$157,300 Mortgage for 30 Years

What is the monthly payment of a 157,300 dollar loan?
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Loan Tables for a $157,300 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 $157,300 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
157,300 at 2.01%$582.20
157,300 at 2.02%$582.99
157,300 at 2.03%$583.77
157,300 at 2.04%$584.56
157,300 at 2.05%$585.35
157,300 at 2.06%$586.14
157,300 at 2.07%$586.93
157,300 at 2.08%$587.72
157,300 at 2.09%$588.52
157,300 at 2.1%$589.31
157,300 at 2.11%$590.10
157,300 at 2.12%$590.90
157,300 at 2.13%$591.69
157,300 at 2.14%$592.49
157,300 at 2.15%$593.28
157,300 at 2.16%$594.08
157,300 at 2.17%$594.87
157,300 at 2.18%$595.67
157,300 at 2.19%$596.47
157,300 at 2.2%$597.27
157,300 at 2.21%$598.07
157,300 at 2.22%$598.87
157,300 at 2.23%$599.67
157,300 at 2.24%$600.47
157,300 at 2.25%$601.27
157,300 at 2.26%$602.08
157,300 at 2.27%$602.88
157,300 at 2.28%$603.68
157,300 at 2.29%$604.49
157,300 at 2.3%$605.29
157,300 at 2.31%$606.10
157,300 at 2.32%$606.90
157,300 at 2.33%$607.71
157,300 at 2.34%$608.52
157,300 at 2.35%$609.33
157,300 at 2.36%$610.14
157,300 at 2.37%$610.95
157,300 at 2.38%$611.76
157,300 at 2.39%$612.57
157,300 at 2.4%$613.38
157,300 at 2.41%$614.19
157,300 at 2.42%$615.00
157,300 at 2.43%$615.82
157,300 at 2.44%$616.63
157,300 at 2.45%$617.44
157,300 at 2.46%$618.26
157,300 at 2.47%$619.07
157,300 at 2.48%$619.89
157,300 at 2.49%$620.71
157,300 at 2.5%$621.53
157,300 at 2.51%$622.34
157,300 at 2.52%$623.16
157,300 at 2.53%$623.98
157,300 at 2.54%$624.80
157,300 at 2.55%$625.62
157,300 at 2.56%$626.44
157,300 at 2.57%$627.27
157,300 at 2.58%$628.09
157,300 at 2.59%$628.91
157,300 at 2.6%$629.73
157,300 at 2.61%$630.56
157,300 at 2.62%$631.38
157,300 at 2.63%$632.21
157,300 at 2.64%$633.04
157,300 at 2.65%$633.86
157,300 at 2.66%$634.69
157,300 at 2.67%$635.52
157,300 at 2.68%$636.35
157,300 at 2.69%$637.18
157,300 at 2.7%$638.01
157,300 at 2.71%$638.84
157,300 at 2.72%$639.67
157,300 at 2.73%$640.50
157,300 at 2.74%$641.33
157,300 at 2.75%$642.16
157,300 at 2.76%$643.00
157,300 at 2.77%$643.83
157,300 at 2.78%$644.67
157,300 at 2.79%$645.50
157,300 at 2.8%$646.34
157,300 at 2.81%$647.17
157,300 at 2.82%$648.01
157,300 at 2.83%$648.85
157,300 at 2.84%$649.69
157,300 at 2.85%$650.53
157,300 at 2.86%$651.37
157,300 at 2.87%$652.21
157,300 at 2.88%$653.05
157,300 at 2.89%$653.89
157,300 at 2.9%$654.73
157,300 at 2.91%$655.57
157,300 at 2.92%$656.42
157,300 at 2.93%$657.26
157,300 at 2.94%$658.10
157,300 at 2.95%$658.95
157,300 at 2.96%$659.79
157,300 at 2.97%$660.64
157,300 at 2.98%$661.49
157,300 at 2.99%$662.34
157,300 at 3%$663.18
157,300 at 3.01%$664.03
157,300 at 3.02%$664.88
