$156,400 Mortgage for 30 Years

What is the monthly payment of a 156,400 dollar loan?
$
$
%
%
years
Loan Tables for a $156,400 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 156k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $156,400 home? What if I pay a bigger down payment? Make sure to think about maintenance costs, taxes, insurance, and other costs.

Use this to calculate a loan for anything, such as a vehicle, business loan, home, RV, motor home, mobile home, manufactured home, real estate, land, vacation property, education, or any type of debt.
Interest Rate 30 Year
156,400 at 2.01%$578.87
156,400 at 2.02%$579.65
156,400 at 2.03%$580.43
156,400 at 2.04%$581.22
156,400 at 2.05%$582.00
156,400 at 2.06%$582.79
156,400 at 2.07%$583.57
156,400 at 2.08%$584.36
156,400 at 2.09%$585.15
156,400 at 2.1%$585.94
156,400 at 2.11%$586.73
156,400 at 2.12%$587.52
156,400 at 2.13%$588.31
156,400 at 2.14%$589.10
156,400 at 2.15%$589.89
156,400 at 2.16%$590.68
156,400 at 2.17%$591.47
156,400 at 2.18%$592.26
156,400 at 2.19%$593.06
156,400 at 2.2%$593.85
156,400 at 2.21%$594.65
156,400 at 2.22%$595.44
156,400 at 2.23%$596.24
156,400 at 2.24%$597.04
156,400 at 2.25%$597.83
156,400 at 2.26%$598.63
156,400 at 2.27%$599.43
156,400 at 2.28%$600.23
156,400 at 2.29%$601.03
156,400 at 2.3%$601.83
156,400 at 2.31%$602.63
156,400 at 2.32%$603.43
156,400 at 2.33%$604.23
156,400 at 2.34%$605.04
156,400 at 2.35%$605.84
156,400 at 2.36%$606.65
156,400 at 2.37%$607.45
156,400 at 2.38%$608.26
156,400 at 2.39%$609.06
156,400 at 2.4%$609.87
156,400 at 2.41%$610.68
156,400 at 2.42%$611.48
156,400 at 2.43%$612.29
156,400 at 2.44%$613.10
156,400 at 2.45%$613.91
156,400 at 2.46%$614.72
156,400 at 2.47%$615.53
156,400 at 2.48%$616.34
156,400 at 2.49%$617.16
156,400 at 2.5%$617.97
156,400 at 2.51%$618.78
156,400 at 2.52%$619.60
156,400 at 2.53%$620.41
156,400 at 2.54%$621.23
156,400 at 2.55%$622.04
156,400 at 2.56%$622.86
156,400 at 2.57%$623.68
156,400 at 2.58%$624.49
156,400 at 2.59%$625.31
156,400 at 2.6%$626.13
156,400 at 2.61%$626.95
156,400 at 2.62%$627.77
156,400 at 2.63%$628.59
156,400 at 2.64%$629.41
156,400 at 2.65%$630.24
156,400 at 2.66%$631.06
156,400 at 2.67%$631.88
156,400 at 2.68%$632.71
156,400 at 2.69%$633.53
156,400 at 2.7%$634.35
156,400 at 2.71%$635.18
156,400 at 2.72%$636.01
156,400 at 2.73%$636.83
156,400 at 2.74%$637.66
156,400 at 2.75%$638.49
156,400 at 2.76%$639.32
156,400 at 2.77%$640.15
156,400 at 2.78%$640.98
156,400 at 2.79%$641.81
156,400 at 2.8%$642.64
156,400 at 2.81%$643.47
156,400 at 2.82%$644.30
156,400 at 2.83%$645.14
156,400 at 2.84%$645.97
156,400 at 2.85%$646.80
156,400 at 2.86%$647.64
156,400 at 2.87%$648.47
156,400 at 2.88%$649.31
156,400 at 2.89%$650.15
156,400 at 2.9%$650.98
156,400 at 2.91%$651.82
156,400 at 2.92%$652.66
156,400 at 2.93%$653.50
156,400 at 2.94%$654.34
156,400 at 2.95%$655.18
156,400 at 2.96%$656.02
156,400 at 2.97%$656.86
