$157,000 Mortgage for 30 Years

What is the monthly payment of a 157,000 dollar loan?
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Loan Tables for a $157,000 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 $157,000 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
157,000 at 2.01%$581.09
157,000 at 2.02%$581.87
157,000 at 2.03%$582.66
157,000 at 2.04%$583.45
157,000 at 2.05%$584.24
157,000 at 2.06%$585.02
157,000 at 2.07%$585.81
157,000 at 2.08%$586.60
157,000 at 2.09%$587.39
157,000 at 2.1%$588.19
157,000 at 2.11%$588.98
157,000 at 2.12%$589.77
157,000 at 2.13%$590.56
157,000 at 2.14%$591.36
157,000 at 2.15%$592.15
157,000 at 2.16%$592.94
157,000 at 2.17%$593.74
157,000 at 2.18%$594.54
157,000 at 2.19%$595.33
157,000 at 2.2%$596.13
157,000 at 2.21%$596.93
157,000 at 2.22%$597.73
157,000 at 2.23%$598.53
157,000 at 2.24%$599.33
157,000 at 2.25%$600.13
157,000 at 2.26%$600.93
157,000 at 2.27%$601.73
157,000 at 2.28%$602.53
157,000 at 2.29%$603.33
157,000 at 2.3%$604.14
157,000 at 2.31%$604.94
157,000 at 2.32%$605.75
157,000 at 2.33%$606.55
157,000 at 2.34%$607.36
157,000 at 2.35%$608.17
157,000 at 2.36%$608.97
157,000 at 2.37%$609.78
157,000 at 2.38%$610.59
157,000 at 2.39%$611.40
157,000 at 2.4%$612.21
157,000 at 2.41%$613.02
157,000 at 2.42%$613.83
157,000 at 2.43%$614.64
157,000 at 2.44%$615.45
157,000 at 2.45%$616.27
157,000 at 2.46%$617.08
157,000 at 2.47%$617.89
157,000 at 2.48%$618.71
157,000 at 2.49%$619.52
157,000 at 2.5%$620.34
157,000 at 2.51%$621.16
157,000 at 2.52%$621.97
157,000 at 2.53%$622.79
157,000 at 2.54%$623.61
157,000 at 2.55%$624.43
157,000 at 2.56%$625.25
157,000 at 2.57%$626.07
157,000 at 2.58%$626.89
157,000 at 2.59%$627.71
157,000 at 2.6%$628.53
157,000 at 2.61%$629.36
157,000 at 2.62%$630.18
157,000 at 2.63%$631.00
157,000 at 2.64%$631.83
157,000 at 2.65%$632.65
157,000 at 2.66%$633.48
157,000 at 2.67%$634.31
157,000 at 2.68%$635.13
157,000 at 2.69%$635.96
157,000 at 2.7%$636.79
157,000 at 2.71%$637.62
157,000 at 2.72%$638.45
157,000 at 2.73%$639.28
157,000 at 2.74%$640.11
157,000 at 2.75%$640.94
157,000 at 2.76%$641.77
157,000 at 2.77%$642.60
157,000 at 2.78%$643.44
157,000 at 2.79%$644.27
157,000 at 2.8%$645.10
157,000 at 2.81%$645.94
157,000 at 2.82%$646.77
157,000 at 2.83%$647.61
157,000 at 2.84%$648.45
157,000 at 2.85%$649.29
157,000 at 2.86%$650.12
157,000 at 2.87%$650.96
157,000 at 2.88%$651.80
157,000 at 2.89%$652.64
157,000 at 2.9%$653.48
157,000 at 2.91%$654.32
157,000 at 2.92%$655.16
157,000 at 2.93%$656.01
157,000 at 2.94%$656.85
157,000 at 2.95%$657.69
157,000 at 2.96%$658.54
157,000 at 2.97%$659.38
157,000 at 2.98%$660.23
157,000 at 2.99%$661.07
157,000 at 3%$661.92
157,000 at 3.01%$662.77
157,000 at 3.02%$663.61
