Home / Lexington, KY
Mortgage Calculator — Lexington, KY
Median home price in Lexington: $270,000. Monthly payment: $1,437/month (20% down, 7%, 30yr). Property tax rate: 0.86%.
= $54,000
Monthly Payment
$1,437
Loan Amount
$216,000
Total Interest
$301,339
Total Cost
$571,339
Payment Breakdown
Down Payment$54,000 (9.5%)
Principal$216,000 (37.8%)
Total Interest$301,339 (52.7%)
Lexington Mortgage Payments by Rate
| Rate | 15-Year | 30-Year | Total Interest (30yr) |
|---|---|---|---|
| 5.5% | $1,765 | $1,226 | $225,513 |
| 6% | $1,823 | $1,295 | $250,210 |
| 6.5% | $1,882 | $1,365 | $275,496 |
| 6.75% | $1,911 | $1,401 | $288,350 |
| 7% | $1,941 | $1,437 | $301,339 |
| 7.25% | $1,972 | $1,474 | $314,460 |
| 7.5% | $2,002 | $1,510 | $327,709 |
| 8% | $2,064 | $1,585 | $354,575 |
Lexington Property Tax & Total Housing Cost
Property Tax Rate
0.86%
$2,322/year
Monthly P&I
$1,437
20% down, 7%, 30yr
Est. Total Monthly
$1,631
P&I + property tax
Affordability in Lexington
10% down ($27,000)$77,579/yr needed
15% down ($40,500)$73,730/yr needed
20% down ($54,000)$69,881/yr needed
25% down ($67,500)$66,032/yr needed
Based on 28% housing cost rule. Includes property tax.