Mortgage Payment on a $272,000 House
What's the payment on a $272,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $272k.
After a 20% down payment, your loan amount will be $217,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $1,411
Total yearly payments = $16,936
Payments by Interest Rate
| Interest Rate |
Payment |
| 5.000% |
$1,168 |
| 5.500% |
$1,236 |
| 6.000% |
$1,305 |
| 6.250% |
$1,340 |
| 6.500% |
$1,375 |
| 6.750% |
$1,411 |
| 6.875% |
$1,429 |
| 7.000% |
$1,448 |
| 7.250% |
$1,484 |
| 7.500% |
$1,521 |
| 7.625% |
$1,540 |
| 7.750% |
$1,559 |
| 8.000% |
$1,597 |
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$9,520 |
$1,702 |
| 5.0% |
$13,600 |
$1,676 |
| 7.5% |
$20,400 |
$1,632 |
| 10% |
$27,200 |
$1,588 |
| 15% |
$40,800 |
$1,500 |
| 20% |
$54,400 |
$1,411 |
| 25% |
$68,000 |
$1,323 |
| 30% |
$81,600 |
$1,235 |
| 50% |
$136,000 |
$882 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$2,499 |
| 15 years |
$1,926 |
| 20 years |
$1,655 |
| 30 years |
$1,411 |
| 40 years |
$1,313 |
| Interest only |
$1,224 |
Can I afford a $272,000 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 $272,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$9,520 |
$92,390 |
| 5.0% |
$13,600 |
$91,256 |
| 7.5% |
$20,400 |
$89,366 |
| 10% |
$27,200 |
$87,476 |
| 15% |
$40,800 |
$83,695 |
| 20% |
$54,400 |
$79,915 |
| 25% |
$68,000 |
$76,135 |
| 30% |
$81,600 |
$72,354 |
| 50% |
$136,000 |
$57,233 |