156,400 at 2.98%$657.70
156,400 at 2.99%$658.55
156,400 at 3%$659.39
156,400 at 3.01%$660.23
156,400 at 3.02%$661.08
156,400 at 3.03%$661.92
156,400 at 3.04%$662.77
156,400 at 3.05%$663.61
156,400 at 3.06%$664.46
156,400 at 3.07%$665.31
156,400 at 3.08%$666.16
156,400 at 3.09%$667.00
156,400 at 3.1%$667.85
156,400 at 3.11%$668.70
156,400 at 3.12%$669.55
156,400 at 3.13%$670.40
156,400 at 3.14%$671.26
156,400 at 3.15%$672.11
156,400 at 3.16%$672.96
156,400 at 3.17%$673.81
156,400 at 3.18%$674.67
156,400 at 3.19%$675.52
156,400 at 3.2%$676.38
156,400 at 3.21%$677.23
156,400 at 3.22%$678.09
156,400 at 3.23%$678.95
156,400 at 3.24%$679.80
156,400 at 3.25%$680.66
156,400 at 3.26%$681.52
156,400 at 3.27%$682.38
156,400 at 3.28%$683.24
156,400 at 3.29%$684.10
156,400 at 3.3%$684.96
156,400 at 3.31%$685.82
156,400 at 3.32%$686.69
156,400 at 3.33%$687.55
156,400 at 3.34%$688.41
156,400 at 3.35%$689.28
156,400 at 3.36%$690.14
156,400 at 3.37%$691.01
156,400 at 3.38%$691.87
156,400 at 3.39%$692.74
156,400 at 3.4%$693.60
156,400 at 3.41%$694.47
156,400 at 3.42%$695.34
156,400 at 3.43%$696.21
156,400 at 3.44%$697.08
156,400 at 3.45%$697.95
156,400 at 3.46%$698.82
156,400 at 3.47%$699.69
156,400 at 3.48%$700.56
156,400 at 3.49%$701.43
156,400 at 3.5%$702.31
Interest Rate 30 Year
156,400 at 3.51%$703.18
156,400 at 3.52%$704.05
156,400 at 3.53%$704.93
156,400 at 3.54%$705.80
156,400 at 3.55%$706.68
156,400 at 3.56%$707.55
156,400 at 3.57%$708.43
156,400 at 3.58%$709.31
156,400 at 3.59%$710.19
156,400 at 3.6%$711.07
156,400 at 3.61%$711.94
156,400 at 3.62%$712.82
156,400 at 3.63%$713.70
156,400 at 3.64%$714.59
156,400 at 3.65%$715.47
156,400 at 3.66%$716.35
156,400 at 3.67%$717.23
156,400 at 3.68%$718.11
156,400 at 3.69%$719.00
156,400 at 3.7%$719.88
156,400 at 3.71%$720.77
156,400 at 3.72%$721.65
156,400 at 3.73%$722.54
156,400 at 3.74%$723.43
156,400 at 3.75%$724.31
156,400 at 3.76%$725.20
156,400 at 3.77%$726.09
156,400 at 3.78%$726.98
156,400 at 3.79%$727.87
156,400 at 3.8%$728.76
156,400 at 3.81%$729.65
156,400 at 3.82%$730.54
156,400 at 3.83%$731.43
156,400 at 3.84%$732.32
156,400 at 3.85%$733.22
156,400 at 3.86%$734.11
156,400 at 3.87%$735.00
156,400 at 3.88%$735.90
156,400 at 3.89%$736.79
156,400 at 3.9%$737.69
156,400 at 3.91%$738.59
156,400 at 3.92%$739.48
156,400 at 3.93%$740.38
156,400 at 3.94%$741.28
156,400 at 3.95%$742.18
156,400 at 3.96%$743.08
156,400 at 3.97%$743.98
156,400 at 3.98%$744.88
156,400 at 3.99%$745.78
156,400 at 4%$746.68
156,400 at 4.01%$747.58
156,400 at 4.02%$748.48
156,400 at 4.03%$749.39
156,400 at 4.04%$750.29
156,400 at 4.05%$751.19
156,400 at 4.06%$752.10
156,400 at 4.07%$753.00
156,400 at 4.08%$753.91
156,400 at 4.09%$754.82
156,400 at 4.1%$755.72
156,400 at 4.11%$756.63
156,400 at 4.12%$757.54
156,400 at 4.13%$758.45
156,400 at 4.14%$759.36
156,400 at 4.15%$760.27
156,400 at 4.16%$761.18
156,400 at 4.17%$762.09
156,400 at 4.18%$763.00
