$98,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $98k 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 98,000 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 $98,000 house.
2% interest
0% down$362.23/mo
5% down$344.12/mo
10% down$326.00/mo
15% down$307.89/mo
20% down$289.78/mo
25% down$271.67/mo
30% down$253.56/mo
35% down$235.45/mo
40% down$217.34/mo
45% down$199.22/mo
50% down$181.11/mo
4% interest
0% down$467.87/mo
5% down$444.47/mo
10% down$421.08/mo
15% down$397.69/mo
20% down$374.29/mo
25% down$350.90/mo
30% down$327.51/mo
35% down$304.11/mo
40% down$280.72/mo
45% down$257.33/mo
50% down$233.93/mo
6% interest
0% down$587.56/mo
5% down$558.18/mo
10% down$528.80/mo
15% down$499.43/mo
20% down$470.05/mo
25% down$440.67/mo
30% down$411.29/mo
35% down$381.91/mo
40% down$352.54/mo
45% down$323.16/mo
50% down$293.78/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 98,000 house with a 20% down payment?
($78,400 loan. 30 year mortgage)
0.25%$226.07
0.50%$234.56
0.75%$243.26
1.00%$252.17
1.25%$261.27
1.50%$270.57
1.75%$280.08
2.00%$289.78
2.25%$299.68
2.50%$309.77
2.75%$320.06
3.00%$330.54
3.25%$341.20
3.50%$352.05
3.75%$363.08
4.00%$374.29
4.25%$385.68
4.50%$397.24
4.75%$408.97
5.00%$420.87
5.25%$432.93
5.50%$445.15
5.75%$457.52
6.00%$470.05
6.25%$482.72
6.50%$495.54
6.75%$508.50
7.00%$521.60
7.25%$534.83
7.50%$548.18
7.75%$561.67
8.00%$575.27
8.25%$588.99
8.50%$602.83
8.75%$616.77
9.00%$630.82
9.25%$644.98
9.50%$659.23
9.75%$673.58
10.00%$688.02
10.25%$702.54
10.50%$717.16
10.75%$731.85
11.00%$746.62
11.25%$761.47
11.50%$776.39
11.75%$791.38
12.00%$806.43