$157,400 Mortgage for 30 Years

What is the monthly payment of a 157,400 dollar loan?
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Loan Tables for a $157,400 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 $157,400 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
157,400 at 2.01%$582.57
157,400 at 2.02%$583.36
157,400 at 2.03%$584.15
157,400 at 2.04%$584.93
157,400 at 2.05%$585.72
157,400 at 2.06%$586.52
157,400 at 2.07%$587.31
157,400 at 2.08%$588.10
157,400 at 2.09%$588.89
157,400 at 2.1%$589.68
157,400 at 2.11%$590.48
157,400 at 2.12%$591.27
157,400 at 2.13%$592.07
157,400 at 2.14%$592.86
157,400 at 2.15%$593.66
157,400 at 2.16%$594.46
157,400 at 2.17%$595.25
157,400 at 2.18%$596.05
157,400 at 2.19%$596.85
157,400 at 2.2%$597.65
157,400 at 2.21%$598.45
157,400 at 2.22%$599.25
157,400 at 2.23%$600.05
157,400 at 2.24%$600.85
157,400 at 2.25%$601.66
157,400 at 2.26%$602.46
157,400 at 2.27%$603.26
157,400 at 2.28%$604.07
157,400 at 2.29%$604.87
157,400 at 2.3%$605.68
157,400 at 2.31%$606.48
157,400 at 2.32%$607.29
157,400 at 2.33%$608.10
157,400 at 2.34%$608.91
157,400 at 2.35%$609.71
157,400 at 2.36%$610.52
157,400 at 2.37%$611.33
157,400 at 2.38%$612.14
157,400 at 2.39%$612.96
157,400 at 2.4%$613.77
157,400 at 2.41%$614.58
157,400 at 2.42%$615.39
157,400 at 2.43%$616.21
157,400 at 2.44%$617.02
157,400 at 2.45%$617.84
157,400 at 2.46%$618.65
157,400 at 2.47%$619.47
157,400 at 2.48%$620.28
157,400 at 2.49%$621.10
157,400 at 2.5%$621.92
157,400 at 2.51%$622.74
157,400 at 2.52%$623.56
157,400 at 2.53%$624.38
157,400 at 2.54%$625.20
157,400 at 2.55%$626.02
157,400 at 2.56%$626.84
157,400 at 2.57%$627.66
157,400 at 2.58%$628.49
157,400 at 2.59%$629.31
157,400 at 2.6%$630.13
157,400 at 2.61%$630.96
157,400 at 2.62%$631.78
157,400 at 2.63%$632.61
157,400 at 2.64%$633.44
157,400 at 2.65%$634.27
157,400 at 2.66%$635.09
157,400 at 2.67%$635.92
157,400 at 2.68%$636.75
157,400 at 2.69%$637.58
157,400 at 2.7%$638.41
157,400 at 2.71%$639.24
157,400 at 2.72%$640.07
157,400 at 2.73%$640.91
157,400 at 2.74%$641.74
157,400 at 2.75%$642.57
157,400 at 2.76%$643.41
157,400 at 2.77%$644.24
157,400 at 2.78%$645.08
157,400 at 2.79%$645.91
157,400 at 2.8%$646.75
157,400 at 2.81%$647.58
157,400 at 2.82%$648.42
157,400 at 2.83%$649.26
157,400 at 2.84%$650.10
157,400 at 2.85%$650.94
157,400 at 2.86%$651.78
157,400 at 2.87%$652.62
157,400 at 2.88%$653.46
157,400 at 2.89%$654.30
157,400 at 2.9%$655.15
157,400 at 2.91%$655.99
157,400 at 2.92%$656.83
157,400 at 2.93%$657.68
157,400 at 2.94%$658.52
157,400 at 2.95%$659.37
157,400 at 2.96%$660.21
157,400 at 2.97%$661.06
157,400 at 2.98%$661.91
157,400 at 2.99%$662.76
157,400 at 3%$663.60
157,400 at 3.01%$664.45
157,400 at 3.02%$665.30
