Mortgage Payment on a $252,000 House
What's the payment on a $252,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $252k.
After a 20% down payment, your loan amount will be $201,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,308
Total yearly payments = $15,691
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,082 |
| 5.500% |
$1,145 |
| 6.000% |
$1,209 |
| 6.250% |
$1,241 |
| 6.500% |
$1,274 |
| 6.750% |
$1,308 |
| 6.875% |
$1,324 |
| 7.000% |
$1,341 |
| 7.250% |
$1,375 |
| 7.500% |
$1,410 |
| 7.625% |
$1,427 |
| 7.750% |
$1,444 |
| 8.000% |
$1,479 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$8,820 |
$1,577 |
| 5.0% |
$12,600 |
$1,553 |
| 7.5% |
$18,900 |
$1,512 |
| 10% |
$25,200 |
$1,471 |
| 15% |
$37,800 |
$1,389 |
| 20% |
$50,400 |
$1,308 |
| 25% |
$63,000 |
$1,226 |
| 30% |
$75,600 |
$1,144 |
| 50% |
$126,000 |
$817 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$2,315 |
| 15 years |
$1,784 |
| 20 years |
$1,533 |
| 30 years |
$1,308 |
| 40 years |
$1,216 |
| Interest only |
$1,134 |
Can I afford a $252,000 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 $252,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$8,820 |
$85,597 |
| 5.0% |
$12,600 |
$84,546 |
| 7.5% |
$18,900 |
$82,795 |
| 10% |
$25,200 |
$81,044 |
| 15% |
$37,800 |
$77,541 |
| 20% |
$50,400 |
$74,039 |
| 25% |
$63,000 |
$70,536 |
| 30% |
$75,600 |
$67,034 |
| 50% |
$126,000 |
$53,024 |