157,300 at 3.03%$665.73
157,300 at 3.04%$666.58
157,300 at 3.05%$667.43
157,300 at 3.06%$668.28
157,300 at 3.07%$669.14
157,300 at 3.08%$669.99
157,300 at 3.09%$670.84
157,300 at 3.1%$671.70
157,300 at 3.11%$672.55
157,300 at 3.12%$673.41
157,300 at 3.13%$674.26
157,300 at 3.14%$675.12
157,300 at 3.15%$675.98
157,300 at 3.16%$676.83
157,300 at 3.17%$677.69
157,300 at 3.18%$678.55
157,300 at 3.19%$679.41
157,300 at 3.2%$680.27
157,300 at 3.21%$681.13
157,300 at 3.22%$681.99
157,300 at 3.23%$682.85
157,300 at 3.24%$683.72
157,300 at 3.25%$684.58
157,300 at 3.26%$685.44
157,300 at 3.27%$686.31
157,300 at 3.28%$687.17
157,300 at 3.29%$688.04
157,300 at 3.3%$688.90
157,300 at 3.31%$689.77
157,300 at 3.32%$690.64
157,300 at 3.33%$691.51
157,300 at 3.34%$692.37
157,300 at 3.35%$693.24
157,300 at 3.36%$694.11
157,300 at 3.37%$694.98
157,300 at 3.38%$695.85
157,300 at 3.39%$696.72
157,300 at 3.4%$697.60
157,300 at 3.41%$698.47
157,300 at 3.42%$699.34
157,300 at 3.43%$700.22
157,300 at 3.44%$701.09
157,300 at 3.45%$701.96
157,300 at 3.46%$702.84
157,300 at 3.47%$703.72
157,300 at 3.48%$704.59
157,300 at 3.49%$705.47
157,300 at 3.5%$706.35
Interest Rate 30 Year
157,300 at 3.51%$707.23
157,300 at 3.52%$708.10
157,300 at 3.53%$708.98
157,300 at 3.54%$709.86
157,300 at 3.55%$710.74
157,300 at 3.56%$711.63
157,300 at 3.57%$712.51
157,300 at 3.58%$713.39
157,300 at 3.59%$714.27
157,300 at 3.6%$715.16
157,300 at 3.61%$716.04
157,300 at 3.62%$716.93
157,300 at 3.63%$717.81
157,300 at 3.64%$718.70
157,300 at 3.65%$719.58
157,300 at 3.66%$720.47
157,300 at 3.67%$721.36
157,300 at 3.68%$722.25
157,300 at 3.69%$723.14
157,300 at 3.7%$724.03
157,300 at 3.71%$724.92
157,300 at 3.72%$725.81
157,300 at 3.73%$726.70
157,300 at 3.74%$727.59
157,300 at 3.75%$728.48
157,300 at 3.76%$729.37
157,300 at 3.77%$730.27
157,300 at 3.78%$731.16
157,300 at 3.79%$732.06
157,300 at 3.8%$732.95
157,300 at 3.81%$733.85
157,300 at 3.82%$734.74
157,300 at 3.83%$735.64
157,300 at 3.84%$736.54
157,300 at 3.85%$737.44
157,300 at 3.86%$738.33
157,300 at 3.87%$739.23
157,300 at 3.88%$740.13
157,300 at 3.89%$741.03
157,300 at 3.9%$741.93
157,300 at 3.91%$742.84
157,300 at 3.92%$743.74
157,300 at 3.93%$744.64
157,300 at 3.94%$745.54
157,300 at 3.95%$746.45
157,300 at 3.96%$747.35
157,300 at 3.97%$748.26
157,300 at 3.98%$749.16
157,300 at 3.99%$750.07
157,300 at 4%$750.97
157,300 at 4.01%$751.88
157,300 at 4.02%$752.79
157,300 at 4.03%$753.70
157,300 at 4.04%$754.61
157,300 at 4.05%$755.52
157,300 at 4.06%$756.43
157,300 at 4.07%$757.34
157,300 at 4.08%$758.25
157,300 at 4.09%$759.16
157,300 at 4.1%$760.07
157,300 at 4.11%$760.98
157,300 at 4.12%$761.90
157,300 at 4.13%$762.81
157,300 at 4.14%$763.73
