$48,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $48k 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 48,000 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 $48,000 house.
2% interest
0% down$177.42/mo
5% down$168.55/mo
10% down$159.68/mo
15% down$150.80/mo
20% down$141.93/mo
25% down$133.06/mo
30% down$124.19/mo
35% down$115.32/mo
40% down$106.45/mo
45% down$97.58/mo
50% down$88.71/mo
4% interest
0% down$229.16/mo
5% down$217.70/mo
10% down$206.24/mo
15% down$194.79/mo
20% down$183.33/mo
25% down$171.87/mo
30% down$160.41/mo
35% down$148.95/mo
40% down$137.50/mo
45% down$126.04/mo
50% down$114.58/mo
6% interest
0% down$287.78/mo
5% down$273.40/mo
10% down$259.01/mo
15% down$244.62/mo
20% down$230.23/mo
25% down$215.84/mo
30% down$201.45/mo
35% down$187.06/mo
40% down$172.67/mo
45% down$158.28/mo
50% down$143.89/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 48,000 house with a 20% down payment?
($38,400 loan. 30 year mortgage)
0.25%$110.73
0.50%$114.89
0.75%$119.15
1.00%$123.51
1.25%$127.97
1.50%$132.53
1.75%$137.18
2.00%$141.93
2.25%$146.78
2.50%$151.73
2.75%$156.76
3.00%$161.90
3.25%$167.12
3.50%$172.43
3.75%$177.84
4.00%$183.33
4.25%$188.90
4.50%$194.57
4.75%$200.31
5.00%$206.14
5.25%$212.05
5.50%$218.03
5.75%$224.09
6.00%$230.23
6.25%$236.44
6.50%$242.71
6.75%$249.06
7.00%$255.48
7.25%$261.96
7.50%$268.50
7.75%$275.10
8.00%$281.77
8.25%$288.49
8.50%$295.26
8.75%$302.09
9.00%$308.98
9.25%$315.91
9.50%$322.89
9.75%$329.92
10.00%$336.99
10.25%$344.10
10.50%$351.26
10.75%$358.46
11.00%$365.69
11.25%$372.96
11.50%$380.27
11.75%$387.61
12.00%$394.99