$157,200 Mortgage for 30 Years

What is the monthly payment of a 157,200 dollar loan?
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Loan Tables for a $157,200 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 $157,200 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
157,200 at 2.01%$581.83
157,200 at 2.02%$582.62
157,200 at 2.03%$583.40
157,200 at 2.04%$584.19
157,200 at 2.05%$584.98
157,200 at 2.06%$585.77
157,200 at 2.07%$586.56
157,200 at 2.08%$587.35
157,200 at 2.09%$588.14
157,200 at 2.1%$588.93
157,200 at 2.11%$589.73
157,200 at 2.12%$590.52
157,200 at 2.13%$591.31
157,200 at 2.14%$592.11
157,200 at 2.15%$592.90
157,200 at 2.16%$593.70
157,200 at 2.17%$594.50
157,200 at 2.18%$595.29
157,200 at 2.19%$596.09
157,200 at 2.2%$596.89
157,200 at 2.21%$597.69
157,200 at 2.22%$598.49
157,200 at 2.23%$599.29
157,200 at 2.24%$600.09
157,200 at 2.25%$600.89
157,200 at 2.26%$601.69
157,200 at 2.27%$602.50
157,200 at 2.28%$603.30
157,200 at 2.29%$604.10
157,200 at 2.3%$604.91
157,200 at 2.31%$605.71
157,200 at 2.32%$606.52
157,200 at 2.33%$607.33
157,200 at 2.34%$608.13
157,200 at 2.35%$608.94
157,200 at 2.36%$609.75
157,200 at 2.37%$610.56
157,200 at 2.38%$611.37
157,200 at 2.39%$612.18
157,200 at 2.4%$612.99
157,200 at 2.41%$613.80
157,200 at 2.42%$614.61
157,200 at 2.43%$615.42
157,200 at 2.44%$616.24
157,200 at 2.45%$617.05
157,200 at 2.46%$617.87
157,200 at 2.47%$618.68
157,200 at 2.48%$619.50
157,200 at 2.49%$620.31
157,200 at 2.5%$621.13
157,200 at 2.51%$621.95
157,200 at 2.52%$622.77
157,200 at 2.53%$623.58
157,200 at 2.54%$624.40
157,200 at 2.55%$625.22
157,200 at 2.56%$626.05
157,200 at 2.57%$626.87
157,200 at 2.58%$627.69
157,200 at 2.59%$628.51
157,200 at 2.6%$629.33
157,200 at 2.61%$630.16
157,200 at 2.62%$630.98
157,200 at 2.63%$631.81
157,200 at 2.64%$632.63
157,200 at 2.65%$633.46
157,200 at 2.66%$634.29
157,200 at 2.67%$635.11
157,200 at 2.68%$635.94
157,200 at 2.69%$636.77
157,200 at 2.7%$637.60
157,200 at 2.71%$638.43
157,200 at 2.72%$639.26
157,200 at 2.73%$640.09
157,200 at 2.74%$640.92
157,200 at 2.75%$641.76
157,200 at 2.76%$642.59
157,200 at 2.77%$643.42
157,200 at 2.78%$644.26
157,200 at 2.79%$645.09
157,200 at 2.8%$645.93
157,200 at 2.81%$646.76
157,200 at 2.82%$647.60
157,200 at 2.83%$648.44
157,200 at 2.84%$649.27
157,200 at 2.85%$650.11
157,200 at 2.86%$650.95
157,200 at 2.87%$651.79
157,200 at 2.88%$652.63
157,200 at 2.89%$653.47
157,200 at 2.9%$654.31
157,200 at 2.91%$655.16
157,200 at 2.92%$656.00
157,200 at 2.93%$656.84
157,200 at 2.94%$657.69
157,200 at 2.95%$658.53
157,200 at 2.96%$659.38
157,200 at 2.97%$660.22
157,200 at 2.98%$661.07
157,200 at 2.99%$661.91
157,200 at 3%$662.76
157,200 at 3.01%$663.61
157,200 at 3.02%$664.46