156,400 at 4.19%$763.91
156,400 at 4.2%$764.82
156,400 at 4.21%$765.74
156,400 at 4.22%$766.65
156,400 at 4.23%$767.56
156,400 at 4.24%$768.48
156,400 at 4.25%$769.39
156,400 at 4.26%$770.31
156,400 at 4.27%$771.23
156,400 at 4.28%$772.14
156,400 at 4.29%$773.06
156,400 at 4.3%$773.98
156,400 at 4.31%$774.90
156,400 at 4.32%$775.82
156,400 at 4.33%$776.74
156,400 at 4.34%$777.66
156,400 at 4.35%$778.58
156,400 at 4.36%$779.50
156,400 at 4.37%$780.42
156,400 at 4.38%$781.34
156,400 at 4.39%$782.27
156,400 at 4.4%$783.19
156,400 at 4.41%$784.11
156,400 at 4.42%$785.04
156,400 at 4.43%$785.96
156,400 at 4.44%$786.89
156,400 at 4.45%$787.82
156,400 at 4.46%$788.74
156,400 at 4.47%$789.67
156,400 at 4.48%$790.60
156,400 at 4.49%$791.53
156,400 at 4.5%$792.46
156,400 at 4.51%$793.39
156,400 at 4.52%$794.32
156,400 at 4.53%$795.25
156,400 at 4.54%$796.18
156,400 at 4.55%$797.11
156,400 at 4.56%$798.04
156,400 at 4.57%$798.97
156,400 at 4.58%$799.91
156,400 at 4.59%$800.84
156,400 at 4.6%$801.78
156,400 at 4.61%$802.71
156,400 at 4.62%$803.65
156,400 at 4.63%$804.58
156,400 at 4.64%$805.52
156,400 at 4.65%$806.46
156,400 at 4.66%$807.39
156,400 at 4.67%$808.33
156,400 at 4.68%$809.27
156,400 at 4.69%$810.21
156,400 at 4.7%$811.15
156,400 at 4.71%$812.09
156,400 at 4.72%$813.03
156,400 at 4.73%$813.97
156,400 at 4.74%$814.91
156,400 at 4.75%$815.86
156,400 at 4.76%$816.80
156,400 at 4.77%$817.74
156,400 at 4.78%$818.69
156,400 at 4.79%$819.63
156,400 at 4.8%$820.58
156,400 at 4.81%$821.52
156,400 at 4.82%$822.47
156,400 at 4.83%$823.42
156,400 at 4.84%$824.36
156,400 at 4.85%$825.31
156,400 at 4.86%$826.26
156,400 at 4.87%$827.21
156,400 at 4.88%$828.16
156,400 at 4.89%$829.11
156,400 at 4.9%$830.06
156,400 at 4.91%$831.01
156,400 at 4.92%$831.96
156,400 at 4.93%$832.91
156,400 at 4.94%$833.86
156,400 at 4.95%$834.82
156,400 at 4.96%$835.77
156,400 at 4.97%$836.72
156,400 at 4.98%$837.68
156,400 at 4.99%$838.63
156,400 at 5%$839.59
Interest Rate 30 Year
156,400 at 5.01%$840.55
156,400 at 5.02%$841.50
156,400 at 5.03%$842.46
156,400 at 5.04%$843.42
156,400 at 5.05%$844.37
156,400 at 5.06%$845.33
156,400 at 5.07%$846.29
156,400 at 5.08%$847.25
156,400 at 5.09%$848.21
156,400 at 5.1%$849.17
156,400 at 5.11%$850.13
156,400 at 5.12%$851.10
156,400 at 5.13%$852.06
156,400 at 5.14%$853.02
156,400 at 5.15%$853.99
156,400 at 5.16%$854.95
156,400 at 5.17%$855.91
156,400 at 5.18%$856.88
156,400 at 5.19%$857.84
156,400 at 5.2%$858.81
156,400 at 5.21%$859.78
156,400 at 5.22%$860.74
156,400 at 5.23%$861.71
156,400 at 5.24%$862.68
156,400 at 5.25%$863.65
156,400 at 5.26%$864.62
156,400 at 5.27%$865.59
156,400 at 5.28%$866.55
156,400 at 5.29%$867.53
156,400 at 5.3%$868.50
156,400 at 5.31%$869.47
156,400 at 5.32%$870.44
156,400 at 5.33%$871.41
156,400 at 5.34%$872.39
156,400 at 5.35%$873.36
156,400 at 5.36%$874.33
156,400 at 5.37%$875.31
156,400 at 5.38%$876.28
156,400 at 5.39%$877.26
