$5,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $5k 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 5,000 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 $5,000 house.
2% interest
0% down$18.48/mo
5% down$17.56/mo
10% down$16.63/mo
15% down$15.71/mo
20% down$14.78/mo
25% down$13.86/mo
30% down$12.94/mo
35% down$12.01/mo
40% down$11.09/mo
45% down$10.16/mo
50% down$9.24/mo
4% interest
0% down$23.87/mo
5% down$22.68/mo
10% down$21.48/mo
15% down$20.29/mo
20% down$19.10/mo
25% down$17.90/mo
30% down$16.71/mo
35% down$15.52/mo
40% down$14.32/mo
45% down$13.13/mo
50% down$11.94/mo
6% interest
0% down$29.98/mo
5% down$28.48/mo
10% down$26.98/mo
15% down$25.48/mo
20% down$23.98/mo
25% down$22.48/mo
30% down$20.98/mo
35% down$19.49/mo
40% down$17.99/mo
45% down$16.49/mo
50% down$14.99/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 5,000 house with a 20% down payment?
($4,000 loan. 30 year mortgage)
0.25%$11.53
0.50%$11.97
0.75%$12.41
1.00%$12.87
1.25%$13.33
1.50%$13.80
1.75%$14.29
2.00%$14.78
2.25%$15.29
2.50%$15.80
2.75%$16.33
3.00%$16.86
3.25%$17.41
3.50%$17.96
3.75%$18.52
4.00%$19.10
4.25%$19.68
4.50%$20.27
4.75%$20.87
5.00%$21.47
5.25%$22.09
5.50%$22.71
5.75%$23.34
6.00%$23.98
6.25%$24.63
6.50%$25.28
6.75%$25.94
7.00%$26.61
7.25%$27.29
7.50%$27.97
7.75%$28.66
8.00%$29.35
8.25%$30.05
8.50%$30.76
8.75%$31.47
9.00%$32.18
9.25%$32.91
9.50%$33.63
9.75%$34.37
10.00%$35.10
10.25%$35.84
10.50%$36.59
10.75%$37.34
11.00%$38.09
11.25%$38.85
11.50%$39.61
11.75%$40.38
12.00%$41.14