157,400 at 3.03%$666.15
157,400 at 3.04%$667.01
157,400 at 3.05%$667.86
157,400 at 3.06%$668.71
157,400 at 3.07%$669.56
157,400 at 3.08%$670.42
157,400 at 3.09%$671.27
157,400 at 3.1%$672.12
157,400 at 3.11%$672.98
157,400 at 3.12%$673.83
157,400 at 3.13%$674.69
157,400 at 3.14%$675.55
157,400 at 3.15%$676.41
157,400 at 3.16%$677.26
157,400 at 3.17%$678.12
157,400 at 3.18%$678.98
157,400 at 3.19%$679.84
157,400 at 3.2%$680.70
157,400 at 3.21%$681.56
157,400 at 3.22%$682.43
157,400 at 3.23%$683.29
157,400 at 3.24%$684.15
157,400 at 3.25%$685.01
157,400 at 3.26%$685.88
157,400 at 3.27%$686.74
157,400 at 3.28%$687.61
157,400 at 3.29%$688.47
157,400 at 3.3%$689.34
157,400 at 3.31%$690.21
157,400 at 3.32%$691.08
157,400 at 3.33%$691.94
157,400 at 3.34%$692.81
157,400 at 3.35%$693.68
157,400 at 3.36%$694.55
157,400 at 3.37%$695.42
157,400 at 3.38%$696.30
157,400 at 3.39%$697.17
157,400 at 3.4%$698.04
157,400 at 3.41%$698.91
157,400 at 3.42%$699.79
157,400 at 3.43%$700.66
157,400 at 3.44%$701.54
157,400 at 3.45%$702.41
157,400 at 3.46%$703.29
157,400 at 3.47%$704.16
157,400 at 3.48%$705.04
157,400 at 3.49%$705.92
157,400 at 3.5%$706.80
Interest Rate 30 Year
157,400 at 3.51%$707.68
157,400 at 3.52%$708.55
157,400 at 3.53%$709.43
157,400 at 3.54%$710.32
157,400 at 3.55%$711.20
157,400 at 3.56%$712.08
157,400 at 3.57%$712.96
157,400 at 3.58%$713.84
157,400 at 3.59%$714.73
157,400 at 3.6%$715.61
157,400 at 3.61%$716.50
157,400 at 3.62%$717.38
157,400 at 3.63%$718.27
157,400 at 3.64%$719.15
157,400 at 3.65%$720.04
157,400 at 3.66%$720.93
157,400 at 3.67%$721.82
157,400 at 3.68%$722.71
157,400 at 3.69%$723.60
157,400 at 3.7%$724.49
157,400 at 3.71%$725.38
157,400 at 3.72%$726.27
157,400 at 3.73%$727.16
157,400 at 3.74%$728.05
157,400 at 3.75%$728.94
157,400 at 3.76%$729.84
157,400 at 3.77%$730.73
157,400 at 3.78%$731.63
157,400 at 3.79%$732.52
157,400 at 3.8%$733.42
157,400 at 3.81%$734.31
157,400 at 3.82%$735.21
157,400 at 3.83%$736.11
157,400 at 3.84%$737.01
157,400 at 3.85%$737.90
157,400 at 3.86%$738.80
157,400 at 3.87%$739.70
157,400 at 3.88%$740.60
157,400 at 3.89%$741.50
157,400 at 3.9%$742.41
157,400 at 3.91%$743.31
157,400 at 3.92%$744.21
157,400 at 3.93%$745.11
157,400 at 3.94%$746.02
157,400 at 3.95%$746.92
157,400 at 3.96%$747.83
157,400 at 3.97%$748.73
157,400 at 3.98%$749.64
157,400 at 3.99%$750.54
157,400 at 4%$751.45
157,400 at 4.01%$752.36
157,400 at 4.02%$753.27
157,400 at 4.03%$754.18
157,400 at 4.04%$755.09
157,400 at 4.05%$756.00
157,400 at 4.06%$756.91
157,400 at 4.07%$757.82
157,400 at 4.08%$758.73
157,400 at 4.09%$759.64
157,400 at 4.1%$760.55
157,400 at 4.11%$761.47
157,400 at 4.12%$762.38
157,400 at 4.13%$763.30
157,400 at 4.14%$764.21
