Mortgage Payment on a $147,000 House
What's the payment on a $147,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $147k.
After a 20% down payment, your loan amount will be $117,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $763
Total yearly payments = $9,153
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$5,145 |
$920 |
| 5.0% |
$7,350 |
$906 |
| 7.5% |
$11,025 |
$882 |
| 10% |
$14,700 |
$858 |
| 15% |
$22,050 |
$810 |
| 20% |
$29,400 |
$763 |
| 25% |
$36,750 |
$715 |
| 30% |
$44,100 |
$667 |
| 50% |
$73,500 |
$477 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,350 |
| 15 years |
$1,041 |
| 20 years |
$894 |
| 30 years |
$763 |
| 40 years |
$710 |
| Interest only |
$662 |
Can I afford a $147,000 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 $147,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$5,145 |
$49,932 |
| 5.0% |
$7,350 |
$49,319 |
| 7.5% |
$11,025 |
$48,297 |
| 10% |
$14,700 |
$47,276 |
| 15% |
$22,050 |
$45,232 |
| 20% |
$29,400 |
$43,189 |
| 25% |
$36,750 |
$41,146 |
| 30% |
$44,100 |
$39,103 |
| 50% |
$73,500 |
$30,931 |