$97,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $97k 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 97,000 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 $97,000 house.
2% interest
0% down$358.53/mo
5% down$340.60/mo
10% down$322.68/mo
15% down$304.75/mo
20% down$286.82/mo
25% down$268.90/mo
30% down$250.97/mo
35% down$233.05/mo
40% down$215.12/mo
45% down$197.19/mo
50% down$179.27/mo
4% interest
0% down$463.09/mo
5% down$439.94/mo
10% down$416.78/mo
15% down$393.63/mo
20% down$370.47/mo
25% down$347.32/mo
30% down$324.16/mo
35% down$301.01/mo
40% down$277.86/mo
45% down$254.70/mo
50% down$231.55/mo
6% interest
0% down$581.56/mo
5% down$552.49/mo
10% down$523.41/mo
15% down$494.33/mo
20% down$465.25/mo
25% down$436.17/mo
30% down$407.09/mo
35% down$378.02/mo
40% down$348.94/mo
45% down$319.86/mo
50% down$290.78/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 97,000 house with a 20% down payment?
($77,600 loan. 30 year mortgage)
0.25%$223.76
0.50%$232.17
0.75%$240.78
1.00%$249.59
1.25%$258.60
1.50%$267.81
1.75%$277.22
2.00%$286.82
2.25%$296.62
2.50%$306.61
2.75%$316.80
3.00%$327.16
3.25%$337.72
3.50%$348.46
3.75%$359.38
4.00%$370.47
4.25%$381.75
4.50%$393.19
4.75%$404.80
5.00%$416.57
5.25%$428.51
5.50%$440.60
5.75%$452.85
6.00%$465.25
6.25%$477.80
6.50%$490.48
6.75%$503.31
7.00%$516.27
7.25%$529.37
7.50%$542.59
7.75%$555.94
8.00%$569.40
8.25%$582.98
8.50%$596.68
8.75%$610.48
9.00%$624.39
9.25%$638.40
9.50%$652.50
9.75%$666.70
10.00%$681.00
10.25%$695.37
10.50%$709.84
10.75%$724.38
11.00%$739.00
11.25%$753.70
11.50%$768.47
11.75%$783.30
12.00%$798.20