157,000 at 3.03%$664.46
157,000 at 3.04%$665.31
157,000 at 3.05%$666.16
157,000 at 3.06%$667.01
157,000 at 3.07%$667.86
157,000 at 3.08%$668.71
157,000 at 3.09%$669.56
157,000 at 3.1%$670.42
157,000 at 3.11%$671.27
157,000 at 3.12%$672.12
157,000 at 3.13%$672.98
157,000 at 3.14%$673.83
157,000 at 3.15%$674.69
157,000 at 3.16%$675.54
157,000 at 3.17%$676.40
157,000 at 3.18%$677.26
157,000 at 3.19%$678.11
157,000 at 3.2%$678.97
157,000 at 3.21%$679.83
157,000 at 3.22%$680.69
157,000 at 3.23%$681.55
157,000 at 3.24%$682.41
157,000 at 3.25%$683.27
157,000 at 3.26%$684.14
157,000 at 3.27%$685.00
157,000 at 3.28%$685.86
157,000 at 3.29%$686.73
157,000 at 3.3%$687.59
157,000 at 3.31%$688.45
157,000 at 3.32%$689.32
157,000 at 3.33%$690.19
157,000 at 3.34%$691.05
157,000 at 3.35%$691.92
157,000 at 3.36%$692.79
157,000 at 3.37%$693.66
157,000 at 3.38%$694.53
157,000 at 3.39%$695.40
157,000 at 3.4%$696.27
157,000 at 3.41%$697.14
157,000 at 3.42%$698.01
157,000 at 3.43%$698.88
157,000 at 3.44%$699.75
157,000 at 3.45%$700.63
157,000 at 3.46%$701.50
157,000 at 3.47%$702.37
157,000 at 3.48%$703.25
157,000 at 3.49%$704.12
157,000 at 3.5%$705.00
Interest Rate 30 Year
157,000 at 3.51%$705.88
157,000 at 3.52%$706.75
157,000 at 3.53%$707.63
157,000 at 3.54%$708.51
157,000 at 3.55%$709.39
157,000 at 3.56%$710.27
157,000 at 3.57%$711.15
157,000 at 3.58%$712.03
157,000 at 3.59%$712.91
157,000 at 3.6%$713.79
157,000 at 3.61%$714.68
157,000 at 3.62%$715.56
157,000 at 3.63%$716.44
157,000 at 3.64%$717.33
157,000 at 3.65%$718.21
157,000 at 3.66%$719.10
157,000 at 3.67%$719.98
157,000 at 3.68%$720.87
157,000 at 3.69%$721.76
157,000 at 3.7%$722.64
157,000 at 3.71%$723.53
157,000 at 3.72%$724.42
157,000 at 3.73%$725.31
157,000 at 3.74%$726.20
157,000 at 3.75%$727.09
157,000 at 3.76%$727.98
157,000 at 3.77%$728.87
157,000 at 3.78%$729.77
157,000 at 3.79%$730.66
157,000 at 3.8%$731.55
157,000 at 3.81%$732.45
157,000 at 3.82%$733.34
157,000 at 3.83%$734.24
157,000 at 3.84%$735.13
157,000 at 3.85%$736.03
157,000 at 3.86%$736.93
157,000 at 3.87%$737.82
157,000 at 3.88%$738.72
157,000 at 3.89%$739.62
157,000 at 3.9%$740.52
157,000 at 3.91%$741.42
157,000 at 3.92%$742.32
157,000 at 3.93%$743.22
157,000 at 3.94%$744.12
157,000 at 3.95%$745.02
157,000 at 3.96%$745.93
157,000 at 3.97%$746.83
157,000 at 3.98%$747.73
157,000 at 3.99%$748.64
157,000 at 4%$749.54
157,000 at 4.01%$750.45
157,000 at 4.02%$751.35
157,000 at 4.03%$752.26
157,000 at 4.04%$753.17
157,000 at 4.05%$754.07
157,000 at 4.06%$754.98
157,000 at 4.07%$755.89
157,000 at 4.08%$756.80
157,000 at 4.09%$757.71
157,000 at 4.1%$758.62
157,000 at 4.11%$759.53
157,000 at 4.12%$760.44
157,000 at 4.13%$761.36
157,000 at 4.14%$762.27
