$198,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $198k 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 198,000 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 $198,000 house.
2% interest
0% down$731.85/mo
5% down$695.25/mo
10% down$658.66/mo
15% down$622.07/mo
20% down$585.48/mo
25% down$548.88/mo
30% down$512.29/mo
35% down$475.70/mo
40% down$439.11/mo
45% down$402.52/mo
50% down$365.92/mo
4% interest
0% down$945.28/mo
5% down$898.02/mo
10% down$850.75/mo
15% down$803.49/mo
20% down$756.23/mo
25% down$708.96/mo
30% down$661.70/mo
35% down$614.43/mo
40% down$567.17/mo
45% down$519.91/mo
50% down$472.64/mo
6% interest
0% down$1,187.11/mo
5% down$1,127.75/mo
10% down$1,068.40/mo
15% down$1,009.04/mo
20% down$949.69/mo
25% down$890.33/mo
30% down$830.98/mo
35% down$771.62/mo
40% down$712.27/mo
45% down$652.91/mo
50% down$593.56/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 198,000 house with a 20% down payment?
($158,400 loan. 30 year mortgage)
0.25%$456.75
0.50%$473.92
0.75%$491.49
1.00%$509.48
1.25%$527.87
1.50%$546.67
1.75%$565.87
2.00%$585.48
2.25%$605.48
2.50%$625.87
2.75%$646.65
3.00%$667.82
3.25%$689.37
3.50%$711.29
3.75%$733.58
4.00%$756.23
4.25%$779.23
4.50%$802.59
4.75%$826.29
5.00%$850.33
5.25%$874.69
5.50%$899.38
5.75%$924.38
6.00%$949.69
6.25%$975.30
6.50%$1,001.20
6.75%$1,027.38
7.00%$1,053.84
7.25%$1,080.57
7.50%$1,107.56
7.75%$1,134.80
8.00%$1,162.28
8.25%$1,190.01
8.50%$1,217.96
8.75%$1,246.13
9.00%$1,274.52
9.25%$1,303.12
9.50%$1,331.91
9.75%$1,360.90
10.00%$1,390.07
10.25%$1,419.42
10.50%$1,448.95
10.75%$1,478.63
11.00%$1,508.48
11.25%$1,538.48
11.50%$1,568.62
11.75%$1,598.91
12.00%$1,629.32