For a house that cost 150,000 roughly how much is the payment for that house monthly.?
I am interested in buying a house but I want to know if I can afford the payments. Right now I am renting an apartment for 700 a month.
- Star TLv 71 decade agoFavorite Answer
About 1,100 but it all depends on the property taxes and insurance in your area.
- 1 decade ago
That's going to depend on two things:
1) Your credit score
2) The current mortgage rates from available lenders
Depending on where you live, you can call a lender or even a local bank which does home loans and have them pull your credit and give you an idea of what your rate and monthly payment will be. You will have to give them some personal information (such as SSN, salary, debt), but they are only asking in order to best serve your needs. Explain what exactly you're looking for from the transaction.
Also, keep in mind you will most likely have to put down some money on the house (down payment), as not everyone qualifies for those "no down payment" programs.
- Anonymous5 years ago
In the current mortgage and home loan market your best choice is https://vk.cc/3tWtcn the reason I say this is because things are always changing. After the 2008 real estate meltdown. Mortgage underwriting rules have been changing and they continue to make small changes all the time. It doesn't matter if you're looking for a mortgage with perfect credit and 20% down; or bad credit with low down payment; or even almost no money down type mortgage. Its going to be impossible to answer your question.
My recommendation is grab a quote from my previously mentioned place. You'll be able to see different mortgage programs and rates available to your personal financial profile. New home loan, mortgage refinance, equity lines of credit its all there. No matter the credit or down payment amount. Just let them know what you got and see whats possible from multiple top mortgage providers in the industry today.
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- 1 decade ago
It depends on:
1. Your credit score
2. The type of mortgage (fixed or adjustable)
3. the term (15, 20 or 30 Years)
4. Occupancy (owner occupied or Investment)
5. Type of property
To get an approximate idea the best bet is to use an on line mortgage calculator .
Don't forget that Taxes, insurance and PMI (if any) add to the monthly payment.Source(s): Self
- adam/pennyLv 71 decade ago
you first have to give the correct percentage rate of the loan before that can be figured out. don't know what 30 year mortgage rates are these days and they change constantly.
read any newspaper to see what the rates are today.
whatever you do don't take an adjustable rate mortgage. low today but goes up automatically.
THAT'S what all the hoopla is about today because people aren't able to meet the higher rate demands.
they will tell you you can do it because in the future you will be earning more money and so should be able to make those higher payments. don't fall for it. think it called adjustable rate mortgage ARM.
you need something that won't change as you go along
good luck to ya
- 1 decade ago
Completely depends on how much you plan to put down and what your credit score looks like. Could vary quite drastically.
- 4 years ago
Was curious on the answer to this as well