$28,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $28k 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 28,000 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 $28,000 house.
2% interest
0% down$103.49/mo
5% down$98.32/mo
10% down$93.14/mo
15% down$87.97/mo
20% down$82.79/mo
25% down$77.62/mo
30% down$72.45/mo
35% down$67.27/mo
40% down$62.10/mo
45% down$56.92/mo
50% down$51.75/mo
4% interest
0% down$133.68/mo
5% down$126.99/mo
10% down$120.31/mo
15% down$113.62/mo
20% down$106.94/mo
25% down$100.26/mo
30% down$93.57/mo
35% down$86.89/mo
40% down$80.21/mo
45% down$73.52/mo
50% down$66.84/mo
6% interest
0% down$167.87/mo
5% down$159.48/mo
10% down$151.09/mo
15% down$142.69/mo
20% down$134.30/mo
25% down$125.91/mo
30% down$117.51/mo
35% down$109.12/mo
40% down$100.72/mo
45% down$92.33/mo
50% down$83.94/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 28,000 house with a 20% down payment?
($22,400 loan. 30 year mortgage)
0.25%$64.59
0.50%$67.02
0.75%$69.50
1.00%$72.05
1.25%$74.65
1.50%$77.31
1.75%$80.02
2.00%$82.79
2.25%$85.62
2.50%$88.51
2.75%$91.45
3.00%$94.44
3.25%$97.49
3.50%$100.59
3.75%$103.74
4.00%$106.94
4.25%$110.19
4.50%$113.50
4.75%$116.85
5.00%$120.25
5.25%$123.69
5.50%$127.18
5.75%$130.72
6.00%$134.30
6.25%$137.92
6.50%$141.58
6.75%$145.29
7.00%$149.03
7.25%$152.81
7.50%$156.62
7.75%$160.48
8.00%$164.36
8.25%$168.28
8.50%$172.24
8.75%$176.22
9.00%$180.24
9.25%$184.28
9.50%$188.35
9.75%$192.45
10.00%$196.58
10.25%$200.73
10.50%$204.90
10.75%$209.10
11.00%$213.32
11.25%$217.56
11.50%$221.83
11.75%$226.11
12.00%$230.41