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What would a house payment be on a home that costs $56,000 and I am putting zero down with the current?

interest rate. I calculate about $290 on the realtor.com page but you have to put a dwn payment there so I used $3000. Is there a simple way to look at a price on a home and get a ballpark figure on the monthly mortgage amount?

Public Comments

1. Fior every $100,000 you borrow, you pay about $100/mo for evey point in interest rate. 100k at 1% would be about $100/mo a rough estimate for a 56k loan would be about $56/mo for evey point in interest rate. If the interest rate is 5%, you'd pay about $56*5=$280/mo.
2. Although your $290 sounds right for P&I, don't forget you will have taxes, homeowners insurance and PMI included in the mortgage payment. Check with the current owners of the house and see how much they pay for taxes and insurance and add it in.