Monthly Payment on a $100K Mortgage in Pennsylvania
Using Pennsylvania's 1.36% property tax rate and $1,400/yr homeowners insurance.
$100K Mortgage in Pennsylvania: Rate Comparison
Monthly PITI payment using Pennsylvania's 1.36% property tax and $1,400/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $825 | $794 | $684 |
| 6.0% | $855 | $822 | $710 |
| 6.5% | $886 | $851 | $736 |
| 7.0% | $917 | $881 | $762 |
| 7.5% | $950 | $912 | $789 |
| 8.0% | $982 | $943 | $817 |
How This Compares to Pennsylvania's Median
A $100K home is 64% below Pennsylvania's median of $280K. This is well within reach in many Pennsylvania communities.
Income Needed for a $100K Home in Pennsylvania
To afford this payment of $851/mo in Pennsylvania, you'd need a household income of approximately $36K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $40K salary can afford →Closing Costs in Pennsylvania
Estimated closing costs in Pennsylvania: $2K (1.7% of purchase price). Pennsylvania also charges a 2% transfer tax, which may add $2,000 to your transaction costs.
What to Know About a $100K Mortgage in Pennsylvania
With 10% down ($10,000), your loan of $90,000 at 6.5% over 30 years produces a principal and interest payment of $569/mo. Adding Pennsylvania's 1.36% property tax ($113/mo) and $1,400/yr insurance ($117/mo) brings your total to $851/mo. Because you're putting less than 20% down, PMI adds $53/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $114,790 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $10,768 over the life of the loan.