156,400 at 5.4%$878.23
156,400 at 5.41%$879.21
156,400 at 5.42%$880.19
156,400 at 5.43%$881.17
156,400 at 5.44%$882.14
156,400 at 5.45%$883.12
156,400 at 5.46%$884.10
156,400 at 5.47%$885.08
156,400 at 5.48%$886.06
156,400 at 5.49%$887.04
156,400 at 5.5%$888.02
156,400 at 5.51%$889.00
156,400 at 5.52%$889.99
156,400 at 5.53%$890.97
156,400 at 5.54%$891.95
156,400 at 5.55%$892.93
156,400 at 5.56%$893.92
156,400 at 5.57%$894.90
156,400 at 5.58%$895.89
156,400 at 5.59%$896.87
156,400 at 5.6%$897.86
156,400 at 5.61%$898.85
156,400 at 5.62%$899.83
156,400 at 5.63%$900.82
156,400 at 5.64%$901.81
156,400 at 5.65%$902.80
156,400 at 5.66%$903.79
156,400 at 5.67%$904.78
156,400 at 5.68%$905.77
156,400 at 5.69%$906.76
156,400 at 5.7%$907.75
156,400 at 5.71%$908.74
156,400 at 5.72%$909.73
156,400 at 5.73%$910.72
156,400 at 5.74%$911.71
156,400 at 5.75%$912.71
156,400 at 5.76%$913.70
156,400 at 5.77%$914.70
156,400 at 5.78%$915.69
156,400 at 5.79%$916.69
156,400 at 5.8%$917.68
156,400 at 5.81%$918.68
156,400 at 5.82%$919.67
156,400 at 5.83%$920.67
156,400 at 5.84%$921.67
156,400 at 5.85%$922.67
156,400 at 5.86%$923.67
156,400 at 5.87%$924.67
156,400 at 5.88%$925.66
156,400 at 5.89%$926.66
156,400 at 5.9%$927.67
156,400 at 5.91%$928.67
156,400 at 5.92%$929.67
156,400 at 5.93%$930.67
156,400 at 5.94%$931.67
156,400 at 5.95%$932.68
156,400 at 5.96%$933.68
156,400 at 5.97%$934.68
156,400 at 5.98%$935.69
156,400 at 5.99%$936.69
156,400 at 6%$937.70
156,400 at 6.01%$938.70
156,400 at 6.02%$939.71
156,400 at 6.03%$940.72
156,400 at 6.04%$941.72
156,400 at 6.05%$942.73
156,400 at 6.06%$943.74
156,400 at 6.07%$944.75
156,400 at 6.08%$945.76
156,400 at 6.09%$946.77
156,400 at 6.1%$947.78
156,400 at 6.11%$948.79
156,400 at 6.12%$949.80
156,400 at 6.13%$950.81
156,400 at 6.14%$951.82
156,400 at 6.15%$952.83
156,400 at 6.16%$953.85
156,400 at 6.17%$954.86
156,400 at 6.18%$955.87
156,400 at 6.19%$956.89
156,400 at 6.2%$957.90
156,400 at 6.21%$958.92
156,400 at 6.22%$959.93
156,400 at 6.23%$960.95
156,400 at 6.24%$961.96
156,400 at 6.25%$962.98
156,400 at 6.26%$964.00
156,400 at 6.27%$965.02
156,400 at 6.28%$966.04
156,400 at 6.29%$967.05
156,400 at 6.3%$968.07
156,400 at 6.31%$969.09
156,400 at 6.32%$970.11
156,400 at 6.33%$971.13
156,400 at 6.34%$972.16
156,400 at 6.35%$973.18
156,400 at 6.36%$974.20
156,400 at 6.37%$975.22
156,400 at 6.38%$976.24
156,400 at 6.39%$977.27
156,400 at 6.4%$978.29
156,400 at 6.41%$979.32
156,400 at 6.42%$980.34
156,400 at 6.43%$981.37
156,400 at 6.44%$982.39
156,400 at 6.45%$983.42
156,400 at 6.46%$984.44
156,400 at 6.47%$985.47
156,400 at 6.48%$986.50
156,400 at 6.49%$987.53
156,400 at 6.5%$988.55
Interest Rate 30 Year
156,400 at 6.51%$989.58
156,400 at 6.52%$990.61
156,400 at 6.53%$991.64
156,400 at 6.54%$992.67
156,400 at 6.55%$993.70
156,400 at 6.56%$994.73
156,400 at 6.57%$995.77
156,400 at 6.58%$996.80
156,400 at 6.59%$997.83
156,400 at 6.6%$998.86
