Mortgage Payment on a $259,000 House
What's the payment on a $259,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $259k.
After a 20% down payment, your loan amount will be $207,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,344
Total yearly payments = $16,127
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,112 |
| 5.500% |
$1,176 |
| 6.000% |
$1,242 |
| 6.250% |
$1,276 |
| 6.500% |
$1,310 |
| 6.750% |
$1,344 |
| 6.875% |
$1,361 |
| 7.000% |
$1,379 |
| 7.250% |
$1,413 |
| 7.500% |
$1,449 |
| 7.625% |
$1,467 |
| 7.750% |
$1,484 |
| 8.000% |
$1,520 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$9,065 |
$1,621 |
| 5.0% |
$12,950 |
$1,596 |
| 7.5% |
$19,425 |
$1,554 |
| 10% |
$25,900 |
$1,512 |
| 15% |
$38,850 |
$1,428 |
| 20% |
$51,800 |
$1,344 |
| 25% |
$64,750 |
$1,260 |
| 30% |
$77,700 |
$1,176 |
| 50% |
$129,500 |
$840 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$2,379 |
| 15 years |
$1,834 |
| 20 years |
$1,575 |
| 30 years |
$1,344 |
| 40 years |
$1,250 |
| Interest only |
$1,166 |
Can I afford a $259,000 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 $259,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$9,065 |
$87,975 |
| 5.0% |
$12,950 |
$86,895 |
| 7.5% |
$19,425 |
$85,095 |
| 10% |
$25,900 |
$83,295 |
| 15% |
$38,850 |
$79,695 |
| 20% |
$51,800 |
$76,096 |
| 25% |
$64,750 |
$72,496 |
| 30% |
$77,700 |
$68,896 |
| 50% |
$129,500 |
$54,497 |