# How much is a payment on a \$50 000 loan?

How much would a monthly payment be on a \$50,000 personal loan? If you take a \$50,000 personal loan at a 4.99% interest rate and a 12-year repayment term your monthly payment should be around \$462.

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## Then, can I buy a home making 40k a year?

Take a homebuyer who makes \$40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is \$933. (\$40,000 times 0.28 equals \$11,200, and \$11,200 divided by 12 months equals \$933.33.)

Keeping this in consideration, how do you calculate interest on 50000? The formula for calculating simple interest is:

1. (P x r x t) ÷ 100.
2. (P x r x t) ÷ (100 x 12)
3. FV = P x (1 + (r x t))
4. Example 1: If you invest Rs.50,000 in a fixed deposit account for a period of 1 year at an interest rate of 8%, then the simple interest earned will be:

## Also, how much do you need to make for a 50000 loan?

Home affordability by debt-to-income ratio

Annual Income Monthly Debts Desired Mortgage Payment
\$50,000 \$0 \$1,500
\$50,000 \$200 \$1,300
\$50,000 \$500 \$1,000

## How much home loan can I get on 50000 salary?

How much home loan can I get on my salary?

Net Monthly income Home Loan Amount
Rs.25,000 Rs.18,64,338
Rs.30,000 Rs.22,37,206
Rs.40,000 Rs.29,82,941
Rs.50,000 Rs.37,28,676

## Is 675 a good credit score to buy a house?

If your credit score is a 675 or higher, and you meet other requirements, you should not have any problem getting a mortgage. Credit scores in the 620-680 range are generally considered fair credit.

## What house can I afford on 40k a year?

However, how much you can afford depends on your credit, down payment and other costs like taxes and insurance.

Gross Income 28% of Monthly Gross Income 36% of Monthly Gross Income
\$40,000 \$933 \$1,200
\$50,000 \$1,167 \$1,500
\$60,000 \$1,400 \$1,800
\$80,000 \$1,867 \$2,400

## What is considered a good credit score?

Generally speaking, a credit score is a three-digit number ranging from 300 to 850. … Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

## What is the EMI for 3 lakhs personal loan?

Calculated Monthly EMI for 300000 of loan amount for 3 years at various rate of Interest :

Loan Amount Rate of Interest Per Month EMI
3 Lakh 15.00% Rs.10399.6
3 Lakh 16.00% Rs.10547.11
3 Lakh 18.00% Rs.10845.72
3 Lakh 20.00% Rs.11149.08

## What is the EMI for 50000 loan?

Calculated Monthly EMI for 50000 of loan amount for 3 years at various rate of Interest :

Loan Amount Rate of Interest Per Month EMI
50000 14.00% Rs. 1,709
50000 15.00% Rs. 1,733
50000 16.00% Rs. 1,758
50000 18.00% Rs. 1,808

## What is the interest of 50000 in SBI?

State Bank of India Fixed Deposit Returns Based on Investment Amount

Investment Amount For 3 years with interest of 5.3% For 5 years with interest of 5.4%
₹ 50,000 ₹65134 ₹65459
₹ 1 lakh ₹130267 ₹130917
₹ 2 lakh ₹260534 ₹261834
₹ 5 lakh ₹651335 ₹654586