Home / Cleveland, OH
Mortgage Calculator — Cleveland, OH
Median home price in Cleveland: $170,000. Monthly payment: $905/month (20% down, 7%, 30yr). Property tax rate: 1.93%.
= $34,000
Monthly Payment
$905
Loan Amount
$136,000
Total Interest
$189,732
Total Cost
$359,732
Payment Breakdown
Down Payment$34,000 (9.5%)
Principal$136,000 (37.8%)
Total Interest$189,732 (52.7%)
Cleveland Mortgage Payments by Rate
| Rate | 15-Year | 30-Year | Total Interest (30yr) |
|---|---|---|---|
| 5.5% | $1,111 | $772 | $141,989 |
| 6% | $1,148 | $815 | $157,540 |
| 6.5% | $1,185 | $860 | $173,461 |
| 6.75% | $1,203 | $882 | $181,554 |
| 7% | $1,222 | $905 | $189,732 |
| 7.25% | $1,241 | $928 | $197,994 |
| 7.5% | $1,261 | $951 | $206,335 |
| 8% | $1,300 | $998 | $223,251 |
Cleveland Property Tax & Total Housing Cost
Property Tax Rate
1.93%
$3,281/year
Monthly P&I
$905
20% down, 7%, 30yr
Est. Total Monthly
$1,178
P&I + property tax
Affordability in Cleveland
10% down ($17,000)$55,343/yr needed
15% down ($25,500)$52,919/yr needed
20% down ($34,000)$50,495/yr needed
25% down ($42,500)$48,072/yr needed
Based on 28% housing cost rule. Includes property tax.