Mortgage Payment on a $209,000 House
What's the payment on a $209,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $209k.
After a 20% down payment, your loan amount will be $167,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,084
Total yearly payments = $13,013
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$898 |
| 5.500% |
$949 |
| 6.000% |
$1,002 |
| 6.250% |
$1,029 |
| 6.500% |
$1,057 |
| 6.750% |
$1,084 |
| 6.875% |
$1,098 |
| 7.000% |
$1,112 |
| 7.250% |
$1,141 |
| 7.500% |
$1,169 |
| 7.625% |
$1,183 |
| 7.750% |
$1,198 |
| 8.000% |
$1,227 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$7,315 |
$1,308 |
| 5.0% |
$10,450 |
$1,288 |
| 7.5% |
$15,675 |
$1,254 |
| 10% |
$20,900 |
$1,220 |
| 15% |
$31,350 |
$1,152 |
| 20% |
$41,800 |
$1,084 |
| 25% |
$52,250 |
$1,017 |
| 30% |
$62,700 |
$949 |
| 50% |
$104,500 |
$678 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,920 |
| 15 years |
$1,480 |
| 20 years |
$1,271 |
| 30 years |
$1,084 |
| 40 years |
$1,009 |
| Interest only |
$941 |
Can I afford a $209,000 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 $209,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$7,315 |
$70,991 |
| 5.0% |
$10,450 |
$70,120 |
| 7.5% |
$15,675 |
$68,667 |
| 10% |
$20,900 |
$67,215 |
| 15% |
$31,350 |
$64,310 |
| 20% |
$41,800 |
$61,405 |
| 25% |
$52,250 |
$58,500 |
| 30% |
$62,700 |
$55,596 |
| 50% |
$104,500 |
$43,977 |