$53,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $53k 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 53,000 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 $53,000 house.
2% interest
0% down$195.90/mo
5% down$186.10/mo
10% down$176.31/mo
15% down$166.51/mo
20% down$156.72/mo
25% down$146.92/mo
30% down$137.13/mo
35% down$127.33/mo
40% down$117.54/mo
45% down$107.74/mo
50% down$97.95/mo
4% interest
0% down$253.03/mo
5% down$240.38/mo
10% down$227.73/mo
15% down$215.08/mo
20% down$202.42/mo
25% down$189.77/mo
30% down$177.12/mo
35% down$164.47/mo
40% down$151.82/mo
45% down$139.17/mo
50% down$126.52/mo
6% interest
0% down$317.76/mo
5% down$301.87/mo
10% down$285.99/mo
15% down$270.10/mo
20% down$254.21/mo
25% down$238.32/mo
30% down$222.43/mo
35% down$206.55/mo
40% down$190.66/mo
45% down$174.77/mo
50% down$158.88/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 53,000 house with a 20% down payment?
($42,400 loan. 30 year mortgage)
0.25%$122.26
0.50%$126.86
0.75%$131.56
1.00%$136.38
1.25%$141.30
1.50%$146.33
1.75%$151.47
2.00%$156.72
2.25%$162.07
2.50%$167.53
2.75%$173.09
3.00%$178.76
3.25%$184.53
3.50%$190.39
3.75%$196.36
4.00%$202.42
4.25%$208.58
4.50%$214.83
4.75%$221.18
5.00%$227.61
5.25%$234.13
5.50%$240.74
5.75%$247.43
6.00%$254.21
6.25%$261.06
6.50%$268.00
6.75%$275.01
7.00%$282.09
7.25%$289.24
7.50%$296.47
7.75%$303.76
8.00%$311.12
8.25%$318.54
8.50%$326.02
8.75%$333.56
9.00%$341.16
9.25%$348.81
9.50%$356.52
9.75%$364.28
10.00%$372.09
10.25%$379.95
10.50%$387.85
10.75%$395.80
11.00%$403.79
11.25%$411.81
11.50%$419.88
11.75%$427.99
12.00%$436.13