Mortgage Payment on a $52,000 House
What's the payment on a $52,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $52k.
After a 20% down payment, your loan amount will be $41,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $270
Total yearly payments = $3,238
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$1,820 |
$325 |
| 5.0% |
$2,600 |
$320 |
| 7.5% |
$3,900 |
$312 |
| 10% |
$5,200 |
$304 |
| 15% |
$7,800 |
$287 |
| 20% |
$10,400 |
$270 |
| 25% |
$13,000 |
$253 |
| 30% |
$15,600 |
$236 |
| 50% |
$26,000 |
$169 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$478 |
| 15 years |
$368 |
| 20 years |
$316 |
| 30 years |
$270 |
| 40 years |
$251 |
| Interest only |
$234 |
Can I afford a $52,000 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 $52,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$1,820 |
$17,663 |
| 5.0% |
$2,600 |
$17,446 |
| 7.5% |
$3,900 |
$17,085 |
| 10% |
$5,200 |
$16,723 |
| 15% |
$7,800 |
$16,001 |
| 20% |
$10,400 |
$15,278 |
| 25% |
$13,000 |
$14,555 |
| 30% |
$15,600 |
$13,832 |
| 50% |
$26,000 |
$10,942 |