Mortgage Payment on a $225,000 House
What's the payment on a $225,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $225k.
After a 20% down payment, your loan amount will be $180,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,167
Total yearly payments = $14,010
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$966 |
| 5.500% |
$1,022 |
| 6.000% |
$1,079 |
| 6.250% |
$1,108 |
| 6.500% |
$1,138 |
| 6.750% |
$1,167 |
| 6.875% |
$1,182 |
| 7.000% |
$1,198 |
| 7.250% |
$1,228 |
| 7.500% |
$1,259 |
| 7.625% |
$1,274 |
| 7.750% |
$1,290 |
| 8.000% |
$1,321 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$7,875 |
$1,408 |
| 5.0% |
$11,250 |
$1,386 |
| 7.5% |
$16,875 |
$1,350 |
| 10% |
$22,500 |
$1,313 |
| 15% |
$33,750 |
$1,240 |
| 20% |
$45,000 |
$1,167 |
| 25% |
$56,250 |
$1,095 |
| 30% |
$67,500 |
$1,022 |
| 50% |
$112,500 |
$730 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$2,067 |
| 15 years |
$1,593 |
| 20 years |
$1,369 |
| 30 years |
$1,167 |
| 40 years |
$1,086 |
| Interest only |
$1,013 |
Can I afford a $225,000 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 $225,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$7,875 |
$76,426 |
| 5.0% |
$11,250 |
$75,488 |
| 7.5% |
$16,875 |
$73,924 |
| 10% |
$22,500 |
$72,360 |
| 15% |
$33,750 |
$69,233 |
| 20% |
$45,000 |
$66,106 |
| 25% |
$56,250 |
$62,979 |
| 30% |
$67,500 |
$59,852 |
| 50% |
$112,500 |
$47,343 |