$156,850 Mortgage for 30 Years

What is the monthly payment of a 156,850 dollar loan?
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Loan Tables for a $156,850 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 157k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $156,850 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
156,850 at 2.01%$580.53
156,850 at 2.02%$581.32
156,850 at 2.03%$582.10
156,850 at 2.04%$582.89
156,850 at 2.05%$583.68
156,850 at 2.06%$584.47
156,850 at 2.07%$585.25
156,850 at 2.08%$586.04
156,850 at 2.09%$586.83
156,850 at 2.1%$587.62
156,850 at 2.11%$588.41
156,850 at 2.12%$589.21
156,850 at 2.13%$590.00
156,850 at 2.14%$590.79
156,850 at 2.15%$591.58
156,850 at 2.16%$592.38
156,850 at 2.17%$593.17
156,850 at 2.18%$593.97
156,850 at 2.19%$594.76
156,850 at 2.2%$595.56
156,850 at 2.21%$596.36
156,850 at 2.22%$597.16
156,850 at 2.23%$597.95
156,850 at 2.24%$598.75
156,850 at 2.25%$599.55
156,850 at 2.26%$600.35
156,850 at 2.27%$601.15
156,850 at 2.28%$601.96
156,850 at 2.29%$602.76
156,850 at 2.3%$603.56
156,850 at 2.31%$604.36
156,850 at 2.32%$605.17
156,850 at 2.33%$605.97
156,850 at 2.34%$606.78
156,850 at 2.35%$607.58
156,850 at 2.36%$608.39
156,850 at 2.37%$609.20
156,850 at 2.38%$610.01
156,850 at 2.39%$610.81
156,850 at 2.4%$611.62
156,850 at 2.41%$612.43
156,850 at 2.42%$613.24
156,850 at 2.43%$614.05
156,850 at 2.44%$614.87
156,850 at 2.45%$615.68
156,850 at 2.46%$616.49
156,850 at 2.47%$617.30
156,850 at 2.48%$618.12
156,850 at 2.49%$618.93
156,850 at 2.5%$619.75
156,850 at 2.51%$620.56
156,850 at 2.52%$621.38
156,850 at 2.53%$622.20
156,850 at 2.54%$623.01
156,850 at 2.55%$623.83
156,850 at 2.56%$624.65
156,850 at 2.57%$625.47
156,850 at 2.58%$626.29
156,850 at 2.59%$627.11
156,850 at 2.6%$627.93
156,850 at 2.61%$628.75
156,850 at 2.62%$629.58
156,850 at 2.63%$630.40
156,850 at 2.64%$631.22
156,850 at 2.65%$632.05
156,850 at 2.66%$632.87
156,850 at 2.67%$633.70
156,850 at 2.68%$634.53
156,850 at 2.69%$635.35
156,850 at 2.7%$636.18
156,850 at 2.71%$637.01
156,850 at 2.72%$637.84
156,850 at 2.73%$638.67
156,850 at 2.74%$639.50
156,850 at 2.75%$640.33
156,850 at 2.76%$641.16
156,850 at 2.77%$641.99
156,850 at 2.78%$642.82
156,850 at 2.79%$643.65
156,850 at 2.8%$644.49
156,850 at 2.81%$645.32
156,850 at 2.82%$646.16
156,850 at 2.83%$646.99
156,850 at 2.84%$647.83
156,850 at 2.85%$648.66
156,850 at 2.86%$649.50
156,850 at 2.87%$650.34
156,850 at 2.88%$651.18
156,850 at 2.89%$652.02
156,850 at 2.9%$652.86
156,850 at 2.91%$653.70
156,850 at 2.92%$654.54
156,850 at 2.93%$655.38
156,850 at 2.94%$656.22
156,850 at 2.95%$657.06
156,850 at 2.96%$657.91
156,850 at 2.97%$658.75
156,850 at 2.98%$659.60
156,850 at 2.99%$660.44
156,850 at 3%$661.29
