Use the mortgage calculator to calculate the cost of buying a $130k 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 130,000 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 $130,000 house.
$130,000 Home at 2%
| 0% down | $480.51/mo |
| 5% down | $456.48/mo |
| 10% down | $432.45/mo |
| 15% down | $408.43/mo |
| 20% down | $384.40/mo |
| 25% down | $360.38/mo |
| 30% down | $336.35/mo |
| 35% down | $312.33/mo |
| 40% down | $288.30/mo |
| 45% down | $264.28/mo |
| 50% down | $240.25/mo |
$130,000 Home at 4%
| 0% down | $620.64/mo |
| 5% down | $589.61/mo |
| 10% down | $558.58/mo |
| 15% down | $527.54/mo |
| 20% down | $496.51/mo |
| 25% down | $465.48/mo |
| 30% down | $434.45/mo |
| 35% down | $403.42/mo |
| 40% down | $372.38/mo |
| 45% down | $341.35/mo |
| 50% down | $310.32/mo |
$130,000 Home at 6%
| 0% down | $779.42/mo |
| 5% down | $740.44/mo |
| 10% down | $701.47/mo |
| 15% down | $662.50/mo |
| 20% down | $623.53/mo |
| 25% down | $584.56/mo |
| 30% down | $545.59/mo |
| 35% down | $506.62/mo |
| 40% down | $467.65/mo |
| 45% down | $428.68/mo |
| 50% down | $389.71/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.