157,400 at 4.15%$765.13
157,400 at 4.16%$766.04
157,400 at 4.17%$766.96
157,400 at 4.18%$767.88
157,400 at 4.19%$768.79
157,400 at 4.2%$769.71
157,400 at 4.21%$770.63
157,400 at 4.22%$771.55
157,400 at 4.23%$772.47
157,400 at 4.24%$773.39
157,400 at 4.25%$774.31
157,400 at 4.26%$775.24
157,400 at 4.27%$776.16
157,400 at 4.28%$777.08
157,400 at 4.29%$778.00
157,400 at 4.3%$778.93
157,400 at 4.31%$779.85
157,400 at 4.32%$780.78
157,400 at 4.33%$781.70
157,400 at 4.34%$782.63
157,400 at 4.35%$783.56
157,400 at 4.36%$784.48
157,400 at 4.37%$785.41
157,400 at 4.38%$786.34
157,400 at 4.39%$787.27
157,400 at 4.4%$788.20
157,400 at 4.41%$789.13
157,400 at 4.42%$790.06
157,400 at 4.43%$790.99
157,400 at 4.44%$791.92
157,400 at 4.45%$792.85
157,400 at 4.46%$793.79
157,400 at 4.47%$794.72
157,400 at 4.48%$795.65
157,400 at 4.49%$796.59
157,400 at 4.5%$797.52
157,400 at 4.51%$798.46
157,400 at 4.52%$799.39
157,400 at 4.53%$800.33
157,400 at 4.54%$801.27
157,400 at 4.55%$802.21
157,400 at 4.56%$803.14
157,400 at 4.57%$804.08
157,400 at 4.58%$805.02
157,400 at 4.59%$805.96
157,400 at 4.6%$806.90
157,400 at 4.61%$807.84
157,400 at 4.62%$808.78
157,400 at 4.63%$809.73
157,400 at 4.64%$810.67
157,400 at 4.65%$811.61
157,400 at 4.66%$812.56
157,400 at 4.67%$813.50
157,400 at 4.68%$814.44
157,400 at 4.69%$815.39
157,400 at 4.7%$816.34
157,400 at 4.71%$817.28
157,400 at 4.72%$818.23
157,400 at 4.73%$819.18
157,400 at 4.74%$820.12
157,400 at 4.75%$821.07
157,400 at 4.76%$822.02
157,400 at 4.77%$822.97
157,400 at 4.78%$823.92
157,400 at 4.79%$824.87
157,400 at 4.8%$825.82
157,400 at 4.81%$826.77
157,400 at 4.82%$827.73
157,400 at 4.83%$828.68
157,400 at 4.84%$829.63
157,400 at 4.85%$830.59
157,400 at 4.86%$831.54
157,400 at 4.87%$832.50
157,400 at 4.88%$833.45
157,400 at 4.89%$834.41
157,400 at 4.9%$835.36
157,400 at 4.91%$836.32
157,400 at 4.92%$837.28
157,400 at 4.93%$838.24
157,400 at 4.94%$839.19
157,400 at 4.95%$840.15
157,400 at 4.96%$841.11
157,400 at 4.97%$842.07
157,400 at 4.98%$843.03
157,400 at 4.99%$844.00
157,400 at 5%$844.96
Interest Rate 30 Year
157,400 at 5.01%$845.92
157,400 at 5.02%$846.88
157,400 at 5.03%$847.85
157,400 at 5.04%$848.81
157,400 at 5.05%$849.77
157,400 at 5.06%$850.74
157,400 at 5.07%$851.70
157,400 at 5.08%$852.67
157,400 at 5.09%$853.64
157,400 at 5.1%$854.60
157,400 at 5.11%$855.57
157,400 at 5.12%$856.54
157,400 at 5.13%$857.51
157,400 at 5.14%$858.48
157,400 at 5.15%$859.45
157,400 at 5.16%$860.42
157,400 at 5.17%$861.39
157,400 at 5.18%$862.36
157,400 at 5.19%$863.33
157,400 at 5.2%$864.30
157,400 at 5.21%$865.27
157,400 at 5.22%$866.25
157,400 at 5.23%$867.22
157,400 at 5.24%$868.19
157,400 at 5.25%$869.17
157,400 at 5.26%$870.14
157,400 at 5.27%$871.12