156,850 at 3.01%$662.13
156,850 at 3.02%$662.98
156,850 at 3.03%$663.83
156,850 at 3.04%$664.67
156,850 at 3.05%$665.52
156,850 at 3.06%$666.37
156,850 at 3.07%$667.22
156,850 at 3.08%$668.07
156,850 at 3.09%$668.92
156,850 at 3.1%$669.78
156,850 at 3.11%$670.63
156,850 at 3.12%$671.48
156,850 at 3.13%$672.33
156,850 at 3.14%$673.19
156,850 at 3.15%$674.04
156,850 at 3.16%$674.90
156,850 at 3.17%$675.75
156,850 at 3.18%$676.61
156,850 at 3.19%$677.47
156,850 at 3.2%$678.32
156,850 at 3.21%$679.18
156,850 at 3.22%$680.04
156,850 at 3.23%$680.90
156,850 at 3.24%$681.76
156,850 at 3.25%$682.62
156,850 at 3.26%$683.48
156,850 at 3.27%$684.34
156,850 at 3.28%$685.21
156,850 at 3.29%$686.07
156,850 at 3.3%$686.93
156,850 at 3.31%$687.80
156,850 at 3.32%$688.66
156,850 at 3.33%$689.53
156,850 at 3.34%$690.39
156,850 at 3.35%$691.26
156,850 at 3.36%$692.13
156,850 at 3.37%$692.99
156,850 at 3.38%$693.86
156,850 at 3.39%$694.73
156,850 at 3.4%$695.60
156,850 at 3.41%$696.47
156,850 at 3.42%$697.34
156,850 at 3.43%$698.21
156,850 at 3.44%$699.08
156,850 at 3.45%$699.96
156,850 at 3.46%$700.83
156,850 at 3.47%$701.70
156,850 at 3.48%$702.58
156,850 at 3.49%$703.45
156,850 at 3.5%$704.33
Interest Rate 30 Year
156,850 at 3.51%$705.20
156,850 at 3.52%$706.08
156,850 at 3.53%$706.96
156,850 at 3.54%$707.83
156,850 at 3.55%$708.71
156,850 at 3.56%$709.59
156,850 at 3.57%$710.47
156,850 at 3.58%$711.35
156,850 at 3.59%$712.23
156,850 at 3.6%$713.11
156,850 at 3.61%$713.99
156,850 at 3.62%$714.88
156,850 at 3.63%$715.76
156,850 at 3.64%$716.64
156,850 at 3.65%$717.53
156,850 at 3.66%$718.41
156,850 at 3.67%$719.30
156,850 at 3.68%$720.18
156,850 at 3.69%$721.07
156,850 at 3.7%$721.95
156,850 at 3.71%$722.84
156,850 at 3.72%$723.73
156,850 at 3.73%$724.62
156,850 at 3.74%$725.51
156,850 at 3.75%$726.40
156,850 at 3.76%$727.29
156,850 at 3.77%$728.18
156,850 at 3.78%$729.07
156,850 at 3.79%$729.96
156,850 at 3.8%$730.85
156,850 at 3.81%$731.75
156,850 at 3.82%$732.64
156,850 at 3.83%$733.54
156,850 at 3.84%$734.43
156,850 at 3.85%$735.33
156,850 at 3.86%$736.22
156,850 at 3.87%$737.12
156,850 at 3.88%$738.02
156,850 at 3.89%$738.91
156,850 at 3.9%$739.81
156,850 at 3.91%$740.71
156,850 at 3.92%$741.61
156,850 at 3.93%$742.51
156,850 at 3.94%$743.41
156,850 at 3.95%$744.31
156,850 at 3.96%$745.21
156,850 at 3.97%$746.12
156,850 at 3.98%$747.02
156,850 at 3.99%$747.92
156,850 at 4%$748.83
156,850 at 4.01%$749.73
156,850 at 4.02%$750.64
156,850 at 4.03%$751.54
156,850 at 4.04%$752.45
156,850 at 4.05%$753.35
156,850 at 4.06%$754.26
156,850 at 4.07%$755.17
156,850 at 4.08%$756.08
156,850 at 4.09%$756.99
156,850 at 4.1%$757.90
156,850 at 4.11%$758.81
156,850 at 4.12%$759.72
156,850 at 4.13%$760.63