157,000 at 4.15%$763.18
157,000 at 4.16%$764.10
157,000 at 4.17%$765.01
157,000 at 4.18%$765.93
157,000 at 4.19%$766.84
157,000 at 4.2%$767.76
157,000 at 4.21%$768.67
157,000 at 4.22%$769.59
157,000 at 4.23%$770.51
157,000 at 4.24%$771.43
157,000 at 4.25%$772.35
157,000 at 4.26%$773.27
157,000 at 4.27%$774.18
157,000 at 4.28%$775.11
157,000 at 4.29%$776.03
157,000 at 4.3%$776.95
157,000 at 4.31%$777.87
157,000 at 4.32%$778.79
157,000 at 4.33%$779.72
157,000 at 4.34%$780.64
157,000 at 4.35%$781.56
157,000 at 4.36%$782.49
157,000 at 4.37%$783.41
157,000 at 4.38%$784.34
157,000 at 4.39%$785.27
157,000 at 4.4%$786.19
157,000 at 4.41%$787.12
157,000 at 4.42%$788.05
157,000 at 4.43%$788.98
157,000 at 4.44%$789.91
157,000 at 4.45%$790.84
157,000 at 4.46%$791.77
157,000 at 4.47%$792.70
157,000 at 4.48%$793.63
157,000 at 4.49%$794.56
157,000 at 4.5%$795.50
157,000 at 4.51%$796.43
157,000 at 4.52%$797.36
157,000 at 4.53%$798.30
157,000 at 4.54%$799.23
157,000 at 4.55%$800.17
157,000 at 4.56%$801.10
157,000 at 4.57%$802.04
157,000 at 4.58%$802.98
157,000 at 4.59%$803.91
157,000 at 4.6%$804.85
157,000 at 4.61%$805.79
157,000 at 4.62%$806.73
157,000 at 4.63%$807.67
157,000 at 4.64%$808.61
157,000 at 4.65%$809.55
157,000 at 4.66%$810.49
157,000 at 4.67%$811.43
157,000 at 4.68%$812.38
157,000 at 4.69%$813.32
157,000 at 4.7%$814.26
157,000 at 4.71%$815.21
157,000 at 4.72%$816.15
157,000 at 4.73%$817.09
157,000 at 4.74%$818.04
157,000 at 4.75%$818.99
157,000 at 4.76%$819.93
157,000 at 4.77%$820.88
157,000 at 4.78%$821.83
157,000 at 4.79%$822.78
157,000 at 4.8%$823.72
157,000 at 4.81%$824.67
157,000 at 4.82%$825.62
157,000 at 4.83%$826.57
157,000 at 4.84%$827.52
157,000 at 4.85%$828.48
157,000 at 4.86%$829.43
157,000 at 4.87%$830.38
157,000 at 4.88%$831.33
157,000 at 4.89%$832.29
157,000 at 4.9%$833.24
157,000 at 4.91%$834.20
157,000 at 4.92%$835.15
157,000 at 4.93%$836.11
157,000 at 4.94%$837.06
157,000 at 4.95%$838.02
157,000 at 4.96%$838.98
157,000 at 4.97%$839.93
157,000 at 4.98%$840.89
157,000 at 4.99%$841.85
157,000 at 5%$842.81
Interest Rate 30 Year
157,000 at 5.01%$843.77
157,000 at 5.02%$844.73
157,000 at 5.03%$845.69
157,000 at 5.04%$846.65
157,000 at 5.05%$847.61
157,000 at 5.06%$848.58
157,000 at 5.07%$849.54
157,000 at 5.08%$850.50
157,000 at 5.09%$851.47
157,000 at 5.1%$852.43
157,000 at 5.11%$853.40
157,000 at 5.12%$854.36
157,000 at 5.13%$855.33
157,000 at 5.14%$856.29
157,000 at 5.15%$857.26
157,000 at 5.16%$858.23
157,000 at 5.17%$859.20
157,000 at 5.18%$860.17
157,000 at 5.19%$861.13
157,000 at 5.2%$862.10
157,000 at 5.21%$863.07
157,000 at 5.22%$864.04
157,000 at 5.23%$865.02
157,000 at 5.24%$865.99
157,000 at 5.25%$866.96
157,000 at 5.26%$867.93
157,000 at 5.27%$868.91
