Payment by interest rate
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $805.23 | $989.93 | $1,186.19 |
| 5.25% | $828.31 | $1,010.77 | $1,205.82 |
| 5.50% | $851.68 | $1,031.83 | $1,225.63 |
| 5.75% | $875.36 | $1,053.13 | $1,245.62 |
| 6.00% | $899.33 | $1,074.65 | $1,265.79 |
| 6.25% | $923.58 | $1,096.39 | $1,286.13 |
| 6.50% | $948.10 | $1,118.36 | $1,306.66 |
| 6.75% | $972.90 | $1,140.55 | $1,327.36 |
| 7.00% | $997.95 | $1,162.95 | $1,348.24 |
| 7.25% | $1,023.26 | $1,185.56 | $1,369.29 |
| 7.50% | $1,048.82 | $1,208.39 | $1,390.52 |
| 7.75% | $1,074.62 | $1,231.42 | $1,411.91 |
| 8.00% | $1,100.65 | $1,254.66 | $1,433.48 |
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 $150k 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 $1,248, which points to a household income near $53,490 a year. Your other debts also count: lenders typically cap total debt payments at 36% to 43% of income.
Home price for a $150k loan
| Down % | Home price | Down payment |
|---|---|---|
| 3% | $154,639 | $4,639 |
| 5% | $157,895 | $7,895 |
| 10% | $166,667 | $16,667 |
| 20% | $187,500 | $37,500 |