Monthly Payment on a $150K Mortgage in Oregon
Using Oregon's 0.93% property tax rate and $1,400/yr homeowners insurance.
$150K Mortgage in Oregon: Rate Comparison
Monthly PITI payment using Oregon's 0.93% property tax and $1,400/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $1,125 | $1,078 | $914 |
| 6.0% | $1,170 | $1,121 | $952 |
| 6.5% | $1,217 | $1,165 | $991 |
| 7.0% | $1,264 | $1,210 | $1,031 |
| 7.5% | $1,312 | $1,256 | $1,072 |
| 8.0% | $1,362 | $1,302 | $1,113 |
How This Compares to Oregon's Median
A $150K home is 69% below Oregon's median of $480K. This is well within reach in many Oregon communities.
Income Needed for a $150K Home in Oregon
To afford this payment of $1,165/mo in Oregon, you'd need a household income of approximately $50K/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 Oregon
Estimated closing costs in Oregon: $2K (1.4% of purchase price). Oregon also charges a 0.1% transfer tax, which may add $150 to your transaction costs.
What to Know About a $150K Mortgage in Oregon
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 Oregon's 0.93% property tax ($116/mo) and $1,400/yr insurance ($117/mo) brings your total to $1,165/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.