157,000 at 5.28%$869.88
157,000 at 5.29%$870.85
157,000 at 5.3%$871.83
157,000 at 5.31%$872.80
157,000 at 5.32%$873.78
157,000 at 5.33%$874.76
157,000 at 5.34%$875.73
157,000 at 5.35%$876.71
157,000 at 5.36%$877.69
157,000 at 5.37%$878.67
157,000 at 5.38%$879.64
157,000 at 5.39%$880.62
157,000 at 5.4%$881.60
157,000 at 5.41%$882.58
157,000 at 5.42%$883.56
157,000 at 5.43%$884.55
157,000 at 5.44%$885.53
157,000 at 5.45%$886.51
157,000 at 5.46%$887.49
157,000 at 5.47%$888.48
157,000 at 5.48%$889.46
157,000 at 5.49%$890.44
157,000 at 5.5%$891.43
157,000 at 5.51%$892.41
157,000 at 5.52%$893.40
157,000 at 5.53%$894.39
157,000 at 5.54%$895.37
157,000 at 5.55%$896.36
157,000 at 5.56%$897.35
157,000 at 5.57%$898.34
157,000 at 5.58%$899.32
157,000 at 5.59%$900.31
157,000 at 5.6%$901.30
157,000 at 5.61%$902.29
157,000 at 5.62%$903.28
157,000 at 5.63%$904.28
157,000 at 5.64%$905.27
157,000 at 5.65%$906.26
157,000 at 5.66%$907.25
157,000 at 5.67%$908.25
157,000 at 5.68%$909.24
157,000 at 5.69%$910.23
157,000 at 5.7%$911.23
157,000 at 5.71%$912.22
157,000 at 5.72%$913.22
157,000 at 5.73%$914.22
157,000 at 5.74%$915.21
157,000 at 5.75%$916.21
157,000 at 5.76%$917.21
157,000 at 5.77%$918.21
157,000 at 5.78%$919.20
157,000 at 5.79%$920.20
157,000 at 5.8%$921.20
157,000 at 5.81%$922.20
157,000 at 5.82%$923.20
157,000 at 5.83%$924.20
157,000 at 5.84%$925.21
157,000 at 5.85%$926.21
157,000 at 5.86%$927.21
157,000 at 5.87%$928.21
157,000 at 5.88%$929.22
157,000 at 5.89%$930.22
157,000 at 5.9%$931.22
157,000 at 5.91%$932.23
157,000 at 5.92%$933.23
157,000 at 5.93%$934.24
157,000 at 5.94%$935.25
157,000 at 5.95%$936.25
157,000 at 5.96%$937.26
157,000 at 5.97%$938.27
157,000 at 5.98%$939.28
157,000 at 5.99%$940.29
157,000 at 6%$941.29
157,000 at 6.01%$942.30
157,000 at 6.02%$943.31
157,000 at 6.03%$944.32
157,000 at 6.04%$945.34
157,000 at 6.05%$946.35
157,000 at 6.06%$947.36
157,000 at 6.07%$948.37
157,000 at 6.08%$949.38
157,000 at 6.09%$950.40
157,000 at 6.1%$951.41
157,000 at 6.11%$952.43
157,000 at 6.12%$953.44
157,000 at 6.13%$954.46
157,000 at 6.14%$955.47
157,000 at 6.15%$956.49
157,000 at 6.16%$957.50
157,000 at 6.17%$958.52
157,000 at 6.18%$959.54
157,000 at 6.19%$960.56
157,000 at 6.2%$961.58
157,000 at 6.21%$962.60
157,000 at 6.22%$963.61
157,000 at 6.23%$964.63
157,000 at 6.24%$965.66
157,000 at 6.25%$966.68
157,000 at 6.26%$967.70
157,000 at 6.27%$968.72
157,000 at 6.28%$969.74
157,000 at 6.29%$970.76
157,000 at 6.3%$971.79
157,000 at 6.31%$972.81
157,000 at 6.32%$973.84
157,000 at 6.33%$974.86
157,000 at 6.34%$975.88
157,000 at 6.35%$976.91
157,000 at 6.36%$977.94
157,000 at 6.37%$978.96
157,000 at 6.38%$979.99
157,000 at 6.39%$981.02
157,000 at 6.4%$982.04
