Mortgage payment on a $70K house
$464 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $19,900.
On a $70,000 home with $14,000 (20%) down, you borrow $56,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $377 a month. Adding property tax at the U.S. average of 0.9% ($53) and insurance ($35) gives $464. Over 30 years you would pay $79,618 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 | $14,000 | $56,000 | $377 | $0 | $88 | $464 | $19,900 |
| 10% down | $7,000 | $63,000 | $424 | $26 | $88 | $538 | $23,000 |
| 5% down | $3,500 | $66,500 | $447 | $28 | $88 | $563 | $24,100 |
| 3.5% down (FHA) | $2,450 | $68,732 | $462 | $31 | $88 | $581 | $24,900 |
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% | $322 | $409 | $59,861 |
| 6.11% | $340 | $427 | $66,299 |
| 6.61% | $358 | $446 | $72,887 |
| 7.11% | $377 | $464 | $79,618 |
| 7.61% | $396 | $483 | $86,483 |
| 8.11% | $415 | $503 | $93,476 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $377 | $464 | $79,618 |
| 20 years at 7.11% | $438 | $525 | $49,089 |
| 15 years at 6.45% | $486 | $574 | $31,531 |
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 $70K 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% | $22 | $434 | $18,600 |
| Alaska | 1.06% | $62 | $473 | $20,300 |
| Arizona | 0.44% | $26 | $438 | $18,800 |
| Arkansas | 0.5% | $29 | $441 | $18,900 |
| California | 0.72% | $42 | $454 | $19,400 |
| Colorado | 0.52% | $30 | $442 | $18,900 |
| Connecticut | 1.59% | $93 | $504 | $21,600 |
| Delaware | 0.49% | $28 | $440 | $18,900 |
| District of Columbia | 0.67% | $39 | $451 | $19,300 |
| Florida | 0.8% | $47 | $458 | $19,600 |
| Georgia | 0.77% | $45 | $457 | $19,600 |
| Hawaii | 0.26% | $15 | $427 | $18,300 |
| Idaho | 0.42% | $25 | $436 | $18,700 |
| Illinois | 1.92% | $112 | $524 | $22,400 |
| Indiana | 0.74% | $43 | $455 | $19,500 |
| Iowa | 1.27% | $74 | $486 | $20,800 |
| Kansas | 1.24% | $73 | $484 | $20,800 |
| Kentucky | 0.72% | $42 | $454 | $19,400 |
| Louisiana | 0.55% | $32 | $444 | $19,000 |
| Maine | 0.92% | $54 | $465 | $19,900 |
| Maryland | 0.98% | $57 | $469 | $20,100 |
| Massachusetts | 1.01% | $59 | $471 | $20,200 |
| Michigan | 1.17% | $68 | $480 | $20,600 |
| Minnesota | 1.04% | $61 | $472 | $20,200 |
| Mississippi | 0.65% | $38 | $449 | $19,300 |
| Missouri | 0.79% | $46 | $458 | $19,600 |
| Montana | 0.69% | $40 | $452 | $19,400 |
| Nebraska | 1.31% | $77 | $488 | $20,900 |
| Nevada | 0.47% | $28 | $439 | $18,800 |
| New Hampshire | 1.43% | $84 | $495 | $21,200 |
| New Jersey | 1.82% | $106 | $518 | $22,200 |
| New Mexico | 0.63% | $37 | $449 | $19,200 |
| New York | 1.42% | $83 | $495 | $21,200 |
| North Carolina | 0.64% | $37 | $449 | $19,200 |
| North Dakota | 0.92% | $54 | $466 | $20,000 |
| Ohio | 1.22% | $71 | $483 | $20,700 |
| Oklahoma | 0.76% | $44 | $456 | $19,500 |
| Oregon | 0.79% | $46 | $458 | $19,600 |
| Pennsylvania | 1.12% | $66 | $477 | $20,500 |
| Rhode Island | 1.02% | $60 | $471 | $20,200 |
| South Carolina | 0.45% | $26 | $438 | $18,800 |
| South Dakota | 1.04% | $60 | $472 | $20,200 |
| Tennessee | 0.46% | $27 | $438 | $18,800 |
| Texas | 1.32% | $77 | $489 | $20,900 |
| Utah | 0.5% | $29 | $441 | $18,900 |
| Vermont | 1.51% | $88 | $500 | $21,400 |
| Virginia | 0.71% | $41 | $453 | $19,400 |
| Washington | 0.81% | $47 | $459 | $19,700 |
| West Virginia | 0.51% | $30 | $442 | $18,900 |
| Wisconsin | 1.2% | $70 | $482 | $20,700 |
| Wyoming | 0.56% | $32 | $444 | $19,000 |
Other home prices
Frequently asked questions
What is the monthly payment on a $70K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $70,000 house is about $377 for principal and interest, or $464 including average property tax and insurance.
How much income do I need for a $70K house?
Lenders generally want housing costs under 28% of gross income. A $464 monthly payment needs about $19,900 a year, assuming no other large debts.
How much do I need to put down on a $70K house?
20% is $14,000 and avoids PMI. Conventional loans allow as little as 3–5% ($2,100–$3,500) and FHA loans 3.5% ($2,450), but the monthly payment is higher.