$118,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $118k 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 118,000 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 $118,000 house.
2% interest
0% down$436.15/mo
5% down$414.34/mo
10% down$392.54/mo
15% down$370.73/mo
20% down$348.92/mo
25% down$327.11/mo
30% down$305.31/mo
35% down$283.50/mo
40% down$261.69/mo
45% down$239.88/mo
50% down$218.08/mo
4% interest
0% down$563.35/mo
5% down$535.18/mo
10% down$507.02/mo
15% down$478.85/mo
20% down$450.68/mo
25% down$422.51/mo
30% down$394.35/mo
35% down$366.18/mo
40% down$338.01/mo
45% down$309.84/mo
50% down$281.68/mo
6% interest
0% down$707.47/mo
5% down$672.10/mo
10% down$636.72/mo
15% down$601.35/mo
20% down$565.98/mo
25% down$530.60/mo
30% down$495.23/mo
35% down$459.86/mo
40% down$424.48/mo
45% down$389.11/mo
50% down$353.73/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 118,000 house with a 20% down payment?
($94,400 loan. 30 year mortgage)
0.25%$272.21
0.50%$282.43
0.75%$292.91
1.00%$303.63
1.25%$314.59
1.50%$325.79
1.75%$337.24
2.00%$348.92
2.25%$360.84
2.50%$372.99
2.75%$385.38
3.00%$397.99
3.25%$410.83
3.50%$423.90
3.75%$437.18
4.00%$450.68
4.25%$464.39
4.50%$478.31
4.75%$492.44
5.00%$506.76
5.25%$521.28
5.50%$535.99
5.75%$550.89
6.00%$565.98
6.25%$581.24
6.50%$596.67
6.75%$612.28
7.00%$628.05
7.25%$643.97
7.50%$660.06
7.75%$676.29
8.00%$692.67
8.25%$709.20
8.50%$725.85
8.75%$742.65
9.00%$759.56
9.25%$776.61
9.50%$793.77
9.75%$811.04
10.00%$828.43
10.25%$845.92
10.50%$863.51
10.75%$881.21
11.00%$898.99
11.25%$916.87
11.50%$934.84
11.75%$952.88
12.00%$971.01