Mortgage Payment on a $169,000 House
What's the payment on a $169,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $169k.
After a 20% down payment, your loan amount will be $135,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $877
Total yearly payments = $10,523
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$5,915 |
$1,058 |
| 5.0% |
$8,450 |
$1,041 |
| 7.5% |
$12,675 |
$1,014 |
| 10% |
$16,900 |
$987 |
| 15% |
$25,350 |
$932 |
| 20% |
$33,800 |
$877 |
| 25% |
$42,250 |
$822 |
| 30% |
$50,700 |
$767 |
| 50% |
$84,500 |
$548 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,552 |
| 15 years |
$1,196 |
| 20 years |
$1,028 |
| 30 years |
$877 |
| 40 years |
$816 |
| Interest only |
$761 |
Can I afford a $169,000 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 $169,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$5,915 |
$57,404 |
| 5.0% |
$8,450 |
$56,700 |
| 7.5% |
$12,675 |
$55,525 |
| 10% |
$16,900 |
$54,351 |
| 15% |
$25,350 |
$52,002 |
| 20% |
$33,800 |
$49,653 |
| 25% |
$42,250 |
$47,304 |
| 30% |
$50,700 |
$44,955 |
| 50% |
$84,500 |
$35,560 |