156,850 at 4.14%$761.54
156,850 at 4.15%$762.45
156,850 at 4.16%$763.37
156,850 at 4.17%$764.28
156,850 at 4.18%$765.19
156,850 at 4.19%$766.11
156,850 at 4.2%$767.02
156,850 at 4.21%$767.94
156,850 at 4.22%$768.86
156,850 at 4.23%$769.77
156,850 at 4.24%$770.69
156,850 at 4.25%$771.61
156,850 at 4.26%$772.53
156,850 at 4.27%$773.45
156,850 at 4.28%$774.36
156,850 at 4.29%$775.29
156,850 at 4.3%$776.21
156,850 at 4.31%$777.13
156,850 at 4.32%$778.05
156,850 at 4.33%$778.97
156,850 at 4.34%$779.89
156,850 at 4.35%$780.82
156,850 at 4.36%$781.74
156,850 at 4.37%$782.67
156,850 at 4.38%$783.59
156,850 at 4.39%$784.52
156,850 at 4.4%$785.44
156,850 at 4.41%$786.37
156,850 at 4.42%$787.30
156,850 at 4.43%$788.23
156,850 at 4.44%$789.15
156,850 at 4.45%$790.08
156,850 at 4.46%$791.01
156,850 at 4.47%$791.94
156,850 at 4.48%$792.87
156,850 at 4.49%$793.80
156,850 at 4.5%$794.74
156,850 at 4.51%$795.67
156,850 at 4.52%$796.60
156,850 at 4.53%$797.53
156,850 at 4.54%$798.47
156,850 at 4.55%$799.40
156,850 at 4.56%$800.34
156,850 at 4.57%$801.27
156,850 at 4.58%$802.21
156,850 at 4.59%$803.15
156,850 at 4.6%$804.08
156,850 at 4.61%$805.02
156,850 at 4.62%$805.96
156,850 at 4.63%$806.90
156,850 at 4.64%$807.84
156,850 at 4.65%$808.78
156,850 at 4.66%$809.72
156,850 at 4.67%$810.66
156,850 at 4.68%$811.60
156,850 at 4.69%$812.54
156,850 at 4.7%$813.48
156,850 at 4.71%$814.43
156,850 at 4.72%$815.37
156,850 at 4.73%$816.31
156,850 at 4.74%$817.26
156,850 at 4.75%$818.20
156,850 at 4.76%$819.15
156,850 at 4.77%$820.10
156,850 at 4.78%$821.04
156,850 at 4.79%$821.99
156,850 at 4.8%$822.94
156,850 at 4.81%$823.89
156,850 at 4.82%$824.83
156,850 at 4.83%$825.78
156,850 at 4.84%$826.73
156,850 at 4.85%$827.68
156,850 at 4.86%$828.64
156,850 at 4.87%$829.59
156,850 at 4.88%$830.54
156,850 at 4.89%$831.49
156,850 at 4.9%$832.44
156,850 at 4.91%$833.40
156,850 at 4.92%$834.35
156,850 at 4.93%$835.31
156,850 at 4.94%$836.26
156,850 at 4.95%$837.22
156,850 at 4.96%$838.17
156,850 at 4.97%$839.13
156,850 at 4.98%$840.09
156,850 at 4.99%$841.05
156,850 at 5%$842.00
Interest Rate 30 Year
156,850 at 5.01%$842.96
156,850 at 5.02%$843.92
156,850 at 5.03%$844.88
156,850 at 5.04%$845.84
156,850 at 5.05%$846.80
156,850 at 5.06%$847.77
156,850 at 5.07%$848.73
156,850 at 5.08%$849.69
156,850 at 5.09%$850.65
156,850 at 5.1%$851.62
156,850 at 5.11%$852.58
156,850 at 5.12%$853.55
156,850 at 5.13%$854.51
156,850 at 5.14%$855.48
156,850 at 5.15%$856.44
156,850 at 5.16%$857.41
156,850 at 5.17%$858.38
156,850 at 5.18%$859.34
156,850 at 5.19%$860.31
156,850 at 5.2%$861.28
156,850 at 5.21%$862.25
156,850 at 5.22%$863.22
156,850 at 5.23%$864.19
156,850 at 5.24%$865.16
156,850 at 5.25%$866.13
156,850 at 5.26%$867.10
