$61,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $61k 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 61,000 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 $61,000 house.
2% interest
0% down$225.47/mo
5% down$214.19/mo
10% down$202.92/mo
15% down$191.65/mo
20% down$180.37/mo
25% down$169.10/mo
30% down$157.83/mo
35% down$146.55/mo
40% down$135.28/mo
45% down$124.01/mo
50% down$112.73/mo
4% interest
0% down$291.22/mo
5% down$276.66/mo
10% down$262.10/mo
15% down$247.54/mo
20% down$232.98/mo
25% down$218.42/mo
30% down$203.86/mo
35% down$189.30/mo
40% down$174.73/mo
45% down$160.17/mo
50% down$145.61/mo
6% interest
0% down$365.73/mo
5% down$347.44/mo
10% down$329.15/mo
15% down$310.87/mo
20% down$292.58/mo
25% down$274.29/mo
30% down$256.01/mo
35% down$237.72/mo
40% down$219.44/mo
45% down$201.15/mo
50% down$182.86/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 61,000 house with a 20% down payment?
($48,800 loan. 30 year mortgage)
0.25%$140.72
0.50%$146.00
0.75%$151.42
1.00%$156.96
1.25%$162.63
1.50%$168.42
1.75%$174.33
2.00%$180.37
2.25%$186.54
2.50%$192.82
2.75%$199.22
3.00%$205.74
3.25%$212.38
3.50%$219.13
3.75%$226.00
4.00%$232.98
4.25%$240.07
4.50%$247.26
4.75%$254.56
5.00%$261.97
5.25%$269.48
5.50%$277.08
5.75%$284.78
6.00%$292.58
6.25%$300.47
6.50%$308.45
6.75%$316.52
7.00%$324.67
7.25%$332.90
7.50%$341.22
7.75%$349.61
8.00%$358.08
8.25%$366.62
8.50%$375.23
8.75%$383.91
9.00%$392.66
9.25%$401.47
9.50%$410.34
9.75%$419.27
10.00%$428.25
10.25%$437.30
10.50%$446.39
10.75%$455.54
11.00%$464.73
11.25%$473.98
11.50%$483.26
11.75%$492.59
12.00%$501.96