$197,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $197k 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 197,000 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 $197,000 house.
2% interest
0% down$728.15/mo
5% down$691.74/mo
10% down$655.34/mo
15% down$618.93/mo
20% down$582.52/mo
25% down$546.11/mo
30% down$509.71/mo
35% down$473.30/mo
40% down$436.89/mo
45% down$400.48/mo
50% down$364.08/mo
4% interest
0% down$940.51/mo
5% down$893.48/mo
10% down$846.46/mo
15% down$799.43/mo
20% down$752.41/mo
25% down$705.38/mo
30% down$658.36/mo
35% down$611.33/mo
40% down$564.30/mo
45% down$517.28/mo
50% down$470.25/mo
6% interest
0% down$1,181.11/mo
5% down$1,122.06/mo
10% down$1,063.00/mo
15% down$1,003.95/mo
20% down$944.89/mo
25% down$885.84/mo
30% down$826.78/mo
35% down$767.72/mo
40% down$708.67/mo
45% down$649.61/mo
50% down$590.56/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 197,000 house with a 20% down payment?
($157,600 loan. 30 year mortgage)
0.25%$454.45
0.50%$471.52
0.75%$489.01
1.00%$506.90
1.25%$525.20
1.50%$543.91
1.75%$563.02
2.00%$582.52
2.25%$602.42
2.50%$622.71
2.75%$643.39
3.00%$664.45
3.25%$685.89
3.50%$707.69
3.75%$729.87
4.00%$752.41
4.25%$775.30
4.50%$798.54
4.75%$822.12
5.00%$846.03
5.25%$870.27
5.50%$894.84
5.75%$919.71
6.00%$944.89
6.25%$970.37
6.50%$996.14
6.75%$1,022.19
7.00%$1,048.52
7.25%$1,075.11
7.50%$1,101.96
7.75%$1,129.07
8.00%$1,156.41
8.25%$1,184.00
8.50%$1,211.81
8.75%$1,239.84
9.00%$1,268.09
9.25%$1,296.54
9.50%$1,325.19
9.75%$1,354.03
10.00%$1,383.05
10.25%$1,412.26
10.50%$1,441.63
10.75%$1,471.17
11.00%$1,500.86
11.25%$1,530.71
11.50%$1,560.70
11.75%$1,590.83
12.00%$1,621.09