156,850 at 5.27%$868.08
156,850 at 5.28%$869.05
156,850 at 5.29%$870.02
156,850 at 5.3%$871.00
156,850 at 5.31%$871.97
156,850 at 5.32%$872.94
156,850 at 5.33%$873.92
156,850 at 5.34%$874.90
156,850 at 5.35%$875.87
156,850 at 5.36%$876.85
156,850 at 5.37%$877.83
156,850 at 5.38%$878.80
156,850 at 5.39%$879.78
156,850 at 5.4%$880.76
156,850 at 5.41%$881.74
156,850 at 5.42%$882.72
156,850 at 5.43%$883.70
156,850 at 5.44%$884.68
156,850 at 5.45%$885.66
156,850 at 5.46%$886.64
156,850 at 5.47%$887.63
156,850 at 5.48%$888.61
156,850 at 5.49%$889.59
156,850 at 5.5%$890.58
156,850 at 5.51%$891.56
156,850 at 5.52%$892.55
156,850 at 5.53%$893.53
156,850 at 5.54%$894.52
156,850 at 5.55%$895.50
156,850 at 5.56%$896.49
156,850 at 5.57%$897.48
156,850 at 5.58%$898.47
156,850 at 5.59%$899.45
156,850 at 5.6%$900.44
156,850 at 5.61%$901.43
156,850 at 5.62%$902.42
156,850 at 5.63%$903.41
156,850 at 5.64%$904.40
156,850 at 5.65%$905.39
156,850 at 5.66%$906.39
156,850 at 5.67%$907.38
156,850 at 5.68%$908.37
156,850 at 5.69%$909.36
156,850 at 5.7%$910.36
156,850 at 5.71%$911.35
156,850 at 5.72%$912.35
156,850 at 5.73%$913.34
156,850 at 5.74%$914.34
156,850 at 5.75%$915.33
156,850 at 5.76%$916.33
156,850 at 5.77%$917.33
156,850 at 5.78%$918.33
156,850 at 5.79%$919.32
156,850 at 5.8%$920.32
156,850 at 5.81%$921.32
156,850 at 5.82%$922.32
156,850 at 5.83%$923.32
156,850 at 5.84%$924.32
156,850 at 5.85%$925.32
156,850 at 5.86%$926.32
156,850 at 5.87%$927.33
156,850 at 5.88%$928.33
156,850 at 5.89%$929.33
156,850 at 5.9%$930.33
156,850 at 5.91%$931.34
156,850 at 5.92%$932.34
156,850 at 5.93%$933.35
156,850 at 5.94%$934.35
156,850 at 5.95%$935.36
156,850 at 5.96%$936.37
156,850 at 5.97%$937.37
156,850 at 5.98%$938.38
156,850 at 5.99%$939.39
156,850 at 6%$940.39
156,850 at 6.01%$941.40
156,850 at 6.02%$942.41
156,850 at 6.03%$943.42
156,850 at 6.04%$944.43
156,850 at 6.05%$945.44
156,850 at 6.06%$946.45
156,850 at 6.07%$947.47
156,850 at 6.08%$948.48
156,850 at 6.09%$949.49
156,850 at 6.1%$950.50
156,850 at 6.11%$951.52
156,850 at 6.12%$952.53
156,850 at 6.13%$953.54
156,850 at 6.14%$954.56
156,850 at 6.15%$955.57
156,850 at 6.16%$956.59
156,850 at 6.17%$957.61
156,850 at 6.18%$958.62
156,850 at 6.19%$959.64
156,850 at 6.2%$960.66
156,850 at 6.21%$961.68
156,850 at 6.22%$962.69
156,850 at 6.23%$963.71
156,850 at 6.24%$964.73
156,850 at 6.25%$965.75
156,850 at 6.26%$966.77
156,850 at 6.27%$967.79
156,850 at 6.28%$968.81
156,850 at 6.29%$969.84
156,850 at 6.3%$970.86
156,850 at 6.31%$971.88
156,850 at 6.32%$972.90
156,850 at 6.33%$973.93
156,850 at 6.34%$974.95
156,850 at 6.35%$975.98
156,850 at 6.36%$977.00
156,850 at 6.37%$978.03
156,850 at 6.38%$979.05
156,850 at 6.39%$980.08
