$87,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $87k 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 87,000 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 $87,000 house.
2% interest
0% down$321.57/mo
5% down$305.49/mo
10% down$289.41/mo
15% down$273.33/mo
20% down$257.26/mo
25% down$241.18/mo
30% down$225.10/mo
35% down$209.02/mo
40% down$192.94/mo
45% down$176.86/mo
50% down$160.78/mo
4% interest
0% down$415.35/mo
5% down$394.58/mo
10% down$373.82/mo
15% down$353.05/mo
20% down$332.28/mo
25% down$311.51/mo
30% down$290.75/mo
35% down$269.98/mo
40% down$249.21/mo
45% down$228.44/mo
50% down$207.68/mo
6% interest
0% down$521.61/mo
5% down$495.53/mo
10% down$469.45/mo
15% down$443.37/mo
20% down$417.29/mo
25% down$391.21/mo
30% down$365.13/mo
35% down$339.05/mo
40% down$312.97/mo
45% down$286.88/mo
50% down$260.80/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 87,000 house with a 20% down payment?
($69,600 loan. 30 year mortgage)
0.25%$200.69
0.50%$208.24
0.75%$215.96
1.00%$223.86
1.25%$231.94
1.50%$240.20
1.75%$248.64
2.00%$257.26
2.25%$266.04
2.50%$275.00
2.75%$284.14
3.00%$293.44
3.25%$302.90
3.50%$312.54
3.75%$322.33
4.00%$332.28
4.25%$342.39
4.50%$352.65
4.75%$363.07
5.00%$373.63
5.25%$384.33
5.50%$395.18
5.75%$406.17
6.00%$417.29
6.25%$428.54
6.50%$439.92
6.75%$451.42
7.00%$463.05
7.25%$474.79
7.50%$486.65
7.75%$498.62
8.00%$510.70
8.25%$522.88
8.50%$535.16
8.75%$547.54
9.00%$560.02
9.25%$572.58
9.50%$585.23
9.75%$597.97
10.00%$610.79
10.25%$623.69
10.50%$636.66
10.75%$649.70
11.00%$662.82
11.25%$676.00
11.50%$689.24
11.75%$702.55
12.00%$715.91