157,300 at 4.15%$764.64
157,300 at 4.16%$765.56
157,300 at 4.17%$766.47
157,300 at 4.18%$767.39
157,300 at 4.19%$768.31
157,300 at 4.2%$769.22
157,300 at 4.21%$770.14
157,300 at 4.22%$771.06
157,300 at 4.23%$771.98
157,300 at 4.24%$772.90
157,300 at 4.25%$773.82
157,300 at 4.26%$774.74
157,300 at 4.27%$775.66
157,300 at 4.28%$776.59
157,300 at 4.29%$777.51
157,300 at 4.3%$778.43
157,300 at 4.31%$779.36
157,300 at 4.32%$780.28
157,300 at 4.33%$781.21
157,300 at 4.34%$782.13
157,300 at 4.35%$783.06
157,300 at 4.36%$783.98
157,300 at 4.37%$784.91
157,300 at 4.38%$785.84
157,300 at 4.39%$786.77
157,300 at 4.4%$787.70
157,300 at 4.41%$788.63
157,300 at 4.42%$789.56
157,300 at 4.43%$790.49
157,300 at 4.44%$791.42
157,300 at 4.45%$792.35
157,300 at 4.46%$793.28
157,300 at 4.47%$794.21
157,300 at 4.48%$795.15
157,300 at 4.49%$796.08
157,300 at 4.5%$797.02
157,300 at 4.51%$797.95
157,300 at 4.52%$798.89
157,300 at 4.53%$799.82
157,300 at 4.54%$800.76
157,300 at 4.55%$801.70
157,300 at 4.56%$802.63
157,300 at 4.57%$803.57
157,300 at 4.58%$804.51
157,300 at 4.59%$805.45
157,300 at 4.6%$806.39
157,300 at 4.61%$807.33
157,300 at 4.62%$808.27
157,300 at 4.63%$809.21
157,300 at 4.64%$810.15
157,300 at 4.65%$811.10
157,300 at 4.66%$812.04
157,300 at 4.67%$812.98
157,300 at 4.68%$813.93
157,300 at 4.69%$814.87
157,300 at 4.7%$815.82
157,300 at 4.71%$816.76
157,300 at 4.72%$817.71
157,300 at 4.73%$818.66
157,300 at 4.74%$819.60
157,300 at 4.75%$820.55
157,300 at 4.76%$821.50
157,300 at 4.77%$822.45
157,300 at 4.78%$823.40
157,300 at 4.79%$824.35
157,300 at 4.8%$825.30
157,300 at 4.81%$826.25
157,300 at 4.82%$827.20
157,300 at 4.83%$828.15
157,300 at 4.84%$829.11
157,300 at 4.85%$830.06
157,300 at 4.86%$831.01
157,300 at 4.87%$831.97
157,300 at 4.88%$832.92
157,300 at 4.89%$833.88
157,300 at 4.9%$834.83
157,300 at 4.91%$835.79
157,300 at 4.92%$836.75
157,300 at 4.93%$837.70
157,300 at 4.94%$838.66
157,300 at 4.95%$839.62
157,300 at 4.96%$840.58
157,300 at 4.97%$841.54
157,300 at 4.98%$842.50
157,300 at 4.99%$843.46
157,300 at 5%$844.42
Interest Rate 30 Year
157,300 at 5.01%$845.38
157,300 at 5.02%$846.34
157,300 at 5.03%$847.31
157,300 at 5.04%$848.27
157,300 at 5.05%$849.23
157,300 at 5.06%$850.20
157,300 at 5.07%$851.16
157,300 at 5.08%$852.13
157,300 at 5.09%$853.09
157,300 at 5.1%$854.06
157,300 at 5.11%$855.03
157,300 at 5.12%$855.99
157,300 at 5.13%$856.96
157,300 at 5.14%$857.93
157,300 at 5.15%$858.90
157,300 at 5.16%$859.87
157,300 at 5.17%$860.84
157,300 at 5.18%$861.81
157,300 at 5.19%$862.78
157,300 at 5.2%$863.75
157,300 at 5.21%$864.72
157,300 at 5.22%$865.70
157,300 at 5.23%$866.67
157,300 at 5.24%$867.64
157,300 at 5.25%$868.62
157,300 at 5.26%$869.59
157,300 at 5.27%$870.57
