$23,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $23k 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 23,000 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 $23,000 house.
2% interest
0% down$85.01/mo
5% down$80.76/mo
10% down$76.51/mo
15% down$72.26/mo
20% down$68.01/mo
25% down$63.76/mo
30% down$59.51/mo
35% down$55.26/mo
40% down$51.01/mo
45% down$46.76/mo
50% down$42.51/mo
4% interest
0% down$109.81/mo
5% down$104.32/mo
10% down$98.82/mo
15% down$93.33/mo
20% down$87.84/mo
25% down$82.35/mo
30% down$76.86/mo
35% down$71.37/mo
40% down$65.88/mo
45% down$60.39/mo
50% down$54.90/mo
6% interest
0% down$137.90/mo
5% down$131.00/mo
10% down$124.11/mo
15% down$117.21/mo
20% down$110.32/mo
25% down$103.42/mo
30% down$96.53/mo
35% down$89.63/mo
40% down$82.74/mo
45% down$75.84/mo
50% down$68.95/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 23,000 house with a 20% down payment?
($18,400 loan. 30 year mortgage)
0.25%$53.06
0.50%$55.05
0.75%$57.09
1.00%$59.18
1.25%$61.32
1.50%$63.50
1.75%$65.73
2.00%$68.01
2.25%$70.33
2.50%$72.70
2.75%$75.12
3.00%$77.58
3.25%$80.08
3.50%$82.62
3.75%$85.21
4.00%$87.84
4.25%$90.52
4.50%$93.23
4.75%$95.98
5.00%$98.78
5.25%$101.61
5.50%$104.47
5.75%$107.38
6.00%$110.32
6.25%$113.29
6.50%$116.30
6.75%$119.34
7.00%$122.42
7.25%$125.52
7.50%$128.66
7.75%$131.82
8.00%$135.01
8.25%$138.23
8.50%$141.48
8.75%$144.75
9.00%$148.05
9.25%$151.37
9.50%$154.72
9.75%$158.08
10.00%$161.47
10.25%$164.88
10.50%$168.31
10.75%$171.76
11.00%$175.23
11.25%$178.71
11.50%$182.21
11.75%$185.73
12.00%$189.26