157,000 at 6.41%$983.07
157,000 at 6.42%$984.10
157,000 at 6.43%$985.13
157,000 at 6.44%$986.16
157,000 at 6.45%$987.19
157,000 at 6.46%$988.22
157,000 at 6.47%$989.25
157,000 at 6.48%$990.28
157,000 at 6.49%$991.31
157,000 at 6.5%$992.35
Interest Rate 30 Year
157,000 at 6.51%$993.38
157,000 at 6.52%$994.41
157,000 at 6.53%$995.45
157,000 at 6.54%$996.48
157,000 at 6.55%$997.51
157,000 at 6.56%$998.55
157,000 at 6.57%$999.59
157,000 at 6.58%$1,000.62
157,000 at 6.59%$1,001.66
157,000 at 6.6%$1,002.69
157,000 at 6.61%$1,003.73
157,000 at 6.62%$1,004.77
157,000 at 6.63%$1,005.81
157,000 at 6.64%$1,006.85
157,000 at 6.65%$1,007.88
157,000 at 6.66%$1,008.92
157,000 at 6.67%$1,009.96
157,000 at 6.68%$1,011.00
157,000 at 6.69%$1,012.05
157,000 at 6.7%$1,013.09
157,000 at 6.71%$1,014.13
157,000 at 6.72%$1,015.17
157,000 at 6.73%$1,016.21
157,000 at 6.74%$1,017.26
157,000 at 6.75%$1,018.30
157,000 at 6.76%$1,019.34
157,000 at 6.77%$1,020.39
157,000 at 6.78%$1,021.43
157,000 at 6.79%$1,022.48
157,000 at 6.8%$1,023.52
157,000 at 6.81%$1,024.57
157,000 at 6.82%$1,025.62
157,000 at 6.83%$1,026.66
157,000 at 6.84%$1,027.71
157,000 at 6.85%$1,028.76
157,000 at 6.86%$1,029.81
157,000 at 6.87%$1,030.85
157,000 at 6.88%$1,031.90
157,000 at 6.89%$1,032.95
157,000 at 6.9%$1,034.00
157,000 at 6.91%$1,035.05
157,000 at 6.92%$1,036.10
157,000 at 6.93%$1,037.15
157,000 at 6.94%$1,038.21
157,000 at 6.95%$1,039.26
157,000 at 6.96%$1,040.31
157,000 at 6.97%$1,041.36
157,000 at 6.98%$1,042.42
157,000 at 6.99%$1,043.47
157,000 at 7%$1,044.52
157,000 at 7.01%$1,045.58
157,000 at 7.02%$1,046.63
157,000 at 7.03%$1,047.69
157,000 at 7.04%$1,048.75
157,000 at 7.05%$1,049.80
157,000 at 7.06%$1,050.86
157,000 at 7.07%$1,051.92
157,000 at 7.08%$1,052.97
157,000 at 7.09%$1,054.03
157,000 at 7.1%$1,055.09
157,000 at 7.11%$1,056.15
157,000 at 7.12%$1,057.21
157,000 at 7.13%$1,058.27
157,000 at 7.14%$1,059.33
157,000 at 7.15%$1,060.39
157,000 at 7.16%$1,061.45
157,000 at 7.17%$1,062.51
157,000 at 7.18%$1,063.57
157,000 at 7.19%$1,064.63
157,000 at 7.2%$1,065.70
157,000 at 7.21%$1,066.76
157,000 at 7.22%$1,067.82
157,000 at 7.23%$1,068.89
157,000 at 7.24%$1,069.95
157,000 at 7.25%$1,071.02
157,000 at 7.26%$1,072.08
157,000 at 7.27%$1,073.15
157,000 at 7.28%$1,074.21
157,000 at 7.29%$1,075.28
157,000 at 7.3%$1,076.35
157,000 at 7.31%$1,077.41
157,000 at 7.32%$1,078.48
157,000 at 7.33%$1,079.55
157,000 at 7.34%$1,080.62
157,000 at 7.35%$1,081.69
157,000 at 7.36%$1,082.76
157,000 at 7.37%$1,083.83
157,000 at 7.38%$1,084.90
157,000 at 7.39%$1,085.97
157,000 at 7.4%$1,087.04
157,000 at 7.41%$1,088.11
157,000 at 7.42%$1,089.18
157,000 at 7.43%$1,090.25
157,000 at 7.44%$1,091.32
157,000 at 7.45%$1,092.40