157,200 at 3.03%$665.31
157,200 at 3.04%$666.16
157,200 at 3.05%$667.01
157,200 at 3.06%$667.86
157,200 at 3.07%$668.71
157,200 at 3.08%$669.56
157,200 at 3.09%$670.42
157,200 at 3.1%$671.27
157,200 at 3.11%$672.12
157,200 at 3.12%$672.98
157,200 at 3.13%$673.83
157,200 at 3.14%$674.69
157,200 at 3.15%$675.55
157,200 at 3.16%$676.40
157,200 at 3.17%$677.26
157,200 at 3.18%$678.12
157,200 at 3.19%$678.98
157,200 at 3.2%$679.84
157,200 at 3.21%$680.70
157,200 at 3.22%$681.56
157,200 at 3.23%$682.42
157,200 at 3.24%$683.28
157,200 at 3.25%$684.14
157,200 at 3.26%$685.01
157,200 at 3.27%$685.87
157,200 at 3.28%$686.74
157,200 at 3.29%$687.60
157,200 at 3.3%$688.47
157,200 at 3.31%$689.33
157,200 at 3.32%$690.20
157,200 at 3.33%$691.07
157,200 at 3.34%$691.93
157,200 at 3.35%$692.80
157,200 at 3.36%$693.67
157,200 at 3.37%$694.54
157,200 at 3.38%$695.41
157,200 at 3.39%$696.28
157,200 at 3.4%$697.15
157,200 at 3.41%$698.02
157,200 at 3.42%$698.90
157,200 at 3.43%$699.77
157,200 at 3.44%$700.64
157,200 at 3.45%$701.52
157,200 at 3.46%$702.39
157,200 at 3.47%$703.27
157,200 at 3.48%$704.14
157,200 at 3.49%$705.02
157,200 at 3.5%$705.90
Interest Rate 30 Year
157,200 at 3.51%$706.78
157,200 at 3.52%$707.65
157,200 at 3.53%$708.53
157,200 at 3.54%$709.41
157,200 at 3.55%$710.29
157,200 at 3.56%$711.17
157,200 at 3.57%$712.06
157,200 at 3.58%$712.94
157,200 at 3.59%$713.82
157,200 at 3.6%$714.70
157,200 at 3.61%$715.59
157,200 at 3.62%$716.47
157,200 at 3.63%$717.36
157,200 at 3.64%$718.24
157,200 at 3.65%$719.13
157,200 at 3.66%$720.01
157,200 at 3.67%$720.90
157,200 at 3.68%$721.79
157,200 at 3.69%$722.68
157,200 at 3.7%$723.56
157,200 at 3.71%$724.45
157,200 at 3.72%$725.34
157,200 at 3.73%$726.23
157,200 at 3.74%$727.13
157,200 at 3.75%$728.02
157,200 at 3.76%$728.91
157,200 at 3.77%$729.80
157,200 at 3.78%$730.70
157,200 at 3.79%$731.59
157,200 at 3.8%$732.48
157,200 at 3.81%$733.38
157,200 at 3.82%$734.28
157,200 at 3.83%$735.17
157,200 at 3.84%$736.07
157,200 at 3.85%$736.97
157,200 at 3.86%$737.86
157,200 at 3.87%$738.76
157,200 at 3.88%$739.66
157,200 at 3.89%$740.56
157,200 at 3.9%$741.46
157,200 at 3.91%$742.36
157,200 at 3.92%$743.26
157,200 at 3.93%$744.17
157,200 at 3.94%$745.07
157,200 at 3.95%$745.97
157,200 at 3.96%$746.88
157,200 at 3.97%$747.78
157,200 at 3.98%$748.69
157,200 at 3.99%$749.59
157,200 at 4%$750.50
157,200 at 4.01%$751.40
157,200 at 4.02%$752.31
157,200 at 4.03%$753.22
157,200 at 4.04%$754.13
157,200 at 4.05%$755.04
157,200 at 4.06%$755.94
157,200 at 4.07%$756.85
157,200 at 4.08%$757.77
157,200 at 4.09%$758.68
157,200 at 4.1%$759.59
157,200 at 4.11%$760.50
157,200 at 4.12%$761.41
157,200 at 4.13%$762.33
157,200 at 4.14%$763.24
