$88,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $88k 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 88,000 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 $88,000 house.
2% interest
0% down$325.27/mo
5% down$309.00/mo
10% down$292.74/mo
15% down$276.48/mo
20% down$260.21/mo
25% down$243.95/mo
30% down$227.69/mo
35% down$211.42/mo
40% down$195.16/mo
45% down$178.90/mo
50% down$162.63/mo
4% interest
0% down$420.13/mo
5% down$399.12/mo
10% down$378.11/mo
15% down$357.11/mo
20% down$336.10/mo
25% down$315.09/mo
30% down$294.09/mo
35% down$273.08/mo
40% down$252.08/mo
45% down$231.07/mo
50% down$210.06/mo
6% interest
0% down$527.60/mo
5% down$501.22/mo
10% down$474.84/mo
15% down$448.46/mo
20% down$422.08/mo
25% down$395.70/mo
30% down$369.32/mo
35% down$342.94/mo
40% down$316.56/mo
45% down$290.18/mo
50% down$263.80/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 88,000 house with a 20% down payment?
($70,400 loan. 30 year mortgage)
0.25%$203.00
0.50%$210.63
0.75%$218.44
1.00%$226.43
1.25%$234.61
1.50%$242.96
1.75%$251.50
2.00%$260.21
2.25%$269.10
2.50%$278.17
2.75%$287.40
3.00%$296.81
3.25%$306.39
3.50%$316.13
3.75%$326.03
4.00%$336.10
4.25%$346.33
4.50%$356.71
4.75%$367.24
5.00%$377.92
5.25%$388.75
5.50%$399.72
5.75%$410.84
6.00%$422.08
6.25%$433.46
6.50%$444.98
6.75%$456.61
7.00%$468.37
7.25%$480.25
7.50%$492.25
7.75%$504.35
8.00%$516.57
8.25%$528.89
8.50%$541.32
8.75%$553.84
9.00%$566.45
9.25%$579.16
9.50%$591.96
9.75%$604.84
10.00%$617.81
10.25%$630.86
10.50%$643.98
10.75%$657.17
11.00%$670.44
11.25%$683.77
11.50%$697.17
11.75%$710.62
12.00%$724.14