Mortgage Payment on a $84,000 House
What's the payment on a $84,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $84k.
After a 20% down payment, your loan amount will be $67,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $436
Total yearly payments = $5,230
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$2,940 |
$526 |
| 5.0% |
$4,200 |
$518 |
| 7.5% |
$6,300 |
$504 |
| 10% |
$8,400 |
$490 |
| 15% |
$12,600 |
$463 |
| 20% |
$16,800 |
$436 |
| 25% |
$21,000 |
$409 |
| 30% |
$25,200 |
$381 |
| 50% |
$42,000 |
$272 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$772 |
| 15 years |
$595 |
| 20 years |
$511 |
| 30 years |
$436 |
| 40 years |
$405 |
| Interest only |
$378 |
Can I afford a $84,000 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 $84,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$2,940 |
$28,532 |
| 5.0% |
$4,200 |
$28,182 |
| 7.5% |
$6,300 |
$27,598 |
| 10% |
$8,400 |
$27,015 |
| 15% |
$12,600 |
$25,847 |
| 20% |
$16,800 |
$24,680 |
| 25% |
$21,000 |
$23,512 |
| 30% |
$25,200 |
$22,345 |
| 50% |
$42,000 |
$17,675 |