Mortgage Payment on a $165,000 House
What's the payment on a $165,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $165k.
After a 20% down payment, your loan amount will be $132,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $856
Total yearly payments = $10,274
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$5,775 |
$1,033 |
| 5.0% |
$8,250 |
$1,017 |
| 7.5% |
$12,375 |
$990 |
| 10% |
$16,500 |
$963 |
| 15% |
$24,750 |
$910 |
| 20% |
$33,000 |
$856 |
| 25% |
$41,250 |
$803 |
| 30% |
$49,500 |
$749 |
| 50% |
$82,500 |
$535 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,516 |
| 15 years |
$1,168 |
| 20 years |
$1,004 |
| 30 years |
$856 |
| 40 years |
$796 |
| Interest only |
$743 |
Can I afford a $165,000 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 $165,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$5,775 |
$56,046 |
| 5.0% |
$8,250 |
$55,358 |
| 7.5% |
$12,375 |
$54,211 |
| 10% |
$16,500 |
$53,064 |
| 15% |
$24,750 |
$50,771 |
| 20% |
$33,000 |
$48,478 |
| 25% |
$41,250 |
$46,185 |
| 30% |
$49,500 |
$43,891 |
| 50% |
$82,500 |
$34,718 |