157,200 at 4.15%$764.15
157,200 at 4.16%$765.07
157,200 at 4.17%$765.98
157,200 at 4.18%$766.90
157,200 at 4.19%$767.82
157,200 at 4.2%$768.73
157,200 at 4.21%$769.65
157,200 at 4.22%$770.57
157,200 at 4.23%$771.49
157,200 at 4.24%$772.41
157,200 at 4.25%$773.33
157,200 at 4.26%$774.25
157,200 at 4.27%$775.17
157,200 at 4.28%$776.09
157,200 at 4.29%$777.02
157,200 at 4.3%$777.94
157,200 at 4.31%$778.86
157,200 at 4.32%$779.79
157,200 at 4.33%$780.71
157,200 at 4.34%$781.63
157,200 at 4.35%$782.56
157,200 at 4.36%$783.49
157,200 at 4.37%$784.41
157,200 at 4.38%$785.34
157,200 at 4.39%$786.27
157,200 at 4.4%$787.20
157,200 at 4.41%$788.13
157,200 at 4.42%$789.05
157,200 at 4.43%$789.98
157,200 at 4.44%$790.91
157,200 at 4.45%$791.85
157,200 at 4.46%$792.78
157,200 at 4.47%$793.71
157,200 at 4.48%$794.64
157,200 at 4.49%$795.58
157,200 at 4.5%$796.51
157,200 at 4.51%$797.44
157,200 at 4.52%$798.38
157,200 at 4.53%$799.31
157,200 at 4.54%$800.25
157,200 at 4.55%$801.19
157,200 at 4.56%$802.12
157,200 at 4.57%$803.06
157,200 at 4.58%$804.00
157,200 at 4.59%$804.94
157,200 at 4.6%$805.88
157,200 at 4.61%$806.82
157,200 at 4.62%$807.76
157,200 at 4.63%$808.70
157,200 at 4.64%$809.64
157,200 at 4.65%$810.58
157,200 at 4.66%$811.52
157,200 at 4.67%$812.47
157,200 at 4.68%$813.41
157,200 at 4.69%$814.35
157,200 at 4.7%$815.30
157,200 at 4.71%$816.24
157,200 at 4.72%$817.19
157,200 at 4.73%$818.14
157,200 at 4.74%$819.08
157,200 at 4.75%$820.03
157,200 at 4.76%$820.98
157,200 at 4.77%$821.93
157,200 at 4.78%$822.87
157,200 at 4.79%$823.82
157,200 at 4.8%$824.77
157,200 at 4.81%$825.72
157,200 at 4.82%$826.68
157,200 at 4.83%$827.63
157,200 at 4.84%$828.58
157,200 at 4.85%$829.53
157,200 at 4.86%$830.48
157,200 at 4.87%$831.44
157,200 at 4.88%$832.39
157,200 at 4.89%$833.35
157,200 at 4.9%$834.30
157,200 at 4.91%$835.26
157,200 at 4.92%$836.21
157,200 at 4.93%$837.17
157,200 at 4.94%$838.13
157,200 at 4.95%$839.09
157,200 at 4.96%$840.04
157,200 at 4.97%$841.00
157,200 at 4.98%$841.96
157,200 at 4.99%$842.92
157,200 at 5%$843.88
Interest Rate 30 Year
157,200 at 5.01%$844.84
157,200 at 5.02%$845.81
157,200 at 5.03%$846.77
157,200 at 5.04%$847.73
157,200 at 5.05%$848.69
157,200 at 5.06%$849.66
157,200 at 5.07%$850.62
157,200 at 5.08%$851.59
157,200 at 5.09%$852.55
157,200 at 5.1%$853.52
157,200 at 5.11%$854.48
157,200 at 5.12%$855.45
157,200 at 5.13%$856.42
157,200 at 5.14%$857.38
157,200 at 5.15%$858.35
157,200 at 5.16%$859.32
157,200 at 5.17%$860.29
157,200 at 5.18%$861.26
157,200 at 5.19%$862.23
157,200 at 5.2%$863.20
157,200 at 5.21%$864.17
157,200 at 5.22%$865.15
157,200 at 5.23%$866.12
157,200 at 5.24%$867.09
157,200 at 5.25%$868.06
157,200 at 5.26%$869.04
157,200 at 5.27%$870.01
