Mortgage payment on a $50K house
$332 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $14,200.
On a $50,000 home with $10,000 (20%) down, you borrow $40,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $269 a month. Adding property tax at the U.S. average of 0.9% ($38) and insurance ($25) gives $332. Over 30 years you would pay $56,870 in interest.
Payment by down payment
Putting less than 20% down means a bigger loan and mortgage insurance, so the monthly payment rises:
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $10,000 | $40,000 | $269 | $0 | $63 | $332 | $14,200 |
| 10% down | $5,000 | $45,000 | $303 | $19 | $63 | $384 | $16,500 |
| 5% down | $2,500 | $47,500 | $320 | $20 | $63 | $402 | $17,200 |
| 3.5% down (FHA) | $1,750 | $49,094 | $330 | $22 | $63 | $415 | $17,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.9% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Payment at different interest rates
| Rate | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 5.61% | $230 | $292 | $42,758 |
| 6.11% | $243 | $305 | $47,356 |
| 6.61% | $256 | $318 | $52,062 |
| 7.11% | $269 | $332 | $56,870 |
| 7.61% | $283 | $345 | $61,774 |
| 8.11% | $297 | $359 | $66,768 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $269 | $332 | $56,870 |
| 20 years at 7.11% | $313 | $375 | $35,064 |
| 15 years at 6.45% | $347 | $410 | $22,522 |
A shorter loan costs more each month but saves a lot of interest — and 15-year loans carry a lower rate (6.45% this week).
Mortgage on a $50K house in each state
Property tax changes the payment a lot from state to state (20% down):
| State | Tax rate | Tax / month | Total / month | Income needed |
|---|---|---|---|---|
| Alabama | 0.38% | $16 | $310 | $13,300 |
| Alaska | 1.06% | $44 | $338 | $14,500 |
| Arizona | 0.44% | $18 | $313 | $13,400 |
| Arkansas | 0.5% | $21 | $315 | $13,500 |
| California | 0.72% | $30 | $324 | $13,900 |
| Colorado | 0.52% | $22 | $316 | $13,500 |
| Connecticut | 1.59% | $66 | $360 | $15,400 |
| Delaware | 0.49% | $20 | $314 | $13,500 |
| District of Columbia | 0.67% | $28 | $322 | $13,800 |
| Florida | 0.8% | $33 | $327 | $14,000 |
| Georgia | 0.77% | $32 | $326 | $14,000 |
| Hawaii | 0.26% | $11 | $305 | $13,100 |
| Idaho | 0.42% | $18 | $312 | $13,400 |
| Illinois | 1.92% | $80 | $374 | $16,000 |
| Indiana | 0.74% | $31 | $325 | $13,900 |
| Iowa | 1.27% | $53 | $347 | $14,900 |
| Kansas | 1.24% | $52 | $346 | $14,800 |
| Kentucky | 0.72% | $30 | $324 | $13,900 |
| Louisiana | 0.55% | $23 | $317 | $13,600 |
| Maine | 0.92% | $38 | $332 | $14,200 |
| Maryland | 0.98% | $41 | $335 | $14,400 |
| Massachusetts | 1.01% | $42 | $336 | $14,400 |
| Michigan | 1.17% | $49 | $343 | $14,700 |
| Minnesota | 1.04% | $43 | $337 | $14,500 |
| Mississippi | 0.65% | $27 | $321 | $13,800 |
| Missouri | 0.79% | $33 | $327 | $14,000 |
| Montana | 0.69% | $29 | $323 | $13,800 |
| Nebraska | 1.31% | $55 | $349 | $14,900 |
| Nevada | 0.47% | $20 | $314 | $13,400 |
| New Hampshire | 1.43% | $60 | $354 | $15,200 |
| New Jersey | 1.82% | $76 | $370 | $15,800 |
| New Mexico | 0.63% | $26 | $320 | $13,700 |
| New York | 1.42% | $59 | $353 | $15,100 |
| North Carolina | 0.64% | $26 | $321 | $13,700 |
| North Dakota | 0.92% | $38 | $333 | $14,300 |
| Ohio | 1.22% | $51 | $345 | $14,800 |
| Oklahoma | 0.76% | $32 | $326 | $14,000 |
| Oregon | 0.79% | $33 | $327 | $14,000 |
| Pennsylvania | 1.12% | $47 | $341 | $14,600 |
| Rhode Island | 1.02% | $43 | $337 | $14,400 |
| South Carolina | 0.45% | $19 | $313 | $13,400 |
| South Dakota | 1.04% | $43 | $337 | $14,500 |
| Tennessee | 0.46% | $19 | $313 | $13,400 |
| Texas | 1.32% | $55 | $349 | $15,000 |
| Utah | 0.5% | $21 | $315 | $13,500 |
| Vermont | 1.51% | $63 | $357 | $15,300 |
| Virginia | 0.71% | $30 | $324 | $13,900 |
| Washington | 0.81% | $34 | $328 | $14,100 |
| West Virginia | 0.51% | $21 | $315 | $13,500 |
| Wisconsin | 1.2% | $50 | $344 | $14,800 |
| Wyoming | 0.56% | $23 | $317 | $13,600 |
Other home prices
Frequently asked questions
What is the monthly payment on a $50K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $50,000 house is about $269 for principal and interest, or $332 including average property tax and insurance.
How much income do I need for a $50K house?
Lenders generally want housing costs under 28% of gross income. A $332 monthly payment needs about $14,200 a year, assuming no other large debts.
How much do I need to put down on a $50K house?
20% is $10,000 and avoids PMI. Conventional loans allow as little as 3–5% ($1,500–$2,500) and FHA loans 3.5% ($1,750), but the monthly payment is higher.