Mortgage Payment on a $177,000 House
What's the payment on a $177,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $177k.
After a 20% down payment, your loan amount will be $141,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $918
Total yearly payments = $11,021
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$6,195 |
$1,108 |
| 5.0% |
$8,850 |
$1,091 |
| 7.5% |
$13,275 |
$1,062 |
| 10% |
$17,700 |
$1,033 |
| 15% |
$26,550 |
$976 |
| 20% |
$35,400 |
$918 |
| 25% |
$44,250 |
$861 |
| 30% |
$53,100 |
$804 |
| 50% |
$88,500 |
$574 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,626 |
| 15 years |
$1,253 |
| 20 years |
$1,077 |
| 30 years |
$918 |
| 40 years |
$854 |
| Interest only |
$797 |
Can I afford a $177,000 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 $177,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$6,195 |
$60,122 |
| 5.0% |
$8,850 |
$59,384 |
| 7.5% |
$13,275 |
$58,154 |
| 10% |
$17,700 |
$56,924 |
| 15% |
$26,550 |
$54,464 |
| 20% |
$35,400 |
$52,003 |
| 25% |
$44,250 |
$49,543 |
| 30% |
$53,100 |
$47,083 |
| 50% |
$88,500 |
$37,243 |