$54,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $54k 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 54,000 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 $54,000 house.
2% interest
0% down$199.59/mo
5% down$189.61/mo
10% down$179.64/mo
15% down$169.66/mo
20% down$159.68/mo
25% down$149.70/mo
30% down$139.72/mo
35% down$129.74/mo
40% down$119.76/mo
45% down$109.78/mo
50% down$99.80/mo
4% interest
0% down$257.80/mo
5% down$244.91/mo
10% down$232.02/mo
15% down$219.13/mo
20% down$206.24/mo
25% down$193.35/mo
30% down$180.46/mo
35% down$167.57/mo
40% down$154.68/mo
45% down$141.79/mo
50% down$128.90/mo
6% interest
0% down$323.76/mo
5% down$307.57/mo
10% down$291.38/mo
15% down$275.19/mo
20% down$259.01/mo
25% down$242.82/mo
30% down$226.63/mo
35% down$210.44/mo
40% down$194.25/mo
45% down$178.07/mo
50% down$161.88/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 54,000 house with a 20% down payment?
($43,200 loan. 30 year mortgage)
0.25%$124.57
0.50%$129.25
0.75%$134.04
1.00%$138.95
1.25%$143.96
1.50%$149.09
1.75%$154.33
2.00%$159.68
2.25%$165.13
2.50%$170.69
2.75%$176.36
3.00%$182.13
3.25%$188.01
3.50%$193.99
3.75%$200.07
4.00%$206.24
4.25%$212.52
4.50%$218.89
4.75%$225.35
5.00%$231.91
5.25%$238.55
5.50%$245.28
5.75%$252.10
6.00%$259.01
6.25%$265.99
6.50%$273.05
6.75%$280.19
7.00%$287.41
7.25%$294.70
7.50%$302.06
7.75%$309.49
8.00%$316.99
8.25%$324.55
8.50%$332.17
8.75%$339.85
9.00%$347.60
9.25%$355.40
9.50%$363.25
9.75%$371.15
10.00%$379.11
10.25%$387.12
10.50%$395.17
10.75%$403.26
11.00%$411.40
11.25%$419.58
11.50%$427.81
11.75%$436.07
12.00%$444.36