Mortgage Payment on a $217,000 House
What's the payment on a $217,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $217k.
After a 20% down payment, your loan amount will be $173,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,126
Total yearly payments = $13,512
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$932 |
| 5.500% |
$986 |
| 6.000% |
$1,041 |
| 6.250% |
$1,069 |
| 6.500% |
$1,097 |
| 6.750% |
$1,126 |
| 6.875% |
$1,140 |
| 7.000% |
$1,155 |
| 7.250% |
$1,184 |
| 7.500% |
$1,214 |
| 7.625% |
$1,229 |
| 7.750% |
$1,244 |
| 8.000% |
$1,274 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$7,595 |
$1,358 |
| 5.0% |
$10,850 |
$1,337 |
| 7.5% |
$16,275 |
$1,302 |
| 10% |
$21,700 |
$1,267 |
| 15% |
$32,550 |
$1,196 |
| 20% |
$43,400 |
$1,126 |
| 25% |
$54,250 |
$1,056 |
| 30% |
$65,100 |
$985 |
| 50% |
$108,500 |
$704 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$1,993 |
| 15 years |
$1,536 |
| 20 years |
$1,320 |
| 30 years |
$1,126 |
| 40 years |
$1,047 |
| Interest only |
$977 |
Can I afford a $217,000 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 $217,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$7,595 |
$73,708 |
| 5.0% |
$10,850 |
$72,804 |
| 7.5% |
$16,275 |
$71,296 |
| 10% |
$21,700 |
$69,788 |
| 15% |
$32,550 |
$66,772 |
| 20% |
$43,400 |
$63,756 |
| 25% |
$54,250 |
$60,740 |
| 30% |
$65,100 |
$57,724 |
| 50% |
$108,500 |
$45,660 |