157,200 at 5.28%$870.99
157,200 at 5.29%$871.96
157,200 at 5.3%$872.94
157,200 at 5.31%$873.92
157,200 at 5.32%$874.89
157,200 at 5.33%$875.87
157,200 at 5.34%$876.85
157,200 at 5.35%$877.83
157,200 at 5.36%$878.81
157,200 at 5.37%$879.78
157,200 at 5.38%$880.76
157,200 at 5.39%$881.75
157,200 at 5.4%$882.73
157,200 at 5.41%$883.71
157,200 at 5.42%$884.69
157,200 at 5.43%$885.67
157,200 at 5.44%$886.66
157,200 at 5.45%$887.64
157,200 at 5.46%$888.62
157,200 at 5.47%$889.61
157,200 at 5.48%$890.59
157,200 at 5.49%$891.58
157,200 at 5.5%$892.56
157,200 at 5.51%$893.55
157,200 at 5.52%$894.54
157,200 at 5.53%$895.53
157,200 at 5.54%$896.51
157,200 at 5.55%$897.50
157,200 at 5.56%$898.49
157,200 at 5.57%$899.48
157,200 at 5.58%$900.47
157,200 at 5.59%$901.46
157,200 at 5.6%$902.45
157,200 at 5.61%$903.44
157,200 at 5.62%$904.44
157,200 at 5.63%$905.43
157,200 at 5.64%$906.42
157,200 at 5.65%$907.41
157,200 at 5.66%$908.41
157,200 at 5.67%$909.40
157,200 at 5.68%$910.40
157,200 at 5.69%$911.39
157,200 at 5.7%$912.39
157,200 at 5.71%$913.39
157,200 at 5.72%$914.38
157,200 at 5.73%$915.38
157,200 at 5.74%$916.38
157,200 at 5.75%$917.38
157,200 at 5.76%$918.38
157,200 at 5.77%$919.37
157,200 at 5.78%$920.37
157,200 at 5.79%$921.37
157,200 at 5.8%$922.38
157,200 at 5.81%$923.38
157,200 at 5.82%$924.38
157,200 at 5.83%$925.38
157,200 at 5.84%$926.38
157,200 at 5.85%$927.39
157,200 at 5.86%$928.39
157,200 at 5.87%$929.40
157,200 at 5.88%$930.40
157,200 at 5.89%$931.40
157,200 at 5.9%$932.41
157,200 at 5.91%$933.42
157,200 at 5.92%$934.42
157,200 at 5.93%$935.43
157,200 at 5.94%$936.44
157,200 at 5.95%$937.45
157,200 at 5.96%$938.45
157,200 at 5.97%$939.46
157,200 at 5.98%$940.47
157,200 at 5.99%$941.48
157,200 at 6%$942.49
157,200 at 6.01%$943.50
157,200 at 6.02%$944.52
157,200 at 6.03%$945.53
157,200 at 6.04%$946.54
157,200 at 6.05%$947.55
157,200 at 6.06%$948.57
157,200 at 6.07%$949.58
157,200 at 6.08%$950.59
157,200 at 6.09%$951.61
157,200 at 6.1%$952.62
157,200 at 6.11%$953.64
157,200 at 6.12%$954.66
157,200 at 6.13%$955.67
157,200 at 6.14%$956.69
157,200 at 6.15%$957.71
157,200 at 6.16%$958.72
157,200 at 6.17%$959.74
157,200 at 6.18%$960.76
157,200 at 6.19%$961.78
157,200 at 6.2%$962.80
157,200 at 6.21%$963.82
157,200 at 6.22%$964.84
157,200 at 6.23%$965.86
157,200 at 6.24%$966.89
157,200 at 6.25%$967.91
157,200 at 6.26%$968.93
157,200 at 6.27%$969.95
157,200 at 6.28%$970.98
157,200 at 6.29%$972.00
157,200 at 6.3%$973.03
157,200 at 6.31%$974.05
157,200 at 6.32%$975.08
157,200 at 6.33%$976.10
157,200 at 6.34%$977.13
157,200 at 6.35%$978.15
157,200 at 6.36%$979.18
157,200 at 6.37%$980.21
157,200 at 6.38%$981.24
157,200 at 6.39%$982.27
157,200 at 6.4%$983.30
