Mortgage Payment on a $140,000 House
What's the payment on a $140,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $140k.
After a 20% down payment, your loan amount will be $112,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $726
Total yearly payments = $8,717
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$4,900 |
$876 |
| 5.0% |
$7,000 |
$863 |
| 7.5% |
$10,500 |
$840 |
| 10% |
$14,000 |
$817 |
| 15% |
$21,000 |
$772 |
| 20% |
$28,000 |
$726 |
| 25% |
$35,000 |
$681 |
| 30% |
$42,000 |
$636 |
| 50% |
$70,000 |
$454 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,286 |
| 15 years |
$991 |
| 20 years |
$852 |
| 30 years |
$726 |
| 40 years |
$676 |
| Interest only |
$630 |
Can I afford a $140,000 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 $140,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$4,900 |
$47,554 |
| 5.0% |
$7,000 |
$46,970 |
| 7.5% |
$10,500 |
$45,997 |
| 10% |
$14,000 |
$45,024 |
| 15% |
$21,000 |
$43,079 |
| 20% |
$28,000 |
$41,133 |
| 25% |
$35,000 |
$39,187 |
| 30% |
$42,000 |
$37,241 |
| 50% |
$70,000 |
$29,458 |