Mortgage Payment on a $154,000 House
What's the payment on a $154,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $154k.
After a 20% down payment, your loan amount will be $123,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $799
Total yearly payments = $9,589
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$5,390 |
$964 |
| 5.0% |
$7,700 |
$949 |
| 7.5% |
$11,550 |
$924 |
| 10% |
$15,400 |
$899 |
| 15% |
$23,100 |
$849 |
| 20% |
$30,800 |
$799 |
| 25% |
$38,500 |
$749 |
| 30% |
$46,200 |
$699 |
| 50% |
$77,000 |
$499 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,415 |
| 15 years |
$1,090 |
| 20 years |
$937 |
| 30 years |
$799 |
| 40 years |
$743 |
| Interest only |
$693 |
Can I afford a $154,000 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 $154,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$5,390 |
$52,309 |
| 5.0% |
$7,700 |
$51,667 |
| 7.5% |
$11,550 |
$50,597 |
| 10% |
$15,400 |
$49,527 |
| 15% |
$23,100 |
$47,386 |
| 20% |
$30,800 |
$45,246 |
| 25% |
$38,500 |
$43,106 |
| 30% |
$46,200 |
$40,965 |
| 50% |
$77,000 |
$32,404 |