156,400 at 6.61%$999.90
156,400 at 6.62%$1,000.93
156,400 at 6.63%$1,001.96
156,400 at 6.64%$1,003.00
156,400 at 6.65%$1,004.03
156,400 at 6.66%$1,005.07
156,400 at 6.67%$1,006.10
156,400 at 6.68%$1,007.14
156,400 at 6.69%$1,008.18
156,400 at 6.7%$1,009.21
156,400 at 6.71%$1,010.25
156,400 at 6.72%$1,011.29
156,400 at 6.73%$1,012.33
156,400 at 6.74%$1,013.37
156,400 at 6.75%$1,014.41
156,400 at 6.76%$1,015.45
156,400 at 6.77%$1,016.49
156,400 at 6.78%$1,017.53
156,400 at 6.79%$1,018.57
156,400 at 6.8%$1,019.61
156,400 at 6.81%$1,020.65
156,400 at 6.82%$1,021.70
156,400 at 6.83%$1,022.74
156,400 at 6.84%$1,023.78
156,400 at 6.85%$1,024.83
156,400 at 6.86%$1,025.87
156,400 at 6.87%$1,026.91
156,400 at 6.88%$1,027.96
156,400 at 6.89%$1,029.00
156,400 at 6.9%$1,030.05
156,400 at 6.91%$1,031.10
156,400 at 6.92%$1,032.14
156,400 at 6.93%$1,033.19
156,400 at 6.94%$1,034.24
156,400 at 6.95%$1,035.29
156,400 at 6.96%$1,036.33
156,400 at 6.97%$1,037.38
156,400 at 6.98%$1,038.43
156,400 at 6.99%$1,039.48
156,400 at 7%$1,040.53
156,400 at 7.01%$1,041.58
156,400 at 7.02%$1,042.63
156,400 at 7.03%$1,043.69
156,400 at 7.04%$1,044.74
156,400 at 7.05%$1,045.79
156,400 at 7.06%$1,046.84
156,400 at 7.07%$1,047.90
156,400 at 7.08%$1,048.95
156,400 at 7.09%$1,050.00
156,400 at 7.1%$1,051.06
156,400 at 7.11%$1,052.11
156,400 at 7.12%$1,053.17
156,400 at 7.13%$1,054.22
156,400 at 7.14%$1,055.28
156,400 at 7.15%$1,056.34
156,400 at 7.16%$1,057.39
156,400 at 7.17%$1,058.45
156,400 at 7.18%$1,059.51
156,400 at 7.19%$1,060.57
156,400 at 7.2%$1,061.62
156,400 at 7.21%$1,062.68
156,400 at 7.22%$1,063.74
156,400 at 7.23%$1,064.80
156,400 at 7.24%$1,065.86
156,400 at 7.25%$1,066.92
156,400 at 7.26%$1,067.98
156,400 at 7.27%$1,069.05
156,400 at 7.28%$1,070.11
156,400 at 7.29%$1,071.17
156,400 at 7.3%$1,072.23
156,400 at 7.31%$1,073.30
156,400 at 7.32%$1,074.36
156,400 at 7.33%$1,075.42
156,400 at 7.34%$1,076.49
156,400 at 7.35%$1,077.55
156,400 at 7.36%$1,078.62
156,400 at 7.37%$1,079.68
156,400 at 7.38%$1,080.75
156,400 at 7.39%$1,081.82
156,400 at 7.4%$1,082.88
156,400 at 7.41%$1,083.95
156,400 at 7.42%$1,085.02
156,400 at 7.43%$1,086.08
156,400 at 7.44%$1,087.15
156,400 at 7.45%$1,088.22
156,400 at 7.46%$1,089.29
156,400 at 7.47%$1,090.36
156,400 at 7.48%$1,091.43
156,400 at 7.49%$1,092.50
156,400 at 7.5%$1,093.57
156,400 at 7.51%$1,094.64
156,400 at 7.52%$1,095.71
156,400 at 7.53%$1,096.79
156,400 at 7.54%$1,097.86
156,400 at 7.55%$1,098.93
156,400 at 7.56%$1,100.00
156,400 at 7.57%$1,101.08
156,400 at 7.58%$1,102.15
156,400 at 7.59%$1,103.23
156,400 at 7.6%$1,104.30
156,400 at 7.61%$1,105.38
156,400 at 7.62%$1,106.45
156,400 at 7.63%$1,107.53
156,400 at 7.64%$1,108.60
156,400 at 7.65%$1,109.68
156,400 at 7.66%$1,110.76
156,400 at 7.67%$1,111.83
156,400 at 7.68%$1,112.91
156,400 at 7.69%$1,113.99
156,400 at 7.7%$1,115.07
156,400 at 7.71%$1,116.15
156,400 at 7.72%$1,117.23
