Mortgage Payment on a $73,000 House
What's the payment on a $73,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $73k.
After a 20% down payment, your loan amount will be $58,400. With a 30-year loan loan at 6.75% interest:
Monthly payment = $379
Total yearly payments = $4,545
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$2,555 |
$457 |
| 5.0% |
$3,650 |
$450 |
| 7.5% |
$5,475 |
$438 |
| 10% |
$7,300 |
$426 |
| 15% |
$10,950 |
$402 |
| 20% |
$14,600 |
$379 |
| 25% |
$18,250 |
$355 |
| 30% |
$21,900 |
$331 |
| 50% |
$36,500 |
$237 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$671 |
| 15 years |
$517 |
| 20 years |
$444 |
| 30 years |
$379 |
| 40 years |
$352 |
| Interest only |
$329 |
Can I afford a $73,000 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 $73,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$2,555 |
$24,796 |
| 5.0% |
$3,650 |
$24,492 |
| 7.5% |
$5,475 |
$23,984 |
| 10% |
$7,300 |
$23,477 |
| 15% |
$10,950 |
$22,462 |
| 20% |
$14,600 |
$21,448 |
| 25% |
$18,250 |
$20,433 |
| 30% |
$21,900 |
$19,419 |
| 50% |
$36,500 |
$15,360 |