157,300 at 5.28%$871.54
157,300 at 5.29%$872.52
157,300 at 5.3%$873.49
157,300 at 5.31%$874.47
157,300 at 5.32%$875.45
157,300 at 5.33%$876.43
157,300 at 5.34%$877.41
157,300 at 5.35%$878.38
157,300 at 5.36%$879.36
157,300 at 5.37%$880.34
157,300 at 5.38%$881.33
157,300 at 5.39%$882.31
157,300 at 5.4%$883.29
157,300 at 5.41%$884.27
157,300 at 5.42%$885.25
157,300 at 5.43%$886.24
157,300 at 5.44%$887.22
157,300 at 5.45%$888.20
157,300 at 5.46%$889.19
157,300 at 5.47%$890.17
157,300 at 5.48%$891.16
157,300 at 5.49%$892.15
157,300 at 5.5%$893.13
157,300 at 5.51%$894.12
157,300 at 5.52%$895.11
157,300 at 5.53%$896.10
157,300 at 5.54%$897.08
157,300 at 5.55%$898.07
157,300 at 5.56%$899.06
157,300 at 5.57%$900.05
157,300 at 5.58%$901.04
157,300 at 5.59%$902.03
157,300 at 5.6%$903.03
157,300 at 5.61%$904.02
157,300 at 5.62%$905.01
157,300 at 5.63%$906.00
157,300 at 5.64%$907.00
157,300 at 5.65%$907.99
157,300 at 5.66%$908.99
157,300 at 5.67%$909.98
157,300 at 5.68%$910.98
157,300 at 5.69%$911.97
157,300 at 5.7%$912.97
157,300 at 5.71%$913.97
157,300 at 5.72%$914.96
157,300 at 5.73%$915.96
157,300 at 5.74%$916.96
157,300 at 5.75%$917.96
157,300 at 5.76%$918.96
157,300 at 5.77%$919.96
157,300 at 5.78%$920.96
157,300 at 5.79%$921.96
157,300 at 5.8%$922.96
157,300 at 5.81%$923.96
157,300 at 5.82%$924.97
157,300 at 5.83%$925.97
157,300 at 5.84%$926.97
157,300 at 5.85%$927.98
157,300 at 5.86%$928.98
157,300 at 5.87%$929.99
157,300 at 5.88%$930.99
157,300 at 5.89%$932.00
157,300 at 5.9%$933.00
157,300 at 5.91%$934.01
157,300 at 5.92%$935.02
157,300 at 5.93%$936.03
157,300 at 5.94%$937.03
157,300 at 5.95%$938.04
157,300 at 5.96%$939.05
157,300 at 5.97%$940.06
157,300 at 5.98%$941.07
157,300 at 5.99%$942.08
157,300 at 6%$943.09
157,300 at 6.01%$944.10
157,300 at 6.02%$945.12
157,300 at 6.03%$946.13
157,300 at 6.04%$947.14
157,300 at 6.05%$948.16
157,300 at 6.06%$949.17
157,300 at 6.07%$950.18
157,300 at 6.08%$951.20
157,300 at 6.09%$952.21
157,300 at 6.1%$953.23
157,300 at 6.11%$954.25
157,300 at 6.12%$955.26
157,300 at 6.13%$956.28
157,300 at 6.14%$957.30
157,300 at 6.15%$958.32
157,300 at 6.16%$959.33
157,300 at 6.17%$960.35
157,300 at 6.18%$961.37
157,300 at 6.19%$962.39
157,300 at 6.2%$963.41
157,300 at 6.21%$964.43
157,300 at 6.22%$965.46
157,300 at 6.23%$966.48
157,300 at 6.24%$967.50
157,300 at 6.25%$968.52
157,300 at 6.26%$969.55
157,300 at 6.27%$970.57
157,300 at 6.28%$971.59
157,300 at 6.29%$972.62
157,300 at 6.3%$973.64
157,300 at 6.31%$974.67
157,300 at 6.32%$975.70
157,300 at 6.33%$976.72
157,300 at 6.34%$977.75
157,300 at 6.35%$978.78
157,300 at 6.36%$979.80
157,300 at 6.37%$980.83
157,300 at 6.38%$981.86
157,300 at 6.39%$982.89
157,300 at 6.4%$983.92
