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How much would I pay on a $100,000 mortgage?

Repayments, total interest and amortization to borrow with confidence.

If you’re ready to buy a home, you might wonder how to budget for your target home cost. A good way to start is by using our monthly mortgage payment calculator — you can enter in mortgage amounts, interest rates and loan terms to see what you can realistically afford.

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Monthly payments on a $100,000 mortgage by interest rate

At a 4% fixed interest rate, a 30-year $100,000 mortgage may cost you around $477.42 per month, while a 15-year mortgage has a monthly payment of around $739.69.

Your total interest on a $100,000 mortgage

On a 30-year mortgage, a 4% fixed interest rate means paying approximately $71,869.51 in total interest charges, and a 15-year term may cost you around $33,143.83. Reducing your loan term dramatically decreases how much interest you pay over the life of a $100,000 mortgage.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

1 - 4 of 4
Name Product Loan products offered State availability Min. credit score
Morty
(NMLS #1429243)
Morty
Conventional, Jumbo
Not available in: AZ, HI, MA, MO, NV, UT
620
Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
LendingTree
(NMLS #1136)
LendingTree
HELOC, Home Equity loans
Available in all states
620
Connect with vetted lenders quickly through this free online marketplace.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
Freedom Mortgage
(NMLS #2767)
Freedom Mortgage
Conventional, Jumbo, FHA, VA, USDA, Refinance
Available in all states
620
A lender that excels in FHA and VA loans, offering low down payment options to borrowers.
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How much do I need to make to afford a $100,000 house?

Ideally, you don’t want your mortgage payment to exceed 28% to 30% of your monthly household income.

With a 20% down payment (or $20,000) on a 30-year $100,000 mortgage, you’d need to make at least $1,418 in minimum monthly income to afford it. That means your annual household income would have to be around $17,000 to afford a $100,000 home with 20% down.

Just keep in mind that this example doesn’t include other household expenses.

Amortization schedule

When you take out a mortgage, you agree to pay the principal and interest over the life of the loan. Your interest rate is applied to your balance, and as you pay down your balance, the amount you pay in interest changes.

Amortization means that at the beginning of your loan, a big percentage of your payment is applied to interest. With each subsequent payment, you pay more toward your balance.

Estimate your monthly loan repayments on a $100,000 mortgage at 4% fixed interest with our amortization schedule over 15 and 30 years.

YearBeginning balanceMonthly paymentTotal interest paidTotal principal paidTotal payed throught the yearRemaining balance
1$100,000.00$477.42$3,967.95$1,761.09$5,729.04$98,238.96
2$98,238.96$477.42$3,896.19$1,832.85$5,729.04‬$96,406.18
3$96,406.18$477.42$3,821.53$1,907.51$5,729.04‬$94,498.73
4$94,498.73$477.42$3,743.82$1,985.22$5,729.04‬$92,513.56
5$92,513.56$477.42$3,662.94$2,066.10$5,729.04‬$90,447.51
6$90,447.51$477.42$3,578.77$2,150.27$5,729.04‬$88,297.29
7$88,297.29$477.42$3,491.15$2,237.89$5,729.04‬$86,059.47
8$86,059.47$477.42$3,399.97$2,329.07$5,729.04‬$83,730.48
9$83,730.48$477.42$3,305.09$2,423.95$5,729.04‬$81,306.59
10$81,306.59$477.42$3,206.35$2,522.69$5,729.04‬$78,783.96
11$78,783.96$477.42$3,103.56$2,625.48$5,729.04‬$76,158.55
12$76,158.55$477.42$2,996.62$2,732.42$5,729.04‬$73,426.17
13$73,426.17$477.42$2,885.29$2,843.75$5,729.04‬$70,582.48
14$70,582.48$477.42$2,769.43$2,959.61$5,729.04‬$67,622.93
15$67,622.93$477.42$2,648.85$3,080.19$5,729.04‬$64,542.80
16$64,542.80$477.42$2,523.36$3,205.68$5,729.04‬$61,337.18
17$61,337.18$477.42$2,392.76$3,336.28$5,729.04‬$58,000.96
18$58,000.96$477.42$2,256.84$3,472.20$5,729.04‬$54,528.82
19$54,528.82$477.42$2,115.38$3,613.66$5,729.04‬$50,915.22
20$50,915.22$477.42$1,968.16$3,760.88$5,729.04‬$47,154.39
21$47,154.39$477.42$1,814.93$3,914.11$5,729.04‬$43,240.34
22$43,240.34$477.42$1,655.46$4,073.58$5,729.04‬$39,166.83
23$39,166.83$477.42$1,489.52$4,239.52$5,729.04‬$34,927.36
24$34,927.36$477.42$1,316.79$4,412.25$5,729.04‬$30,515.16
25$30,515.16$477.42$1,137.01$4,592.03$5,729.04‬$25,923.21
26$25,923.21$477.42$949.95$4,779.09$5,729.04‬$21,144.17
27$21,144.17$477.42$755.23$4,973.81$5,729.04‬$16,170.42
28$16,170.42$477.42$552.61$5,176.43$5,729.04‬$10,994.04
29$10,994.04$477.42$341.70$5,387.34$5,729.04‬$5,606.76
30$5,606.76$477.42$122.23$5,606.81$5,729.04‬$0.00
YearBeginning balanceMonthly paymentTotal interest paidTotal principal paidTotal payed throught the yearRemaining balance
1$100,000.00$739.69$3,909.61$4,966.67$8,876.28‬$95,033.35
2$95,033.35$739.69$3,707.25$5,169.03$8,876.28‬$89,864.34
3$89,864.34$739.69$3,496.65$5,379.63$8,876.28‬$84,484.75
4$84,484.75$739.69$3,277.51$5,598.77$8,876.28‬$78,885.98
5$78,885.98$739.69$3,049.37$5,826.91$8,876.28‬$73,059.11
6$73,059.11$739.69$2,811.99$6,064.29$8,876.28‬$66,994.84
7$66,994.84$739.69$2,564.92$6,311.36$8,876.28‬$60,683.50
8$60,683.50$739.69$2,307.79$6,568.49$8,876.28‬$54,115.03
9$54,115.03$739.69$2,040.17$6,836.11$8,876.28‬$47,278.96
10$47,278.96$739.69$1,761.68$7,114.60$8,876.28‬$40,164.37
11$40,164.37$8,876.28‬$1,471.79$7,404.49$8,876.28‬$32,759.92
12$32,759.92$739.69$1,170.13$7,706.15$8,876.28‬$25,053.80
13$25,053.80$739.69$856.18$8,020.10$8,876.28‬$17,033.72
14$17,033.72$739.69$529.43$8,346.85$8,876.28‬$8,686.89
15$8,686.89$739.69$189.38$8,686.90$8,876.28‬$0.00

Bottom line

Purchasing a home is a big decision – both personally and financially. When you find a $100,000 property you like, make sure you can afford it by taking the down payment, mortgage insurance and monthly repayments into account.

Learn more about how home loans work in our comprehensive guide to mortgages.

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