$12,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $12k 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 12,000 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 $12,000 house.
2% interest
0% down$44.35/mo
5% down$42.14/mo
10% down$39.92/mo
15% down$37.70/mo
20% down$35.48/mo
25% down$33.27/mo
30% down$31.05/mo
35% down$28.83/mo
40% down$26.61/mo
45% down$24.39/mo
50% down$22.18/mo
4% interest
0% down$57.29/mo
5% down$54.43/mo
10% down$51.56/mo
15% down$48.70/mo
20% down$45.83/mo
25% down$42.97/mo
30% down$40.10/mo
35% down$37.24/mo
40% down$34.37/mo
45% down$31.51/mo
50% down$28.64/mo
6% interest
0% down$71.95/mo
5% down$68.35/mo
10% down$64.75/mo
15% down$61.15/mo
20% down$57.56/mo
25% down$53.96/mo
30% down$50.36/mo
35% down$46.76/mo
40% down$43.17/mo
45% down$39.57/mo
50% down$35.97/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 12,000 house with a 20% down payment?
($9,600 loan. 30 year mortgage)
0.25%$27.68
0.50%$28.72
0.75%$29.79
1.00%$30.88
1.25%$31.99
1.50%$33.13
1.75%$34.30
2.00%$35.48
2.25%$36.70
2.50%$37.93
2.75%$39.19
3.00%$40.47
3.25%$41.78
3.50%$43.11
3.75%$44.46
4.00%$45.83
4.25%$47.23
4.50%$48.64
4.75%$50.08
5.00%$51.53
5.25%$53.01
5.50%$54.51
5.75%$56.02
6.00%$57.56
6.25%$59.11
6.50%$60.68
6.75%$62.27
7.00%$63.87
7.25%$65.49
7.50%$67.12
7.75%$68.78
8.00%$70.44
8.25%$72.12
8.50%$73.82
8.75%$75.52
9.00%$77.24
9.25%$78.98
9.50%$80.72
9.75%$82.48
10.00%$84.25
10.25%$86.03
10.50%$87.81
10.75%$89.61
11.00%$91.42
11.25%$93.24
11.50%$95.07
11.75%$96.90
12.00%$98.75