157,400 at 5.28%$872.10
157,400 at 5.29%$873.07
157,400 at 5.3%$874.05
157,400 at 5.31%$875.03
157,400 at 5.32%$876.01
157,400 at 5.33%$876.98
157,400 at 5.34%$877.96
157,400 at 5.35%$878.94
157,400 at 5.36%$879.92
157,400 at 5.37%$880.90
157,400 at 5.38%$881.89
157,400 at 5.39%$882.87
157,400 at 5.4%$883.85
157,400 at 5.41%$884.83
157,400 at 5.42%$885.82
157,400 at 5.43%$886.80
157,400 at 5.44%$887.78
157,400 at 5.45%$888.77
157,400 at 5.46%$889.75
157,400 at 5.47%$890.74
157,400 at 5.48%$891.73
157,400 at 5.49%$892.71
157,400 at 5.5%$893.70
157,400 at 5.51%$894.69
157,400 at 5.52%$895.68
157,400 at 5.53%$896.66
157,400 at 5.54%$897.65
157,400 at 5.55%$898.64
157,400 at 5.56%$899.63
157,400 at 5.57%$900.62
157,400 at 5.58%$901.62
157,400 at 5.59%$902.61
157,400 at 5.6%$903.60
157,400 at 5.61%$904.59
157,400 at 5.62%$905.59
157,400 at 5.63%$906.58
157,400 at 5.64%$907.57
157,400 at 5.65%$908.57
157,400 at 5.66%$909.56
157,400 at 5.67%$910.56
157,400 at 5.68%$911.56
157,400 at 5.69%$912.55
157,400 at 5.7%$913.55
157,400 at 5.71%$914.55
157,400 at 5.72%$915.55
157,400 at 5.73%$916.54
157,400 at 5.74%$917.54
157,400 at 5.75%$918.54
157,400 at 5.76%$919.54
157,400 at 5.77%$920.54
157,400 at 5.78%$921.55
157,400 at 5.79%$922.55
157,400 at 5.8%$923.55
157,400 at 5.81%$924.55
157,400 at 5.82%$925.55
157,400 at 5.83%$926.56
157,400 at 5.84%$927.56
157,400 at 5.85%$928.57
157,400 at 5.86%$929.57
157,400 at 5.87%$930.58
157,400 at 5.88%$931.58
157,400 at 5.89%$932.59
157,400 at 5.9%$933.60
157,400 at 5.91%$934.60
157,400 at 5.92%$935.61
157,400 at 5.93%$936.62
157,400 at 5.94%$937.63
157,400 at 5.95%$938.64
157,400 at 5.96%$939.65
157,400 at 5.97%$940.66
157,400 at 5.98%$941.67
157,400 at 5.99%$942.68
157,400 at 6%$943.69
157,400 at 6.01%$944.70
157,400 at 6.02%$945.72
157,400 at 6.03%$946.73
157,400 at 6.04%$947.74
157,400 at 6.05%$948.76
157,400 at 6.06%$949.77
157,400 at 6.07%$950.79
157,400 at 6.08%$951.80
157,400 at 6.09%$952.82
157,400 at 6.1%$953.84
157,400 at 6.11%$954.85
157,400 at 6.12%$955.87
157,400 at 6.13%$956.89
157,400 at 6.14%$957.91
157,400 at 6.15%$958.93
157,400 at 6.16%$959.94
157,400 at 6.17%$960.96
157,400 at 6.18%$961.98
157,400 at 6.19%$963.01
157,400 at 6.2%$964.03
157,400 at 6.21%$965.05
157,400 at 6.22%$966.07
157,400 at 6.23%$967.09
157,400 at 6.24%$968.12
157,400 at 6.25%$969.14
157,400 at 6.26%$970.16
157,400 at 6.27%$971.19
157,400 at 6.28%$972.21
157,400 at 6.29%$973.24
157,400 at 6.3%$974.26
157,400 at 6.31%$975.29
157,400 at 6.32%$976.32
157,400 at 6.33%$977.34
157,400 at 6.34%$978.37
157,400 at 6.35%$979.40
157,400 at 6.36%$980.43
157,400 at 6.37%$981.46
157,400 at 6.38%$982.49
157,400 at 6.39%$983.52
157,400 at 6.4%$984.55
