$62,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $62k 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 62,000 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 $62,000 house.
2% interest
0% down$229.16/mo
5% down$217.71/mo
10% down$206.25/mo
15% down$194.79/mo
20% down$183.33/mo
25% down$171.87/mo
30% down$160.41/mo
35% down$148.96/mo
40% down$137.50/mo
45% down$126.04/mo
50% down$114.58/mo
4% interest
0% down$296.00/mo
5% down$281.20/mo
10% down$266.40/mo
15% down$251.60/mo
20% down$236.80/mo
25% down$222.00/mo
30% down$207.20/mo
35% down$192.40/mo
40% down$177.60/mo
45% down$162.80/mo
50% down$148.00/mo
6% interest
0% down$371.72/mo
5% down$353.14/mo
10% down$334.55/mo
15% down$315.96/mo
20% down$297.38/mo
25% down$278.79/mo
30% down$260.20/mo
35% down$241.62/mo
40% down$223.03/mo
45% down$204.45/mo
50% down$185.86/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 62,000 house with a 20% down payment?
($49,600 loan. 30 year mortgage)
0.25%$143.02
0.50%$148.40
0.75%$153.90
1.00%$159.53
1.25%$165.29
1.50%$171.18
1.75%$177.19
2.00%$183.33
2.25%$189.59
2.50%$195.98
2.75%$202.49
3.00%$209.12
3.25%$215.86
3.50%$222.73
3.75%$229.71
4.00%$236.80
4.25%$244.00
4.50%$251.32
4.75%$258.74
5.00%$266.26
5.25%$273.89
5.50%$281.62
5.75%$289.45
6.00%$297.38
6.25%$305.40
6.50%$313.51
6.75%$321.70
7.00%$329.99
7.25%$338.36
7.50%$346.81
7.75%$355.34
8.00%$363.95
8.25%$372.63
8.50%$381.38
8.75%$390.20
9.00%$399.09
9.25%$408.05
9.50%$417.06
9.75%$426.14
10.00%$435.28
10.25%$444.47
10.50%$453.71
10.75%$463.01
11.00%$472.35
11.25%$481.75
11.50%$491.18
11.75%$500.67
12.00%$510.19