Mortgage Payment on a $180,000 House
What's the payment on a $180,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $180k.
After a 20% down payment, your loan amount will be $144,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $934
Total yearly payments = $11,208
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$6,300 |
$1,127 |
| 5.0% |
$9,000 |
$1,109 |
| 7.5% |
$13,500 |
$1,080 |
| 10% |
$18,000 |
$1,051 |
| 15% |
$27,000 |
$992 |
| 20% |
$36,000 |
$934 |
| 25% |
$45,000 |
$876 |
| 30% |
$54,000 |
$817 |
| 50% |
$90,000 |
$584 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,653 |
| 15 years |
$1,274 |
| 20 years |
$1,095 |
| 30 years |
$934 |
| 40 years |
$869 |
| Interest only |
$810 |
Can I afford a $180,000 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 $180,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$6,300 |
$61,141 |
| 5.0% |
$9,000 |
$60,390 |
| 7.5% |
$13,500 |
$59,139 |
| 10% |
$18,000 |
$57,888 |
| 15% |
$27,000 |
$55,387 |
| 20% |
$36,000 |
$52,885 |
| 25% |
$45,000 |
$50,383 |
| 30% |
$54,000 |
$47,881 |
| 50% |
$90,000 |
$37,874 |