Mortgage Payment on a $75,000 House
What's the payment on a $75,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $75k.
After a 20% down payment, your loan amount will be $60,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $389
Total yearly payments = $4,670
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$2,625 |
$469 |
| 5.0% |
$3,750 |
$462 |
| 7.5% |
$5,625 |
$450 |
| 10% |
$7,500 |
$438 |
| 15% |
$11,250 |
$413 |
| 20% |
$15,000 |
$389 |
| 25% |
$18,750 |
$365 |
| 30% |
$22,500 |
$341 |
| 50% |
$37,500 |
$243 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$689 |
| 15 years |
$531 |
| 20 years |
$456 |
| 30 years |
$389 |
| 40 years |
$362 |
| Interest only |
$338 |
Can I afford a $75,000 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 $75,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$2,625 |
$25,475 |
| 5.0% |
$3,750 |
$25,163 |
| 7.5% |
$5,625 |
$24,641 |
| 10% |
$7,500 |
$24,120 |
| 15% |
$11,250 |
$23,078 |
| 20% |
$15,000 |
$22,035 |
| 25% |
$18,750 |
$20,993 |
| 30% |
$22,500 |
$19,951 |
| 50% |
$37,500 |
$15,781 |