156,400 at 7.73%$1,118.31
156,400 at 7.74%$1,119.39
156,400 at 7.75%$1,120.47
156,400 at 7.76%$1,121.55
156,400 at 7.77%$1,122.63
156,400 at 7.78%$1,123.71
156,400 at 7.79%$1,124.79
156,400 at 7.8%$1,125.88
156,400 at 7.81%$1,126.96
156,400 at 7.82%$1,128.04
156,400 at 7.83%$1,129.13
156,400 at 7.84%$1,130.21
156,400 at 7.85%$1,131.30
156,400 at 7.86%$1,132.38
156,400 at 7.87%$1,133.47
156,400 at 7.88%$1,134.55
156,400 at 7.89%$1,135.64
156,400 at 7.9%$1,136.72
156,400 at 7.91%$1,137.81
156,400 at 7.92%$1,138.90
156,400 at 7.93%$1,139.98
156,400 at 7.94%$1,141.07
156,400 at 7.95%$1,142.16
156,400 at 7.96%$1,143.25
156,400 at 7.97%$1,144.34
156,400 at 7.98%$1,145.43
156,400 at 7.99%$1,146.52
156,400 at 8%$1,147.61
More Amounts
What is the down payment for a $156,400 house? How much do you need to put down?
Percent Down Down Payment
1%1,564
2%3,128
3%4,692
4%6,256
5%7,820
6%9,384
7%10,948
8%12,512
9%14,076
10%15,640
11%17,204
12%18,768
13%20,332
14%21,896
15%23,460
16%25,024
17%26,588
18%28,152
19%29,716
20%31,280
Percent Down Down Payment
21%32,844
22%34,408
23%35,972
24%37,536
25%39,100
26%40,664
27%42,228
28%43,792
29%45,356
30%46,920
31%48,484
32%50,048
33%51,612
34%53,176
35%54,740
36%56,304
37%57,868
38%59,432
39%60,996
40%62,560
Percent Down Down Payment
41%64,124
42%65,688
43%67,252
44%68,816
45%70,380
46%71,944
47%73,508
48%75,072
49%76,636
50%78,200
51%79,764
52%81,328
53%82,892
54%84,456
55%86,020
56%87,584
57%89,148
58%90,712
59%92,276
60%93,840
Percent Down Down Payment
61%95,404
62%96,968
63%98,532
64%100,096
65%101,660
66%103,224
67%104,788
68%106,352
69%107,916
70%109,480
71%111,044
72%112,608
73%114,172
74%115,736
75%117,300
76%118,864
77%120,428
78%121,992
79%123,556
80%125,120
Percent Down Down Payment
81%126,684
82%128,248
83%129,812
84%131,376
85%132,940
86%134,504
87%136,068
88%137,632
89%139,196
90%140,760
91%142,324
92%143,888
93%145,452
94%147,016
95%148,580
96%150,144
97%151,708
98%153,272
99%154,836
100%156,400
Common Loan Vocabulary Terms
APR Annual Percentage Rate, the annual cost of borrowing or lending money.
PMI Private Mortgage Insurance. A downpayment less than 20% often requires that the borrower purchase PMI. This increases the overall monthly payment.
Property Taxes Taxes charged by the local government to the owner of the property. This is often charged as a percentage of the assessed value of the property.
Insurance Home insurance protects your property against damage. Flood insurance is often recommended for some areas of the country. Individuals with a high net worth might consider an umbrella policy.
HOA Homeowners' Association. Usually part of a condo development or subdivision. The HOA often sets the rules, takes care of common maintenance, and charges a fee.
Mortgage Refinance After mortgage rates have decreased, it is often possible to get a new mortgage at a lower rate. This is a loan refinance and can save lots of money.