157,300 at 6.41%$984.95
157,300 at 6.42%$985.98
157,300 at 6.43%$987.01
157,300 at 6.44%$988.04
157,300 at 6.45%$989.08
157,300 at 6.46%$990.11
157,300 at 6.47%$991.14
157,300 at 6.48%$992.17
157,300 at 6.49%$993.21
157,300 at 6.5%$994.24
Interest Rate 30 Year
157,300 at 6.51%$995.28
157,300 at 6.52%$996.31
157,300 at 6.53%$997.35
157,300 at 6.54%$998.38
157,300 at 6.55%$999.42
157,300 at 6.56%$1,000.46
157,300 at 6.57%$1,001.50
157,300 at 6.58%$1,002.53
157,300 at 6.59%$1,003.57
157,300 at 6.6%$1,004.61
157,300 at 6.61%$1,005.65
157,300 at 6.62%$1,006.69
157,300 at 6.63%$1,007.73
157,300 at 6.64%$1,008.77
157,300 at 6.65%$1,009.81
157,300 at 6.66%$1,010.85
157,300 at 6.67%$1,011.89
157,300 at 6.68%$1,012.94
157,300 at 6.69%$1,013.98
157,300 at 6.7%$1,015.02
157,300 at 6.71%$1,016.07
157,300 at 6.72%$1,017.11
157,300 at 6.73%$1,018.15
157,300 at 6.74%$1,019.20
157,300 at 6.75%$1,020.24
157,300 at 6.76%$1,021.29
157,300 at 6.77%$1,022.34
157,300 at 6.78%$1,023.38
157,300 at 6.79%$1,024.43
157,300 at 6.8%$1,025.48
157,300 at 6.81%$1,026.53
157,300 at 6.82%$1,027.57
157,300 at 6.83%$1,028.62
157,300 at 6.84%$1,029.67
157,300 at 6.85%$1,030.72
157,300 at 6.86%$1,031.77
157,300 at 6.87%$1,032.82
157,300 at 6.88%$1,033.87
157,300 at 6.89%$1,034.93
157,300 at 6.9%$1,035.98
157,300 at 6.91%$1,037.03
157,300 at 6.92%$1,038.08
157,300 at 6.93%$1,039.14
157,300 at 6.94%$1,040.19
157,300 at 6.95%$1,041.24
157,300 at 6.96%$1,042.30
157,300 at 6.97%$1,043.35
157,300 at 6.98%$1,044.41
157,300 at 6.99%$1,045.46
157,300 at 7%$1,046.52
157,300 at 7.01%$1,047.58
157,300 at 7.02%$1,048.63
157,300 at 7.03%$1,049.69
157,300 at 7.04%$1,050.75
157,300 at 7.05%$1,051.81
157,300 at 7.06%$1,052.87
157,300 at 7.07%$1,053.93
157,300 at 7.08%$1,054.99
157,300 at 7.09%$1,056.05
157,300 at 7.1%$1,057.11
157,300 at 7.11%$1,058.17
157,300 at 7.12%$1,059.23
157,300 at 7.13%$1,060.29
157,300 at 7.14%$1,061.35
157,300 at 7.15%$1,062.41
157,300 at 7.16%$1,063.48
157,300 at 7.17%$1,064.54
157,300 at 7.18%$1,065.60
157,300 at 7.19%$1,066.67
157,300 at 7.2%$1,067.73
157,300 at 7.21%$1,068.80
157,300 at 7.22%$1,069.86
157,300 at 7.23%$1,070.93
157,300 at 7.24%$1,072.00
157,300 at 7.25%$1,073.06
157,300 at 7.26%$1,074.13
157,300 at 7.27%$1,075.20
157,300 at 7.28%$1,076.27
157,300 at 7.29%$1,077.33
157,300 at 7.3%$1,078.40
157,300 at 7.31%$1,079.47
157,300 at 7.32%$1,080.54
157,300 at 7.33%$1,081.61
157,300 at 7.34%$1,082.68
157,300 at 7.35%$1,083.75
157,300 at 7.36%$1,084.82
157,300 at 7.37%$1,085.90
157,300 at 7.38%$1,086.97
157,300 at 7.39%$1,088.04
157,300 at 7.4%$1,089.11
157,300 at 7.41%$1,090.19
157,300 at 7.42%$1,091.26
157,300 at 7.43%$1,092.33
157,300 at 7.44%$1,093.41
157,300 at 7.45%$1,094.48
