$116,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $116k 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 116,000 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 $116,000 house.
2% interest
0% down$428.76/mo
5% down$407.32/mo
10% down$385.88/mo
15% down$364.44/mo
20% down$343.01/mo
25% down$321.57/mo
30% down$300.13/mo
35% down$278.69/mo
40% down$257.26/mo
45% down$235.82/mo
50% down$214.38/mo
4% interest
0% down$553.80/mo
5% down$526.11/mo
10% down$498.42/mo
15% down$470.73/mo
20% down$443.04/mo
25% down$415.35/mo
30% down$387.66/mo
35% down$359.97/mo
40% down$332.28/mo
45% down$304.59/mo
50% down$276.90/mo
6% interest
0% down$695.48/mo
5% down$660.70/mo
10% down$625.93/mo
15% down$591.16/mo
20% down$556.38/mo
25% down$521.61/mo
30% down$486.84/mo
35% down$452.06/mo
40% down$417.29/mo
45% down$382.51/mo
50% down$347.74/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 116,000 house with a 20% down payment?
($92,800 loan. 30 year mortgage)
0.25%$267.59
0.50%$277.65
0.75%$287.94
1.00%$298.48
1.25%$309.26
1.50%$320.27
1.75%$331.52
2.00%$343.01
2.25%$354.72
2.50%$366.67
2.75%$378.85
3.00%$391.25
3.25%$403.87
3.50%$416.71
3.75%$429.77
4.00%$443.04
4.25%$456.52
4.50%$470.20
4.75%$484.09
5.00%$498.17
5.25%$512.45
5.50%$526.91
5.75%$541.56
6.00%$556.38
6.25%$571.39
6.50%$586.56
6.75%$601.90
7.00%$617.40
7.25%$633.06
7.50%$648.87
7.75%$664.83
8.00%$680.93
8.25%$697.18
8.50%$713.55
8.75%$730.06
9.00%$746.69
9.25%$763.44
9.50%$780.31
9.75%$797.30
10.00%$814.39
10.25%$831.58
10.50%$848.88
10.75%$866.27
11.00%$883.76
11.25%$901.33
11.50%$918.99
11.75%$936.73
12.00%$954.55