$60,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $60k 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 60,000 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 $60,000 house.
2% interest
0% down$221.77/mo
5% down$210.68/mo
10% down$199.59/mo
15% down$188.51/mo
20% down$177.42/mo
25% down$166.33/mo
30% down$155.24/mo
35% down$144.15/mo
40% down$133.06/mo
45% down$121.97/mo
50% down$110.89/mo
4% interest
0% down$286.45/mo
5% down$272.13/mo
10% down$257.80/mo
15% down$243.48/mo
20% down$229.16/mo
25% down$214.84/mo
30% down$200.51/mo
35% down$186.19/mo
40% down$171.87/mo
45% down$157.55/mo
50% down$143.22/mo
6% interest
0% down$359.73/mo
5% down$341.74/mo
10% down$323.76/mo
15% down$305.77/mo
20% down$287.78/mo
25% down$269.80/mo
30% down$251.81/mo
35% down$233.82/mo
40% down$215.84/mo
45% down$197.85/mo
50% down$179.87/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 60,000 house with a 20% down payment?
($48,000 loan. 30 year mortgage)
0.25%$138.41
0.50%$143.61
0.75%$148.94
1.00%$154.39
1.25%$159.96
1.50%$165.66
1.75%$171.48
2.00%$177.42
2.25%$183.48
2.50%$189.66
2.75%$195.96
3.00%$202.37
3.25%$208.90
3.50%$215.54
3.75%$222.30
4.00%$229.16
4.25%$236.13
4.50%$243.21
4.75%$250.39
5.00%$257.67
5.25%$265.06
5.50%$272.54
5.75%$280.11
6.00%$287.78
6.25%$295.54
6.50%$303.39
6.75%$311.33
7.00%$319.35
7.25%$327.44
7.50%$335.62
7.75%$343.88
8.00%$352.21
8.25%$360.61
8.50%$369.08
8.75%$377.62
9.00%$386.22
9.25%$394.88
9.50%$403.61
9.75%$412.39
10.00%$421.23
10.25%$430.13
10.50%$439.07
10.75%$448.07
11.00%$457.12
11.25%$466.21
11.50%$475.34
11.75%$484.52
12.00%$493.73