Payment by interest rate
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $536.82 | $659.96 | $790.79 |
| 5.25% | $552.20 | $673.84 | $803.88 |
| 5.50% | $567.79 | $687.89 | $817.08 |
| 5.75% | $583.57 | $702.08 | $830.41 |
| 6.00% | $599.55 | $716.43 | $843.86 |
| 6.25% | $615.72 | $730.93 | $857.42 |
| 6.50% | $632.07 | $745.57 | $871.11 |
| 6.75% | $648.60 | $760.36 | $884.91 |
| 7.00% | $665.30 | $775.30 | $898.83 |
| 7.25% | $682.18 | $790.38 | $912.86 |
| 7.50% | $699.21 | $805.59 | $927.01 |
| 7.75% | $716.41 | $820.95 | $941.28 |
| 8.00% | $733.76 | $836.44 | $955.65 |
These are principal and interest only. Property tax, homeowners insurance, PMI (if you put less than 20% down) and HOA dues are added to the real monthly cost. The mortgage calculator includes all of them.
Income needed for a $100k mortgage
Many lenders want the full housing payment under about 28% of gross monthly income. With a 6.5% rate, property tax around 1.2% a year and roughly $150 a month of insurance, the payment is about $882, which points to a household income near $37,803 a year. Your other debts also count: lenders typically cap total debt payments at 36% to 43% of income.
Home price for a $100k loan
| Down % | Home price | Down payment |
|---|---|---|
| 3% | $103,093 | $3,093 |
| 5% | $105,263 | $5,263 |
| 10% | $111,111 | $11,111 |
| 20% | $125,000 | $25,000 |