$188,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $188k 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 188,000 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 $188,000 house.
2% interest
0% down$694.88/mo
5% down$660.14/mo
10% down$625.40/mo
15% down$590.65/mo
20% down$555.91/mo
25% down$521.16/mo
30% down$486.42/mo
35% down$451.67/mo
40% down$416.93/mo
45% down$382.19/mo
50% down$347.44/mo
4% interest
0% down$897.54/mo
5% down$852.66/mo
10% down$807.79/mo
15% down$762.91/mo
20% down$718.03/mo
25% down$673.16/mo
30% down$628.28/mo
35% down$583.40/mo
40% down$538.52/mo
45% down$493.65/mo
50% down$448.77/mo
6% interest
0% down$1,127.15/mo
5% down$1,070.80/mo
10% down$1,014.44/mo
15% down$958.08/mo
20% down$901.72/mo
25% down$845.37/mo
30% down$789.01/mo
35% down$732.65/mo
40% down$676.29/mo
45% down$619.94/mo
50% down$563.58/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 188,000 house with a 20% down payment?
($150,400 loan. 30 year mortgage)
0.25%$433.68
0.50%$449.98
0.75%$466.67
1.00%$483.75
1.25%$501.21
1.50%$519.06
1.75%$537.29
2.00%$555.91
2.25%$574.90
2.50%$594.26
2.75%$613.99
3.00%$634.09
3.25%$654.55
3.50%$675.36
3.75%$696.53
4.00%$718.03
4.25%$739.88
4.50%$762.05
4.75%$784.56
5.00%$807.38
5.25%$830.51
5.50%$853.95
5.75%$877.69
6.00%$901.72
6.25%$926.04
6.50%$950.63
6.75%$975.49
7.00%$1,000.61
7.25%$1,025.99
7.50%$1,051.62
7.75%$1,077.48
8.00%$1,103.58
8.25%$1,129.90
8.50%$1,156.45
8.75%$1,183.20
9.00%$1,210.15
9.25%$1,237.30
9.50%$1,264.64
9.75%$1,292.17
10.00%$1,319.87
10.25%$1,347.74
10.50%$1,375.77
10.75%$1,403.96
11.00%$1,432.29
11.25%$1,460.78
11.50%$1,489.40
11.75%$1,518.15
12.00%$1,547.03