157,000 at 7.46%$1,093.47
157,000 at 7.47%$1,094.54
157,000 at 7.48%$1,095.62
157,000 at 7.49%$1,096.69
157,000 at 7.5%$1,097.77
157,000 at 7.51%$1,098.84
157,000 at 7.52%$1,099.92
157,000 at 7.53%$1,100.99
157,000 at 7.54%$1,102.07
157,000 at 7.55%$1,103.15
157,000 at 7.56%$1,104.22
157,000 at 7.57%$1,105.30
157,000 at 7.58%$1,106.38
157,000 at 7.59%$1,107.46
157,000 at 7.6%$1,108.54
157,000 at 7.61%$1,109.62
157,000 at 7.62%$1,110.70
157,000 at 7.63%$1,111.78
157,000 at 7.64%$1,112.86
157,000 at 7.65%$1,113.94
157,000 at 7.66%$1,115.02
157,000 at 7.67%$1,116.10
157,000 at 7.68%$1,117.18
157,000 at 7.69%$1,118.26
157,000 at 7.7%$1,119.35
157,000 at 7.71%$1,120.43
157,000 at 7.72%$1,121.51
157,000 at 7.73%$1,122.60
157,000 at 7.74%$1,123.68
157,000 at 7.75%$1,124.77
157,000 at 7.76%$1,125.85
157,000 at 7.77%$1,126.94
157,000 at 7.78%$1,128.02
157,000 at 7.79%$1,129.11
157,000 at 7.8%$1,130.20
157,000 at 7.81%$1,131.28
157,000 at 7.82%$1,132.37
157,000 at 7.83%$1,133.46
157,000 at 7.84%$1,134.55
157,000 at 7.85%$1,135.64
157,000 at 7.86%$1,136.72
157,000 at 7.87%$1,137.81
157,000 at 7.88%$1,138.90
157,000 at 7.89%$1,139.99
157,000 at 7.9%$1,141.08
157,000 at 7.91%$1,142.18
157,000 at 7.92%$1,143.27
157,000 at 7.93%$1,144.36
157,000 at 7.94%$1,145.45
157,000 at 7.95%$1,146.54
157,000 at 7.96%$1,147.64
157,000 at 7.97%$1,148.73
157,000 at 7.98%$1,149.82
157,000 at 7.99%$1,150.92
157,000 at 8%$1,152.01
More Amounts
What is the down payment for a $157,000 house? How much do you need to put down?
Percent Down Down Payment
1%1,570
2%3,140
3%4,710
4%6,280
5%7,850
6%9,420
7%10,990
8%12,560
9%14,130
10%15,700
11%17,270
12%18,840
13%20,410
14%21,980
15%23,550
16%25,120
17%26,690
18%28,260
19%29,830
20%31,400
Percent Down Down Payment
21%32,970
22%34,540
23%36,110
24%37,680
25%39,250
26%40,820
27%42,390
28%43,960
29%45,530
30%47,100
31%48,670
32%50,240
33%51,810
34%53,380
35%54,950
36%56,520
37%58,090
38%59,660
39%61,230
40%62,800
Percent Down Down Payment
41%64,370
42%65,940
43%67,510
44%69,080
45%70,650
46%72,220
47%73,790
48%75,360
49%76,930
50%78,500
51%80,070
52%81,640
53%83,210
54%84,780
55%86,350
56%87,920
57%89,490
58%91,060
59%92,630
60%94,200
Percent Down Down Payment
61%95,770
62%97,340
63%98,910
64%100,480
65%102,050
66%103,620
67%105,190
68%106,760
69%108,330
70%109,900
71%111,470
72%113,040
73%114,610
74%116,180
75%117,750
76%119,320
77%120,890
78%122,460
79%124,030
80%125,600
Percent Down Down Payment
81%127,170
82%128,740
83%130,310
84%131,880
85%133,450
86%135,020
87%136,590
88%138,160
89%139,730
90%141,300
91%142,870
92%144,440
93%146,010
94%147,580
95%149,150
96%150,720
97%152,290
98%153,860
99%155,430
100%157,000
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.