It all depends on your credit and what kind of interest rate you could get, if you get an interest only loan, if you get fixed or variable interest, if you get an ARM or an 80/20.
Assuming you have good credit right now you would qualify for about 5.75 – 6 %
Assuming 30 year fixed
At 5.75% without putting any money down you would be
paying $1,167.15 per month
At 6% without putting any money down you would be paying
$1,199.10 per month
——————————————————————————-
Assuming 15 year fixed mortgage
At 5.75% without putting any money down you would pay
$ 1,660.82 a month
At 6% without putting any money down you would pay
$ 1,687.71 a month
———————————————————————————
If you are not putting any money down you should still have at least $2,000 to pay for inspections, and various other things.
If you are going to put money down the sweet spot is 20% which in this case would be $40,000 which you get you not only the best interest rate, but also drastically reduce your principal.
A good general thing to have in your mond is that every 100k is about $650 a month…it can be as low as $400 if you have great credit/high down or as bad as $900 but avg of $650
Depends on your loan rate, but it will probably be in the range that others mentioned here. Don’t forget to add your taxes and insurance to that number!!!
6 Responses to Around how much would a mortgage payment be for a loan of about 200000?
solo
April 6th, 2010 at 1:57 am
between $1250 and $1400 per month.
Tom C
April 6th, 2010 at 2:09 am
Check out the Yahoo Real Estate link, there’s a mortgage calculator on it. Depends also on the interest rate. I would say no more than $1600 though.
http://realestate.yahoo.com/New_York/Bellerose;_ylc=X3oDMTE5MGRqZDdoBF9TAzI3MTYxNDkEc2VjA2ZwLXRyb3VnaARzbGsDc3Bpcml0LWZpeGVk
Greg S
April 6th, 2010 at 2:47 am
It all depends on your credit and what kind of interest rate you could get, if you get an interest only loan, if you get fixed or variable interest, if you get an ARM or an 80/20.
Assuming you have good credit right now you would qualify for about 5.75 – 6 %
Assuming 30 year fixed
At 5.75% without putting any money down you would be
paying $1,167.15 per month
At 6% without putting any money down you would be paying
$1,199.10 per month
——————————————————————————-
Assuming 15 year fixed mortgage
At 5.75% without putting any money down you would pay
$ 1,660.82 a month
At 6% without putting any money down you would pay
$ 1,687.71 a month
———————————————————————————
If you are not putting any money down you should still have at least $2,000 to pay for inspections, and various other things.
If you are going to put money down the sweet spot is 20% which in this case would be $40,000 which you get you not only the best interest rate, but also drastically reduce your principal.
Good luck.
Pure Genius
April 6th, 2010 at 3:00 am
about 1400 a month, found a cool site with tons of real estate information even a mortgage calulator so you can get a pretty accurate number.. good luck
http://www.timmdelaney.com/
http://www.timmdelaney.com/Nav.aspx/Page=/Calculators/Default.aspx
xanaduloot
April 6th, 2010 at 3:08 am
A good general thing to have in your mond is that every 100k is about $650 a month…it can be as low as $400 if you have great credit/high down or as bad as $900 but avg of $650
SaraB
April 6th, 2010 at 3:40 am
Depends on your loan rate, but it will probably be in the range that others mentioned here. Don’t forget to add your taxes and insurance to that number!!!