Mortgage Payment on a $214,000 House
What's the payment on a $214,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $214k.
After a 20% down payment, your loan amount will be $171,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,110
Total yearly payments = $13,325
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$919 |
| 5.500% |
$972 |
| 6.000% |
$1,026 |
| 6.250% |
$1,054 |
| 6.500% |
$1,082 |
| 6.750% |
$1,110 |
| 6.875% |
$1,125 |
| 7.000% |
$1,139 |
| 7.250% |
$1,168 |
| 7.500% |
$1,197 |
| 7.625% |
$1,212 |
| 7.750% |
$1,226 |
| 8.000% |
$1,256 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$7,490 |
$1,339 |
| 5.0% |
$10,700 |
$1,319 |
| 7.5% |
$16,050 |
$1,284 |
| 10% |
$21,400 |
$1,249 |
| 15% |
$32,100 |
$1,180 |
| 20% |
$42,800 |
$1,110 |
| 25% |
$53,500 |
$1,041 |
| 30% |
$64,200 |
$972 |
| 50% |
$107,000 |
$694 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,966 |
| 15 years |
$1,515 |
| 20 years |
$1,302 |
| 30 years |
$1,110 |
| 40 years |
$1,033 |
| Interest only |
$963 |
Can I afford a $214,000 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 $214,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$7,490 |
$72,689 |
| 5.0% |
$10,700 |
$71,797 |
| 7.5% |
$16,050 |
$70,310 |
| 10% |
$21,400 |
$68,823 |
| 15% |
$32,100 |
$65,849 |
| 20% |
$42,800 |
$62,874 |
| 25% |
$53,500 |
$59,900 |
| 30% |
$64,200 |
$56,926 |
| 50% |
$107,000 |
$45,029 |