Monthly Payment on a $150K Mortgage in Wisconsin
Using Wisconsin's 1.76% property tax rate and $1,300/yr homeowners insurance.
$150K Mortgage in Wisconsin: Rate Comparison
Monthly PITI payment using Wisconsin's 1.76% property tax and $1,300/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $1,221 | $1,174 | $1,010 |
| 6.0% | $1,266 | $1,216 | $1,048 |
| 6.5% | $1,312 | $1,260 | $1,087 |
| 7.0% | $1,360 | $1,305 | $1,127 |
| 7.5% | $1,408 | $1,351 | $1,167 |
| 8.0% | $1,457 | $1,398 | $1,209 |
How This Compares to Wisconsin's Median
A $150K home is 46% below Wisconsin's median of $280K. You'll find homes at this price in cities like Two Rivers.
Income Needed for a $150K Home in Wisconsin
To afford this payment of $1,260/mo in Wisconsin, you'd need a household income of approximately $54K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $50K salary can afford →Closing Costs in Wisconsin
Estimated closing costs in Wisconsin: $2K (1.4% of purchase price). Wisconsin also charges a 0.3% transfer tax, which may add $450 to your transaction costs.
What to Know About a $150K Mortgage in Wisconsin
Note that Wisconsin's 1.76% property tax rate adds $220/mo to your payment — significantly more than the national average of roughly 1.1%. On a $150K home, that's $2,640/year in property taxes alone. This is a major factor in your total payment and something to budget for carefully.
With 10% down ($15,000), your loan of $135,000 at 6.5% over 30 years produces a principal and interest payment of $853/mo. Adding Wisconsin's 1.76% property tax ($220/mo) and $1,300/yr insurance ($108/mo) brings your total to $1,260/mo. Because you're putting less than 20% down, PMI adds $79/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $172,185 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $16,152 over the life of the loan.