If you buy a house how much..........???

Question

interest are you actually gonna pay on it if it was say around $150,000???? thanks (fairly good credit)

Answer 1

Going rate is 6.5% (according to bankrate.com).  Maybe that or a little higher if the credit is just fairly good (as compared to good).

Answer 2

Love the avatar.

I'd love to take a stab at this, but there are so many factors to consider.  Down payment, interest rate, how long of a loan you are gonig to take out, if you can pay extra every month, etc., etc..  The lenders tell me it is good to figure with all things being equal and a great interest rate that you are going to pay about 175% of purchase price in interest.

So, say you are going to buy a property for $150,000, expect to pay $262,500 in interest.

Answer 3

A lot more than you'd think, unfortunately :(

I got my house for 250k.  At the end of my 30 years, I will have paid $815,000.00.  Nearly double :( So discouraging.

There are lots of factors involved (interest rate, down payment, credit, etc)

Answer 4

Ok, I'm not sure if this helps but I bought a house in Bel Air, Southern California. I bought it for $2,345,000. The interest was $350,000.