Mortgage Payment on a $158,000 House
What's the payment on a $158,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $158k.
After a 20% down payment, your loan amount will be $126,400. With a 30-year loan loan at 6.75% interest:
Monthly payment = $820
Total yearly payments = $9,838
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$5,530 |
$989 |
| 5.0% |
$7,900 |
$974 |
| 7.5% |
$11,850 |
$948 |
| 10% |
$15,800 |
$922 |
| 15% |
$23,700 |
$871 |
| 20% |
$31,600 |
$820 |
| 25% |
$39,500 |
$769 |
| 30% |
$47,400 |
$717 |
| 50% |
$79,000 |
$512 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,451 |
| 15 years |
$1,119 |
| 20 years |
$961 |
| 30 years |
$820 |
| 40 years |
$763 |
| Interest only |
$711 |
Can I afford a $158,000 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 $158,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$5,530 |
$53,668 |
| 5.0% |
$7,900 |
$53,009 |
| 7.5% |
$11,850 |
$51,911 |
| 10% |
$15,800 |
$50,813 |
| 15% |
$23,700 |
$48,617 |
| 20% |
$31,600 |
$46,421 |
| 25% |
$39,500 |
$44,225 |
| 30% |
$47,400 |
$42,029 |
| 50% |
$79,000 |
$33,245 |