Use the mortgage calculator to calculate the cost of buying a $121k 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 121,000 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 $121,000 house.
$121,000 Home at 2%
| 0% down | $447.24/mo |
| 5% down | $424.88/mo |
| 10% down | $402.52/mo |
| 15% down | $380.15/mo |
| 20% down | $357.79/mo |
| 25% down | $335.43/mo |
| 30% down | $313.07/mo |
| 35% down | $290.71/mo |
| 40% down | $268.34/mo |
| 45% down | $245.98/mo |
| 50% down | $223.62/mo |
$121,000 Home at 4%
| 0% down | $577.67/mo |
| 5% down | $548.79/mo |
| 10% down | $519.91/mo |
| 15% down | $491.02/mo |
| 20% down | $462.14/mo |
| 25% down | $433.25/mo |
| 30% down | $404.37/mo |
| 35% down | $375.49/mo |
| 40% down | $346.60/mo |
| 45% down | $317.72/mo |
| 50% down | $288.84/mo |
$121,000 Home at 6%
| 0% down | $725.46/mo |
| 5% down | $689.18/mo |
| 10% down | $652.91/mo |
| 15% down | $616.64/mo |
| 20% down | $580.36/mo |
| 25% down | $544.09/mo |
| 30% down | $507.82/mo |
| 35% down | $471.55/mo |
| 40% down | $435.27/mo |
| 45% down | $399.00/mo |
| 50% down | $362.73/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.