Mortgage Payment on a $151,000 House
What's the payment on a $151,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $151k.
After a 20% down payment, your loan amount will be $120,800. With a 30-year loan loan at 6.75% interest:
Monthly payment = $784
Total yearly payments = $9,402
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$5,285 |
$945 |
| 5.0% |
$7,550 |
$930 |
| 7.5% |
$11,325 |
$906 |
| 10% |
$15,100 |
$881 |
| 15% |
$22,650 |
$832 |
| 20% |
$30,200 |
$784 |
| 25% |
$37,750 |
$735 |
| 30% |
$45,300 |
$686 |
| 50% |
$75,500 |
$490 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,387 |
| 15 years |
$1,069 |
| 20 years |
$919 |
| 30 years |
$784 |
| 40 years |
$729 |
| Interest only |
$680 |
Can I afford a $151,000 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 $151,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$5,285 |
$51,290 |
| 5.0% |
$7,550 |
$50,661 |
| 7.5% |
$11,325 |
$49,611 |
| 10% |
$15,100 |
$48,562 |
| 15% |
$22,650 |
$46,463 |
| 20% |
$30,200 |
$44,365 |
| 25% |
$37,750 |
$42,266 |
| 30% |
$45,300 |
$40,167 |
| 50% |
$75,500 |
$31,772 |