Mortgage Payment on a $90,000 House
What's the payment on a $90,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $90k.
After a 20% down payment, your loan amount will be $72,000. With a 30-year loan loan at 6.75% interest:
Monthly payment = $467
Total yearly payments = $5,604
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$3,150 |
$563 |
| 5.0% |
$4,500 |
$555 |
| 7.5% |
$6,750 |
$540 |
| 10% |
$9,000 |
$525 |
| 15% |
$13,500 |
$496 |
| 20% |
$18,000 |
$467 |
| 25% |
$22,500 |
$438 |
| 30% |
$27,000 |
$409 |
| 50% |
$45,000 |
$292 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$827 |
| 15 years |
$637 |
| 20 years |
$547 |
| 30 years |
$467 |
| 40 years |
$434 |
| Interest only |
$405 |
Can I afford a $90,000 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 $90,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$3,150 |
$30,570 |
| 5.0% |
$4,500 |
$30,195 |
| 7.5% |
$6,750 |
$29,570 |
| 10% |
$9,000 |
$28,944 |
| 15% |
$13,500 |
$27,693 |
| 20% |
$18,000 |
$26,442 |
| 25% |
$22,500 |
$25,192 |
| 30% |
$27,000 |
$23,941 |
| 50% |
$45,000 |
$18,937 |