Use the mortgage calculator to calculate the cost of buying a $150k 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 150,000 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 $150,000 house.
$150,000 Home at 2%
| 0% down | $554.43/mo |
| 5% down | $526.71/mo |
| 10% down | $498.99/mo |
| 15% down | $471.26/mo |
| 20% down | $443.54/mo |
| 25% down | $415.82/mo |
| 30% down | $388.10/mo |
| 35% down | $360.38/mo |
| 40% down | $332.66/mo |
| 45% down | $304.94/mo |
| 50% down | $277.21/mo |
$150,000 Home at 4%
| 0% down | $716.12/mo |
| 5% down | $680.32/mo |
| 10% down | $644.51/mo |
| 15% down | $608.70/mo |
| 20% down | $572.90/mo |
| 25% down | $537.09/mo |
| 30% down | $501.29/mo |
| 35% down | $465.48/mo |
| 40% down | $429.67/mo |
| 45% down | $393.87/mo |
| 50% down | $358.06/mo |
$150,000 Home at 6%
| 0% down | $899.33/mo |
| 5% down | $854.36/mo |
| 10% down | $809.39/mo |
| 15% down | $764.43/mo |
| 20% down | $719.46/mo |
| 25% down | $674.49/mo |
| 30% down | $629.53/mo |
| 35% down | $584.56/mo |
| 40% down | $539.60/mo |
| 45% down | $494.63/mo |
| 50% down | $449.66/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.