$1,000 Mortgage Loan Payments and Costs

$
$
%
years
%

Loan Summary


Use the mortgage calculator to calculate the cost of buying a $1k 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 1,000 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 $1,000 house.
2% interest
0% down$3.70/mo
5% down$3.51/mo
10% down$3.33/mo
15% down$3.14/mo
20% down$2.96/mo
25% down$2.77/mo
30% down$2.59/mo
35% down$2.40/mo
40% down$2.22/mo
45% down$2.03/mo
50% down$1.85/mo
4% interest
0% down$4.77/mo
5% down$4.54/mo
10% down$4.30/mo
15% down$4.06/mo
20% down$3.82/mo
25% down$3.58/mo
30% down$3.34/mo
35% down$3.10/mo
40% down$2.86/mo
45% down$2.63/mo
50% down$2.39/mo
6% interest
0% down$6.00/mo
5% down$5.70/mo
10% down$5.40/mo
15% down$5.10/mo
20% down$4.80/mo
25% down$4.50/mo
30% down$4.20/mo
35% down$3.90/mo
40% down$3.60/mo
45% down$3.30/mo
50% down$3.00/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 1,000 house with a 20% down payment?
($800 loan. 30 year mortgage)
0.25%$2.31
0.50%$2.39
0.75%$2.48
1.00%$2.57
1.25%$2.67
1.50%$2.76
1.75%$2.86
2.00%$2.96
2.25%$3.06
2.50%$3.16
2.75%$3.27
3.00%$3.37
3.25%$3.48
3.50%$3.59
3.75%$3.70
4.00%$3.82
4.25%$3.94
4.50%$4.05
4.75%$4.17
5.00%$4.29
5.25%$4.42
5.50%$4.54
5.75%$4.67
6.00%$4.80
6.25%$4.93
6.50%$5.06
6.75%$5.19
7.00%$5.32
7.25%$5.46
7.50%$5.59
7.75%$5.73
8.00%$5.87
8.25%$6.01
8.50%$6.15
8.75%$6.29
9.00%$6.44
9.25%$6.58
9.50%$6.73
9.75%$6.87
10.00%$7.02
10.25%$7.17
10.50%$7.32
10.75%$7.47
11.00%$7.62
11.25%$7.77
11.50%$7.92
11.75%$8.08
12.00%$8.23