$120,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $120k 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 120,000 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 $120,000 house.
2% interest
0% down$443.54/mo
5% down$421.37/mo
10% down$399.19/mo
15% down$377.01/mo
20% down$354.83/mo
25% down$332.66/mo
30% down$310.48/mo
35% down$288.30/mo
40% down$266.13/mo
45% down$243.95/mo
50% down$221.77/mo
4% interest
0% down$572.90/mo
5% down$544.25/mo
10% down$515.61/mo
15% down$486.96/mo
20% down$458.32/mo
25% down$429.67/mo
30% down$401.03/mo
35% down$372.38/mo
40% down$343.74/mo
45% down$315.09/mo
50% down$286.45/mo
6% interest
0% down$719.46/mo
5% down$683.49/mo
10% down$647.51/mo
15% down$611.54/mo
20% down$575.57/mo
25% down$539.60/mo
30% down$503.62/mo
35% down$467.65/mo
40% down$431.68/mo
45% down$395.70/mo
50% down$359.73/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 120,000 house with a 20% down payment?
($96,000 loan. 30 year mortgage)
0.25%$276.82
0.50%$287.22
0.75%$297.87
1.00%$308.77
1.25%$319.92
1.50%$331.32
1.75%$342.95
2.00%$354.83
2.25%$366.96
2.50%$379.32
2.75%$391.91
3.00%$404.74
3.25%$417.80
3.50%$431.08
3.75%$444.59
4.00%$458.32
4.25%$472.26
4.50%$486.42
4.75%$500.78
5.00%$515.35
5.25%$530.12
5.50%$545.08
5.75%$560.23
6.00%$575.57
6.25%$591.09
6.50%$606.79
6.75%$622.65
7.00%$638.69
7.25%$654.89
7.50%$671.25
7.75%$687.76
8.00%$704.41
8.25%$721.22
8.50%$738.16
8.75%$755.23
9.00%$772.44
9.25%$789.77
9.50%$807.22
9.75%$824.79
10.00%$842.47
10.25%$860.26
10.50%$878.15
10.75%$896.14
11.00%$914.23
11.25%$932.41
11.50%$950.68
11.75%$969.03
12.00%$987.47