157,300 at 7.46%$1,095.56
157,300 at 7.47%$1,096.63
157,300 at 7.48%$1,097.71
157,300 at 7.49%$1,098.79
157,300 at 7.5%$1,099.86
157,300 at 7.51%$1,100.94
157,300 at 7.52%$1,102.02
157,300 at 7.53%$1,103.10
157,300 at 7.54%$1,104.18
157,300 at 7.55%$1,105.26
157,300 at 7.56%$1,106.33
157,300 at 7.57%$1,107.41
157,300 at 7.58%$1,108.49
157,300 at 7.59%$1,109.57
157,300 at 7.6%$1,110.66
157,300 at 7.61%$1,111.74
157,300 at 7.62%$1,112.82
157,300 at 7.63%$1,113.90
157,300 at 7.64%$1,114.98
157,300 at 7.65%$1,116.07
157,300 at 7.66%$1,117.15
157,300 at 7.67%$1,118.23
157,300 at 7.68%$1,119.32
157,300 at 7.69%$1,120.40
157,300 at 7.7%$1,121.49
157,300 at 7.71%$1,122.57
157,300 at 7.72%$1,123.66
157,300 at 7.73%$1,124.74
157,300 at 7.74%$1,125.83
157,300 at 7.75%$1,126.92
157,300 at 7.76%$1,128.00
157,300 at 7.77%$1,129.09
157,300 at 7.78%$1,130.18
157,300 at 7.79%$1,131.27
157,300 at 7.8%$1,132.36
157,300 at 7.81%$1,133.45
157,300 at 7.82%$1,134.53
157,300 at 7.83%$1,135.62
157,300 at 7.84%$1,136.72
157,300 at 7.85%$1,137.81
157,300 at 7.86%$1,138.90
157,300 at 7.87%$1,139.99
157,300 at 7.88%$1,141.08
157,300 at 7.89%$1,142.17
157,300 at 7.9%$1,143.26
157,300 at 7.91%$1,144.36
157,300 at 7.92%$1,145.45
157,300 at 7.93%$1,146.54
157,300 at 7.94%$1,147.64
157,300 at 7.95%$1,148.73
157,300 at 7.96%$1,149.83
157,300 at 7.97%$1,150.92
157,300 at 7.98%$1,152.02
157,300 at 7.99%$1,153.12
157,300 at 8%$1,154.21
More Amounts
What is the down payment for a $157,300 house? How much do you need to put down?
Percent Down Down Payment
1%1,573
2%3,146
3%4,719
4%6,292
5%7,865
6%9,438
7%11,011
8%12,584
9%14,157
10%15,730
11%17,303
12%18,876
13%20,449
14%22,022
15%23,595
16%25,168
17%26,741
18%28,314
19%29,887
20%31,460
Percent Down Down Payment
21%33,033
22%34,606
23%36,179
24%37,752
25%39,325
26%40,898
27%42,471
28%44,044
29%45,617
30%47,190
31%48,763
32%50,336
33%51,909
34%53,482
35%55,055
36%56,628
37%58,201
38%59,774
39%61,347
40%62,920
Percent Down Down Payment
41%64,493
42%66,066
43%67,639
44%69,212
45%70,785
46%72,358
47%73,931
48%75,504
49%77,077
50%78,650
51%80,223
52%81,796
53%83,369
54%84,942
55%86,515
56%88,088
57%89,661
58%91,234
59%92,807
60%94,380
Percent Down Down Payment
61%95,953
62%97,526
63%99,099
64%100,672
65%102,245
66%103,818
67%105,391
68%106,964
69%108,537
70%110,110
71%111,683
72%113,256
73%114,829
74%116,402
75%117,975
76%119,548
77%121,121
78%122,694
79%124,267
80%125,840
Percent Down Down Payment
81%127,413
82%128,986
83%130,559
84%132,132
85%133,705
86%135,278
87%136,851
88%138,424
89%139,997
90%141,570
91%143,143
92%144,716
93%146,289
94%147,862
95%149,435
96%151,008
97%152,581
98%154,154
99%155,727
100%157,300
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.