157,200 at 6.41%$984.32
157,200 at 6.42%$985.35
157,200 at 6.43%$986.39
157,200 at 6.44%$987.42
157,200 at 6.45%$988.45
157,200 at 6.46%$989.48
157,200 at 6.47%$990.51
157,200 at 6.48%$991.54
157,200 at 6.49%$992.58
157,200 at 6.5%$993.61
Interest Rate 30 Year
157,200 at 6.51%$994.64
157,200 at 6.52%$995.68
157,200 at 6.53%$996.71
157,200 at 6.54%$997.75
157,200 at 6.55%$998.79
157,200 at 6.56%$999.82
157,200 at 6.57%$1,000.86
157,200 at 6.58%$1,001.90
157,200 at 6.59%$1,002.93
157,200 at 6.6%$1,003.97
157,200 at 6.61%$1,005.01
157,200 at 6.62%$1,006.05
157,200 at 6.63%$1,007.09
157,200 at 6.64%$1,008.13
157,200 at 6.65%$1,009.17
157,200 at 6.66%$1,010.21
157,200 at 6.67%$1,011.25
157,200 at 6.68%$1,012.29
157,200 at 6.69%$1,013.33
157,200 at 6.7%$1,014.38
157,200 at 6.71%$1,015.42
157,200 at 6.72%$1,016.46
157,200 at 6.73%$1,017.51
157,200 at 6.74%$1,018.55
157,200 at 6.75%$1,019.60
157,200 at 6.76%$1,020.64
157,200 at 6.77%$1,021.69
157,200 at 6.78%$1,022.73
157,200 at 6.79%$1,023.78
157,200 at 6.8%$1,024.83
157,200 at 6.81%$1,025.87
157,200 at 6.82%$1,026.92
157,200 at 6.83%$1,027.97
157,200 at 6.84%$1,029.02
157,200 at 6.85%$1,030.07
157,200 at 6.86%$1,031.12
157,200 at 6.87%$1,032.17
157,200 at 6.88%$1,033.22
157,200 at 6.89%$1,034.27
157,200 at 6.9%$1,035.32
157,200 at 6.91%$1,036.37
157,200 at 6.92%$1,037.42
157,200 at 6.93%$1,038.48
157,200 at 6.94%$1,039.53
157,200 at 6.95%$1,040.58
157,200 at 6.96%$1,041.64
157,200 at 6.97%$1,042.69
157,200 at 6.98%$1,043.74
157,200 at 6.99%$1,044.80
157,200 at 7%$1,045.86
157,200 at 7.01%$1,046.91
157,200 at 7.02%$1,047.97
157,200 at 7.03%$1,049.02
157,200 at 7.04%$1,050.08
157,200 at 7.05%$1,051.14
157,200 at 7.06%$1,052.20
157,200 at 7.07%$1,053.26
157,200 at 7.08%$1,054.32
157,200 at 7.09%$1,055.37
157,200 at 7.1%$1,056.43
157,200 at 7.11%$1,057.49
157,200 at 7.12%$1,058.56
157,200 at 7.13%$1,059.62
157,200 at 7.14%$1,060.68
157,200 at 7.15%$1,061.74
157,200 at 7.16%$1,062.80
157,200 at 7.17%$1,063.86
157,200 at 7.18%$1,064.93
157,200 at 7.19%$1,065.99
157,200 at 7.2%$1,067.06
157,200 at 7.21%$1,068.12
157,200 at 7.22%$1,069.18
157,200 at 7.23%$1,070.25
157,200 at 7.24%$1,071.32
157,200 at 7.25%$1,072.38
157,200 at 7.26%$1,073.45
157,200 at 7.27%$1,074.51
157,200 at 7.28%$1,075.58
157,200 at 7.29%$1,076.65
157,200 at 7.3%$1,077.72
157,200 at 7.31%$1,078.79
157,200 at 7.32%$1,079.85
157,200 at 7.33%$1,080.92
157,200 at 7.34%$1,081.99
157,200 at 7.35%$1,083.06
157,200 at 7.36%$1,084.13
157,200 at 7.37%$1,085.21
157,200 at 7.38%$1,086.28
157,200 at 7.39%$1,087.35
157,200 at 7.4%$1,088.42
157,200 at 7.41%$1,089.49
157,200 at 7.42%$1,090.57
157,200 at 7.43%$1,091.64
157,200 at 7.44%$1,092.71
157,200 at 7.45%$1,093.79
