
$6,850 |
$844 |
| 7.5% |
$10,275 |
$822 |
| 10% |
$13,700 |
$800 |
| 15% |
$20,550 |
$755 |
| 20% |
$27,400 |
$711 |
| 25% |
$34,250 |
$666 |
| 30% |
$41,100 |
$622 |
| 50% |
$68,500 |
$444 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,258 |
| 15 years |
$970 |
| 20 years |
$833 |
| 30 years |
$711 |
| 40 years |
$661 |
| Interest only |
$617 |
Can I afford a $137,000 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 $137,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$4,795 |
$46,535 |
| 5.0% |
$6,850 |
$45,964 |
| 7.5% |
$10,275 |
$45,012 |
| 10% |
$13,700 |
$44,059 |
| 15% |
$20,550 |
$42,155 |
| 20% |
$27,400 |
$40,251 |
| 25% |
$34,250 |
$38,347 |
| 30% |
$41,100 |
$36,443 |
| 50% |
$68,500 |
$28,827 |