Mortgage Payment on a $65,000 House
What's the payment on a $65,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $65k.
After a 20% down payment, your loan amount will be $52,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $337
Total yearly payments = $4,047
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$2,275 |
$407 |
| 5.0% |
$3,250 |
$401 |
| 7.5% |
$4,875 |
$390 |
| 10% |
$6,500 |
$379 |
| 15% |
$9,750 |
$358 |
| 20% |
$13,000 |
$337 |
| 25% |
$16,250 |
$316 |
| 30% |
$19,500 |
$295 |
| 50% |
$32,500 |
$211 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$597 |
| 15 years |
$460 |
| 20 years |
$395 |
| 30 years |
$337 |
| 40 years |
$314 |
| Interest only |
$293 |
Can I afford a $65,000 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 $65,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$2,275 |
$22,079 |
| 5.0% |
$3,250 |
$21,808 |
| 7.5% |
$4,875 |
$21,356 |
| 10% |
$6,500 |
$20,904 |
| 15% |
$9,750 |
$20,001 |
| 20% |
$13,000 |
$19,097 |
| 25% |
$16,250 |
$18,194 |
| 30% |
$19,500 |
$17,291 |
| 50% |
$32,500 |
$13,677 |