157,400 at 6.41%$985.58
157,400 at 6.42%$986.61
157,400 at 6.43%$987.64
157,400 at 6.44%$988.67
157,400 at 6.45%$989.71
157,400 at 6.46%$990.74
157,400 at 6.47%$991.77
157,400 at 6.48%$992.81
157,400 at 6.49%$993.84
157,400 at 6.5%$994.88
Interest Rate 30 Year
157,400 at 6.51%$995.91
157,400 at 6.52%$996.95
157,400 at 6.53%$997.98
157,400 at 6.54%$999.02
157,400 at 6.55%$1,000.06
157,400 at 6.56%$1,001.09
157,400 at 6.57%$1,002.13
157,400 at 6.58%$1,003.17
157,400 at 6.59%$1,004.21
157,400 at 6.6%$1,005.25
157,400 at 6.61%$1,006.29
157,400 at 6.62%$1,007.33
157,400 at 6.63%$1,008.37
157,400 at 6.64%$1,009.41
157,400 at 6.65%$1,010.45
157,400 at 6.66%$1,011.49
157,400 at 6.67%$1,012.54
157,400 at 6.68%$1,013.58
157,400 at 6.69%$1,014.62
157,400 at 6.7%$1,015.67
157,400 at 6.71%$1,016.71
157,400 at 6.72%$1,017.76
157,400 at 6.73%$1,018.80
157,400 at 6.74%$1,019.85
157,400 at 6.75%$1,020.89
157,400 at 6.76%$1,021.94
157,400 at 6.77%$1,022.99
157,400 at 6.78%$1,024.03
157,400 at 6.79%$1,025.08
157,400 at 6.8%$1,026.13
157,400 at 6.81%$1,027.18
157,400 at 6.82%$1,028.23
157,400 at 6.83%$1,029.28
157,400 at 6.84%$1,030.33
157,400 at 6.85%$1,031.38
157,400 at 6.86%$1,032.43
157,400 at 6.87%$1,033.48
157,400 at 6.88%$1,034.53
157,400 at 6.89%$1,035.58
157,400 at 6.9%$1,036.64
157,400 at 6.91%$1,037.69
157,400 at 6.92%$1,038.74
157,400 at 6.93%$1,039.80
157,400 at 6.94%$1,040.85
157,400 at 6.95%$1,041.91
157,400 at 6.96%$1,042.96
157,400 at 6.97%$1,044.02
157,400 at 6.98%$1,045.07
157,400 at 6.99%$1,046.13
157,400 at 7%$1,047.19
157,400 at 7.01%$1,048.24
157,400 at 7.02%$1,049.30
157,400 at 7.03%$1,050.36
157,400 at 7.04%$1,051.42
157,400 at 7.05%$1,052.48
157,400 at 7.06%$1,053.54
157,400 at 7.07%$1,054.60
157,400 at 7.08%$1,055.66
157,400 at 7.09%$1,056.72
157,400 at 7.1%$1,057.78
157,400 at 7.11%$1,058.84
157,400 at 7.12%$1,059.90
157,400 at 7.13%$1,060.96
157,400 at 7.14%$1,062.03
157,400 at 7.15%$1,063.09
157,400 at 7.16%$1,064.15
157,400 at 7.17%$1,065.22
157,400 at 7.18%$1,066.28
157,400 at 7.19%$1,067.35
157,400 at 7.2%$1,068.41
157,400 at 7.21%$1,069.48
157,400 at 7.22%$1,070.54
157,400 at 7.23%$1,071.61
157,400 at 7.24%$1,072.68
157,400 at 7.25%$1,073.75
157,400 at 7.26%$1,074.81
157,400 at 7.27%$1,075.88
157,400 at 7.28%$1,076.95
157,400 at 7.29%$1,078.02
157,400 at 7.3%$1,079.09
157,400 at 7.31%$1,080.16
157,400 at 7.32%$1,081.23
157,400 at 7.33%$1,082.30
157,400 at 7.34%$1,083.37
157,400 at 7.35%$1,084.44
157,400 at 7.36%$1,085.51
157,400 at 7.37%$1,086.59
157,400 at 7.38%$1,087.66
157,400 at 7.39%$1,088.73
157,400 at 7.4%$1,089.81
157,400 at 7.41%$1,090.88
157,400 at 7.42%$1,091.95
157,400 at 7.43%$1,093.03
157,400 at 7.44%$1,094.10
157,400 at 7.45%$1,095.18
