Use the mortgage calculator to calculate the cost of buying a $109k 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 109,000 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 $109,000 house.
$109,000 Home at 2%
| 0% down | $402.89/mo |
| 5% down | $382.74/mo |
| 10% down | $362.60/mo |
| 15% down | $342.45/mo |
| 20% down | $322.31/mo |
| 25% down | $302.16/mo |
| 30% down | $282.02/mo |
| 35% down | $261.88/mo |
| 40% down | $241.73/mo |
| 45% down | $221.59/mo |
| 50% down | $201.44/mo |
$109,000 Home at 4%
| 0% down | $520.38/mo |
| 5% down | $494.36/mo |
| 10% down | $468.34/mo |
| 15% down | $442.33/mo |
| 20% down | $416.31/mo |
| 25% down | $390.29/mo |
| 30% down | $364.27/mo |
| 35% down | $338.25/mo |
| 40% down | $312.23/mo |
| 45% down | $286.21/mo |
| 50% down | $260.19/mo |
$109,000 Home at 6%
| 0% down | $653.51/mo |
| 5% down | $620.83/mo |
| 10% down | $588.16/mo |
| 15% down | $555.48/mo |
| 20% down | $522.81/mo |
| 25% down | $490.13/mo |
| 30% down | $457.46/mo |
| 35% down | $424.78/mo |
| 40% down | $392.11/mo |
| 45% down | $359.43/mo |
| 50% down | $326.76/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.