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How much mortgage will you pay if you buy a 150000$ house? Excelent credit

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tudyluis

Asked by tudyluis at 12:29 PM on Sep. 15, 2011 in Home & Garden

Level 5 (88 Credits)
Answers (7)
  • ALLLL depends on the interst rate you get...they are variable right now and the mortgage will also include tax and interest too...don't forget to factor in those things as well...the flat mortgage rate that you see is always lower than what it will be..
    calliesmommie

    Answer by calliesmommie at 12:30 PM on Sep. 15, 2011


  • depends if you are doing a conventional loan or FHA/VHA and how much you have down but saying min. it should be around a $1000 monthly payment depending on the interest rate you are getting, we are buying a house for &171000 and it will be $1290 on an FHA putting $6k down
    maxsmom11807

    Answer by maxsmom11807 at 12:31 PM on Sep. 15, 2011

  • Go on to realtor.com or do a google search for "mortgage calculator" and it'll allow you to put in terms like your interest rate (usually it's filled in with what's current) 30 or 15 yr terms etc. It'll give you that info
    Mom_2_cuties

    Answer by Mom_2_cuties at 12:31 PM on Sep. 15, 2011

  • What mom_2_cuties said, and don't forget to add taxes and insurance onto that monthly payment.
    Anonymous

    Answer by Anonymous at 12:34 PM on Sep. 15, 2011

  • In my area around 1063 a month with homeowners insurance, property tax and PMI. I base this on a home in my area (Iowa) and using the property tax for that property and the average insurance costs for the area I live in. That would drop to roughly 999 a month in 2021. Put 20 percent down and it would drop to roughly 852 a month. Pay bimonthly and you will pay the house off a few years early and save thousands also putting 20 percent down will save over 60k the life of the loan if you paid monthly.

    There are many calculators out there you can use. I would find the property tax rate for your area and what the average costs for insurance are. If you don't put 20 percent down remember there is PMI which will make the payment go up..
    healthykidsmom

    Answer by healthykidsmom at 12:54 PM on Sep. 16, 2011

  • tasches

    Answer by tasches at 6:28 PM on Sep. 16, 2011

  • It depends on where you get yourloan
    Dardenella

    Answer by Dardenella at 9:38 PM on Sep. 17, 2011

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