$8,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $8k 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 8,000 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 $8,000 house.
2% interest
0% down$29.57/mo
5% down$28.09/mo
10% down$26.61/mo
15% down$25.13/mo
20% down$23.66/mo
25% down$22.18/mo
30% down$20.70/mo
35% down$19.22/mo
40% down$17.74/mo
45% down$16.26/mo
50% down$14.78/mo
4% interest
0% down$38.19/mo
5% down$36.28/mo
10% down$34.37/mo
15% down$32.46/mo
20% down$30.55/mo
25% down$28.64/mo
30% down$26.74/mo
35% down$24.83/mo
40% down$22.92/mo
45% down$21.01/mo
50% down$19.10/mo
6% interest
0% down$47.96/mo
5% down$45.57/mo
10% down$43.17/mo
15% down$40.77/mo
20% down$38.37/mo
25% down$35.97/mo
30% down$33.57/mo
35% down$31.18/mo
40% down$28.78/mo
45% down$26.38/mo
50% down$23.98/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 8,000 house with a 20% down payment?
($6,400 loan. 30 year mortgage)
0.25%$18.45
0.50%$19.15
0.75%$19.86
1.00%$20.58
1.25%$21.33
1.50%$22.09
1.75%$22.86
2.00%$23.66
2.25%$24.46
2.50%$25.29
2.75%$26.13
3.00%$26.98
3.25%$27.85
3.50%$28.74
3.75%$29.64
4.00%$30.55
4.25%$31.48
4.50%$32.43
4.75%$33.39
5.00%$34.36
5.25%$35.34
5.50%$36.34
5.75%$37.35
6.00%$38.37
6.25%$39.41
6.50%$40.45
6.75%$41.51
7.00%$42.58
7.25%$43.66
7.50%$44.75
7.75%$45.85
8.00%$46.96
8.25%$48.08
8.50%$49.21
8.75%$50.35
9.00%$51.50
9.25%$52.65
9.50%$53.81
9.75%$54.99
10.00%$56.16
10.25%$57.35
10.50%$58.54
10.75%$59.74
11.00%$60.95
11.25%$62.16
11.50%$63.38
11.75%$64.60
12.00%$65.83