156,850 at 6.4%$981.11
156,850 at 6.41%$982.13
156,850 at 6.42%$983.16
156,850 at 6.43%$984.19
156,850 at 6.44%$985.22
156,850 at 6.45%$986.25
156,850 at 6.46%$987.28
156,850 at 6.47%$988.31
156,850 at 6.48%$989.34
156,850 at 6.49%$990.37
156,850 at 6.5%$991.40
Interest Rate 30 Year
156,850 at 6.51%$992.43
156,850 at 6.52%$993.46
156,850 at 6.53%$994.50
156,850 at 6.54%$995.53
156,850 at 6.55%$996.56
156,850 at 6.56%$997.60
156,850 at 6.57%$998.63
156,850 at 6.58%$999.67
156,850 at 6.59%$1,000.70
156,850 at 6.6%$1,001.74
156,850 at 6.61%$1,002.77
156,850 at 6.62%$1,003.81
156,850 at 6.63%$1,004.85
156,850 at 6.64%$1,005.88
156,850 at 6.65%$1,006.92
156,850 at 6.66%$1,007.96
156,850 at 6.67%$1,009.00
156,850 at 6.68%$1,010.04
156,850 at 6.69%$1,011.08
156,850 at 6.7%$1,012.12
156,850 at 6.71%$1,013.16
156,850 at 6.72%$1,014.20
156,850 at 6.73%$1,015.24
156,850 at 6.74%$1,016.28
156,850 at 6.75%$1,017.33
156,850 at 6.76%$1,018.37
156,850 at 6.77%$1,019.41
156,850 at 6.78%$1,020.46
156,850 at 6.79%$1,021.50
156,850 at 6.8%$1,022.54
156,850 at 6.81%$1,023.59
156,850 at 6.82%$1,024.64
156,850 at 6.83%$1,025.68
156,850 at 6.84%$1,026.73
156,850 at 6.85%$1,027.77
156,850 at 6.86%$1,028.82
156,850 at 6.87%$1,029.87
156,850 at 6.88%$1,030.92
156,850 at 6.89%$1,031.97
156,850 at 6.9%$1,033.01
156,850 at 6.91%$1,034.06
156,850 at 6.92%$1,035.11
156,850 at 6.93%$1,036.16
156,850 at 6.94%$1,037.21
156,850 at 6.95%$1,038.27
156,850 at 6.96%$1,039.32
156,850 at 6.97%$1,040.37
156,850 at 6.98%$1,041.42
156,850 at 6.99%$1,042.47
156,850 at 7%$1,043.53
156,850 at 7.01%$1,044.58
156,850 at 7.02%$1,045.63
156,850 at 7.03%$1,046.69
156,850 at 7.04%$1,047.74
156,850 at 7.05%$1,048.80
156,850 at 7.06%$1,049.85
156,850 at 7.07%$1,050.91
156,850 at 7.08%$1,051.97
156,850 at 7.09%$1,053.02
156,850 at 7.1%$1,054.08
156,850 at 7.11%$1,055.14
156,850 at 7.12%$1,056.20
156,850 at 7.13%$1,057.26
156,850 at 7.14%$1,058.32
156,850 at 7.15%$1,059.38
156,850 at 7.16%$1,060.44
156,850 at 7.17%$1,061.50
156,850 at 7.18%$1,062.56
156,850 at 7.19%$1,063.62
156,850 at 7.2%$1,064.68
156,850 at 7.21%$1,065.74
156,850 at 7.22%$1,066.80
156,850 at 7.23%$1,067.87
156,850 at 7.24%$1,068.93
156,850 at 7.25%$1,069.99
156,850 at 7.26%$1,071.06
156,850 at 7.27%$1,072.12
156,850 at 7.28%$1,073.19
156,850 at 7.29%$1,074.25
156,850 at 7.3%$1,075.32
156,850 at 7.31%$1,076.38
156,850 at 7.32%$1,077.45
156,850 at 7.33%$1,078.52
156,850 at 7.34%$1,079.58
156,850 at 7.35%$1,080.65
156,850 at 7.36%$1,081.72
156,850 at 7.37%$1,082.79
156,850 at 7.38%$1,083.86
156,850 at 7.39%$1,084.93
156,850 at 7.4%$1,086.00
156,850 at 7.41%$1,087.07
156,850 at 7.42%$1,088.14
156,850 at 7.43%$1,089.21
156,850 at 7.44%$1,090.28
156,850 at 7.45%$1,091.35
