Mortgage Payment on a $77,000 House
What's the payment on a $77,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $77k.
After a 20% down payment, your loan amount will be $61,600. With a 30-year loan loan at 6.75% interest:
Monthly payment = $400
Total yearly payments = $4,794
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$2,695 |
$482 |
| 5.0% |
$3,850 |
$474 |
| 7.5% |
$5,775 |
$462 |
| 10% |
$7,700 |
$449 |
| 15% |
$11,550 |
$425 |
| 20% |
$15,400 |
$400 |
| 25% |
$19,250 |
$375 |
| 30% |
$23,100 |
$350 |
| 50% |
$38,500 |
$250 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$707 |
| 15 years |
$545 |
| 20 years |
$468 |
| 30 years |
$400 |
| 40 years |
$372 |
| Interest only |
$347 |
Can I afford a $77,000 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 $77,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$2,695 |
$26,155 |
| 5.0% |
$3,850 |
$25,834 |
| 7.5% |
$5,775 |
$25,298 |
| 10% |
$7,700 |
$24,763 |
| 15% |
$11,550 |
$23,693 |
| 20% |
$15,400 |
$22,623 |
| 25% |
$19,250 |
$21,553 |
| 30% |
$23,100 |
$20,483 |
| 50% |
$38,500 |
$16,202 |