157,200 at 7.46%$1,094.86
157,200 at 7.47%$1,095.94
157,200 at 7.48%$1,097.01
157,200 at 7.49%$1,098.09
157,200 at 7.5%$1,099.17
157,200 at 7.51%$1,100.24
157,200 at 7.52%$1,101.32
157,200 at 7.53%$1,102.40
157,200 at 7.54%$1,103.47
157,200 at 7.55%$1,104.55
157,200 at 7.56%$1,105.63
157,200 at 7.57%$1,106.71
157,200 at 7.58%$1,107.79
157,200 at 7.59%$1,108.87
157,200 at 7.6%$1,109.95
157,200 at 7.61%$1,111.03
157,200 at 7.62%$1,112.11
157,200 at 7.63%$1,113.19
157,200 at 7.64%$1,114.27
157,200 at 7.65%$1,115.36
157,200 at 7.66%$1,116.44
157,200 at 7.67%$1,117.52
157,200 at 7.68%$1,118.61
157,200 at 7.69%$1,119.69
157,200 at 7.7%$1,120.77
157,200 at 7.71%$1,121.86
157,200 at 7.72%$1,122.94
157,200 at 7.73%$1,124.03
157,200 at 7.74%$1,125.11
157,200 at 7.75%$1,126.20
157,200 at 7.76%$1,127.29
157,200 at 7.77%$1,128.37
157,200 at 7.78%$1,129.46
157,200 at 7.79%$1,130.55
157,200 at 7.8%$1,131.64
157,200 at 7.81%$1,132.72
157,200 at 7.82%$1,133.81
157,200 at 7.83%$1,134.90
157,200 at 7.84%$1,135.99
157,200 at 7.85%$1,137.08
157,200 at 7.86%$1,138.17
157,200 at 7.87%$1,139.26
157,200 at 7.88%$1,140.35
157,200 at 7.89%$1,141.45
157,200 at 7.9%$1,142.54
157,200 at 7.91%$1,143.63
157,200 at 7.92%$1,144.72
157,200 at 7.93%$1,145.82
157,200 at 7.94%$1,146.91
157,200 at 7.95%$1,148.00
157,200 at 7.96%$1,149.10
157,200 at 7.97%$1,150.19
157,200 at 7.98%$1,151.29
157,200 at 7.99%$1,152.38
157,200 at 8%$1,153.48
More Amounts
What is the down payment for a $157,200 house? How much do you need to put down?
Percent Down Down Payment
1%1,572
2%3,144
3%4,716
4%6,288
5%7,860
6%9,432
7%11,004
8%12,576
9%14,148
10%15,720
11%17,292
12%18,864
13%20,436
14%22,008
15%23,580
16%25,152
17%26,724
18%28,296
19%29,868
20%31,440
Percent Down Down Payment
21%33,012
22%34,584
23%36,156
24%37,728
25%39,300
26%40,872
27%42,444
28%44,016
29%45,588
30%47,160
31%48,732
32%50,304
33%51,876
34%53,448
35%55,020
36%56,592
37%58,164
38%59,736
39%61,308
40%62,880
Percent Down Down Payment
41%64,452
42%66,024
43%67,596
44%69,168
45%70,740
46%72,312
47%73,884
48%75,456
49%77,028
50%78,600
51%80,172
52%81,744
53%83,316
54%84,888
55%86,460
56%88,032
57%89,604
58%91,176
59%92,748
60%94,320
Percent Down Down Payment
61%95,892
62%97,464
63%99,036
64%100,608
65%102,180
66%103,752
67%105,324
68%106,896
69%108,468
70%110,040
71%111,612
72%113,184
73%114,756
74%116,328
75%117,900
76%119,472
77%121,044
78%122,616
79%124,188
80%125,760
Percent Down Down Payment
81%127,332
82%128,904
83%130,476
84%132,048
85%133,620
86%135,192
87%136,764
88%138,336
89%139,908
90%141,480
91%143,052
92%144,624
93%146,196
94%147,768
95%149,340
96%150,912
97%152,484
98%154,056
99%155,628
100%157,200
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.