Use the mortgage calculator to calculate the cost of buying a $157k home. Change the numbers to see different options.
This calc can be used for car loans, debt, real estate, home purchase, etc.
Can I afford a 157,000 dollar house? It depends.
In addition to the mortgage payment, a home also has insurance, maintenance, and taxes.
Taxes can vary drastically by area. A very rough estimate is to not spend more than 30% of your income
on housing.
How do I get a mortgage? A simple first step is to talk to a local banker and fill out a mortgage application. Then consider other offers, either local or online.
How much of a down payment should I make? Here's a little chart that shows monthly payments based on down payment for a $157,000 house.
$157,000 Home at 2%
| 0% down | $580.30/mo |
| 5% down | $551.29/mo |
| 10% down | $522.27/mo |
| 15% down | $493.26/mo |
| 20% down | $464.24/mo |
| 25% down | $435.23/mo |
| 30% down | $406.21/mo |
| 35% down | $377.20/mo |
| 40% down | $348.18/mo |
| 45% down | $319.17/mo |
| 50% down | $290.15/mo |
$157,000 Home at 4%
| 0% down | $749.54/mo |
| 5% down | $712.06/mo |
| 10% down | $674.59/mo |
| 15% down | $637.11/mo |
| 20% down | $599.63/mo |
| 25% down | $562.16/mo |
| 30% down | $524.68/mo |
| 35% down | $487.20/mo |
| 40% down | $449.73/mo |
| 45% down | $412.25/mo |
| 50% down | $374.77/mo |
$157,000 Home at 6%
| 0% down | $941.29/mo |
| 5% down | $894.23/mo |
| 10% down | $847.16/mo |
| 15% down | $800.10/mo |
| 20% down | $753.04/mo |
| 25% down | $705.97/mo |
| 30% down | $658.91/mo |
| 35% down | $611.84/mo |
| 40% down | $564.78/mo |
| 45% down | $517.71/mo |
| 50% down | $470.65/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.