Mortgage Payment on a $199,000 House
What's the payment on a $199,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $199k.
After a 20% down payment, your loan amount will be $159,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,033
Total yearly payments = $12,391
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$6,965 |
$1,246 |
| 5.0% |
$9,950 |
$1,226 |
| 7.5% |
$14,925 |
$1,194 |
| 10% |
$19,900 |
$1,162 |
| 15% |
$29,850 |
$1,097 |
| 20% |
$39,800 |
$1,033 |
| 25% |
$49,750 |
$968 |
| 30% |
$59,700 |
$903 |
| 50% |
$99,500 |
$645 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,828 |
| 15 years |
$1,409 |
| 20 years |
$1,210 |
| 30 years |
$1,033 |
| 40 years |
$961 |
| Interest only |
$896 |
Can I afford a $199,000 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 $199,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$6,965 |
$67,594 |
| 5.0% |
$9,950 |
$66,765 |
| 7.5% |
$14,925 |
$65,382 |
| 10% |
$19,900 |
$63,999 |
| 15% |
$29,850 |
$61,233 |
| 20% |
$39,800 |
$58,467 |
| 25% |
$49,750 |
$55,701 |
| 30% |
$59,700 |
$52,936 |
| 50% |
$99,500 |
$41,872 |