Mortgage Payment on a $99,000 House
What's the payment on a $99,000 house? Calculate the monthly mortgage on a house, condo, or apartment which costs $99k.
After a 20% down payment, your loan amount will be $79,200. With a 30-year loan loan at 6.75% interest:
Monthly payment = $514
Total yearly payments = $6,164
Payments by Interest Rate
Payments by Amount Down
| % Down |
Amount |
Payment |
| 3.5% |
$3,465 |
$620 |
| 5.0% |
$4,950 |
$610 |
| 7.5% |
$7,425 |
$594 |
| 10% |
$9,900 |
$578 |
| 15% |
$14,850 |
$546 |
| 20% |
$19,800 |
$514 |
| 25% |
$24,750 |
$482 |
| 30% |
$29,700 |
$449 |
| 50% |
$49,500 |
$321 |
Payments by Loan Length
| Length |
Payment |
| 10 years |
$909 |
| 15 years |
$701 |
| 20 years |
$602 |
| 30 years |
$514 |
| 40 years |
$478 |
| Interest only |
$446 |
Can I afford a $99,000 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 $99,000 with a 6.75% loan:
| % Down |
Down Payment |
Income Needed |
| 3.5% |
$3,465 |
$33,627 |
| 5.0% |
$4,950 |
$33,215 |
| 7.5% |
$7,425 |
$32,527 |
| 10% |
$9,900 |
$31,839 |
| 15% |
$14,850 |
$30,463 |
| 20% |
$19,800 |
$29,087 |
| 25% |
$24,750 |
$27,711 |
| 30% |
$29,700 |
$26,335 |
| 50% |
$49,500 |
$20,831 |