157,400 at 7.46%$1,096.26
157,400 at 7.47%$1,097.33
157,400 at 7.48%$1,098.41
157,400 at 7.49%$1,099.49
157,400 at 7.5%$1,100.56
157,400 at 7.51%$1,101.64
157,400 at 7.52%$1,102.72
157,400 at 7.53%$1,103.80
157,400 at 7.54%$1,104.88
157,400 at 7.55%$1,105.96
157,400 at 7.56%$1,107.04
157,400 at 7.57%$1,108.12
157,400 at 7.58%$1,109.20
157,400 at 7.59%$1,110.28
157,400 at 7.6%$1,111.36
157,400 at 7.61%$1,112.44
157,400 at 7.62%$1,113.53
157,400 at 7.63%$1,114.61
157,400 at 7.64%$1,115.69
157,400 at 7.65%$1,116.78
157,400 at 7.66%$1,117.86
157,400 at 7.67%$1,118.94
157,400 at 7.68%$1,120.03
157,400 at 7.69%$1,121.11
157,400 at 7.7%$1,122.20
157,400 at 7.71%$1,123.29
157,400 at 7.72%$1,124.37
157,400 at 7.73%$1,125.46
157,400 at 7.74%$1,126.55
157,400 at 7.75%$1,127.63
157,400 at 7.76%$1,128.72
157,400 at 7.77%$1,129.81
157,400 at 7.78%$1,130.90
157,400 at 7.79%$1,131.99
157,400 at 7.8%$1,133.08
157,400 at 7.81%$1,134.17
157,400 at 7.82%$1,135.26
157,400 at 7.83%$1,136.35
157,400 at 7.84%$1,137.44
157,400 at 7.85%$1,138.53
157,400 at 7.86%$1,139.62
157,400 at 7.87%$1,140.71
157,400 at 7.88%$1,141.81
157,400 at 7.89%$1,142.90
157,400 at 7.9%$1,143.99
157,400 at 7.91%$1,145.09
157,400 at 7.92%$1,146.18
157,400 at 7.93%$1,147.27
157,400 at 7.94%$1,148.37
157,400 at 7.95%$1,149.46
157,400 at 7.96%$1,150.56
157,400 at 7.97%$1,151.66
157,400 at 7.98%$1,152.75
157,400 at 7.99%$1,153.85
157,400 at 8%$1,154.95
More Amounts
What is the down payment for a $157,400 house? How much do you need to put down?
Percent Down Down Payment
1%1,574
2%3,148
3%4,722
4%6,296
5%7,870
6%9,444
7%11,018
8%12,592
9%14,166
10%15,740
11%17,314
12%18,888
13%20,462
14%22,036
15%23,610
16%25,184
17%26,758
18%28,332
19%29,906
20%31,480
Percent Down Down Payment
21%33,054
22%34,628
23%36,202
24%37,776
25%39,350
26%40,924
27%42,498
28%44,072
29%45,646
30%47,220
31%48,794
32%50,368
33%51,942
34%53,516
35%55,090
36%56,664
37%58,238
38%59,812
39%61,386
40%62,960
Percent Down Down Payment
41%64,534
42%66,108
43%67,682
44%69,256
45%70,830
46%72,404
47%73,978
48%75,552
49%77,126
50%78,700
51%80,274
52%81,848
53%83,422
54%84,996
55%86,570
56%88,144
57%89,718
58%91,292
59%92,866
60%94,440
Percent Down Down Payment
61%96,014
62%97,588
63%99,162
64%100,736
65%102,310
66%103,884
67%105,458
68%107,032
69%108,606
70%110,180
71%111,754
72%113,328
73%114,902
74%116,476
75%118,050
76%119,624
77%121,198
78%122,772
79%124,346
80%125,920
Percent Down Down Payment
81%127,494
82%129,068
83%130,642
84%132,216
85%133,790
86%135,364
87%136,938
88%138,512
89%140,086
90%141,660
91%143,234
92%144,808
93%146,382
94%147,956
95%149,530
96%151,104
97%152,678
98%154,252
99%155,826
100%157,400
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.