Use the mortgage calculator to calculate the cost of buying a $104k home. Change the numbers to see different options.
This calc can be used for car loans, debt, real estate, home purchase, etc.
Can I afford a 104,000 dollar house? It depends.
In addition to the mortgage payment, a home also has insurance, maintenance, and taxes.
Taxes can vary drastically by area. A very rough estimate is to not spend more than 30% of your income
on housing.
How do I get a mortgage? A simple first step is to talk to a local banker and fill out a mortgage application. Then consider other offers, either local or online.
How much of a down payment should I make? Here's a little chart that shows monthly payments based on down payment for a $104,000 house.
$104,000 Home at 2%
| 0% down | $384.40/mo |
| 5% down | $365.18/mo |
| 10% down | $345.96/mo |
| 15% down | $326.74/mo |
| 20% down | $307.52/mo |
| 25% down | $288.30/mo |
| 30% down | $269.08/mo |
| 35% down | $249.86/mo |
| 40% down | $230.64/mo |
| 45% down | $211.42/mo |
| 50% down | $192.20/mo |
$104,000 Home at 4%
| 0% down | $496.51/mo |
| 5% down | $471.69/mo |
| 10% down | $446.86/mo |
| 15% down | $422.04/mo |
| 20% down | $397.21/mo |
| 25% down | $372.38/mo |
| 30% down | $347.56/mo |
| 35% down | $322.73/mo |
| 40% down | $297.91/mo |
| 45% down | $273.08/mo |
| 50% down | $248.26/mo |
$104,000 Home at 6%
| 0% down | $623.53/mo |
| 5% down | $592.36/mo |
| 10% down | $561.18/mo |
| 15% down | $530.00/mo |
| 20% down | $498.83/mo |
| 25% down | $467.65/mo |
| 30% down | $436.47/mo |
| 35% down | $405.30/mo |
| 40% down | $374.12/mo |
| 45% down | $342.94/mo |
| 50% down | $311.77/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.