Payment by interest rate
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $671.03 | $824.94 | $988.49 |
| 5.25% | $690.25 | $842.31 | $1,004.85 |
| 5.50% | $709.74 | $859.86 | $1,021.35 |
| 5.75% | $729.47 | $877.60 | $1,038.01 |
| 6.00% | $749.44 | $895.54 | $1,054.82 |
| 6.25% | $769.65 | $913.66 | $1,071.78 |
| 6.50% | $790.09 | $931.97 | $1,088.88 |
| 6.75% | $810.75 | $950.46 | $1,106.14 |
| 7.00% | $831.63 | $969.12 | $1,123.54 |
| 7.25% | $852.72 | $987.97 | $1,141.08 |
| 7.50% | $874.02 | $1,006.99 | $1,158.77 |
| 7.75% | $895.52 | $1,026.19 | $1,176.59 |
| 8.00% | $917.21 | $1,045.55 | $1,194.57 |
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 $125k 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 $1,065, which points to a household income near $45,647 a year. Your other debts also count: lenders typically cap total debt payments at 36% to 43% of income.
Home price for a $125k loan
| Down % | Home price | Down payment |
|---|---|---|
| 3% | $128,866 | $3,866 |
| 5% | $131,579 | $6,579 |
| 10% | $138,889 | $13,889 |
| 20% | $156,250 | $31,250 |