156,850 at 7.46%$1,092.43
156,850 at 7.47%$1,093.50
156,850 at 7.48%$1,094.57
156,850 at 7.49%$1,095.64
156,850 at 7.5%$1,096.72
156,850 at 7.51%$1,097.79
156,850 at 7.52%$1,098.87
156,850 at 7.53%$1,099.94
156,850 at 7.54%$1,101.02
156,850 at 7.55%$1,102.09
156,850 at 7.56%$1,103.17
156,850 at 7.57%$1,104.25
156,850 at 7.58%$1,105.32
156,850 at 7.59%$1,106.40
156,850 at 7.6%$1,107.48
156,850 at 7.61%$1,108.56
156,850 at 7.62%$1,109.64
156,850 at 7.63%$1,110.71
156,850 at 7.64%$1,111.79
156,850 at 7.65%$1,112.87
156,850 at 7.66%$1,113.95
156,850 at 7.67%$1,115.03
156,850 at 7.68%$1,116.11
156,850 at 7.69%$1,117.20
156,850 at 7.7%$1,118.28
156,850 at 7.71%$1,119.36
156,850 at 7.72%$1,120.44
156,850 at 7.73%$1,121.53
156,850 at 7.74%$1,122.61
156,850 at 7.75%$1,123.69
156,850 at 7.76%$1,124.78
156,850 at 7.77%$1,125.86
156,850 at 7.78%$1,126.95
156,850 at 7.79%$1,128.03
156,850 at 7.8%$1,129.12
156,850 at 7.81%$1,130.20
156,850 at 7.82%$1,131.29
156,850 at 7.83%$1,132.38
156,850 at 7.84%$1,133.46
156,850 at 7.85%$1,134.55
156,850 at 7.86%$1,135.64
156,850 at 7.87%$1,136.73
156,850 at 7.88%$1,137.82
156,850 at 7.89%$1,138.90
156,850 at 7.9%$1,139.99
156,850 at 7.91%$1,141.08
156,850 at 7.92%$1,142.17
156,850 at 7.93%$1,143.26
156,850 at 7.94%$1,144.36
156,850 at 7.95%$1,145.45
156,850 at 7.96%$1,146.54
156,850 at 7.97%$1,147.63
156,850 at 7.98%$1,148.72
156,850 at 7.99%$1,149.82
156,850 at 8%$1,150.91
More Amounts
What is the down payment for a $156,850 house? How much do you need to put down?
Percent Down Down Payment
1%1,569
2%3,137
3%4,706
4%6,274
5%7,843
6%9,411
7%10,980
8%12,548
9%14,117
10%15,685
11%17,254
12%18,822
13%20,391
14%21,959
15%23,528
16%25,096
17%26,665
18%28,233
19%29,802
20%31,370
Percent Down Down Payment
21%32,939
22%34,507
23%36,076
24%37,644
25%39,213
26%40,781
27%42,350
28%43,918
29%45,487
30%47,055
31%48,624
32%50,192
33%51,761
34%53,329
35%54,898
36%56,466
37%58,035
38%59,603
39%61,172
40%62,740
Percent Down Down Payment
41%64,309
42%65,877
43%67,446
44%69,014
45%70,583
46%72,151
47%73,720
48%75,288
49%76,857
50%78,425
51%79,994
52%81,562
53%83,131
54%84,699
55%86,268
56%87,836
57%89,405
58%90,973
59%92,542
60%94,110
Percent Down Down Payment
61%95,679
62%97,247
63%98,816
64%100,384
65%101,953
66%103,521
67%105,090
68%106,658
69%108,227
70%109,795
71%111,364
72%112,932
73%114,501
74%116,069
75%117,638
76%119,206
77%120,775
78%122,343
79%123,912
80%125,480
Percent Down Down Payment
81%127,049
82%128,617
83%130,186
84%131,754
85%133,323
86%134,891
87%136,460
88%138,028
89%139,597
90%141,165
91%142,734
92%144,302
93%145,871
94%147,439
95%149,008
96%150,576
97%152,145
98%153,713
99%155,282
100%156,850
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.