Use the mortgage calculator to calculate the cost of buying a $163k 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 163,000 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 $163,000 house.
$163,000 Home at 2%
| 0% down | $602.48/mo |
| 5% down | $572.36/mo |
| 10% down | $542.23/mo |
| 15% down | $512.11/mo |
| 20% down | $481.98/mo |
| 25% down | $451.86/mo |
| 30% down | $421.74/mo |
| 35% down | $391.61/mo |
| 40% down | $361.49/mo |
| 45% down | $331.36/mo |
| 50% down | $301.24/mo |
$163,000 Home at 4%
| 0% down | $778.19/mo |
| 5% down | $739.28/mo |
| 10% down | $700.37/mo |
| 15% down | $661.46/mo |
| 20% down | $622.55/mo |
| 25% down | $583.64/mo |
| 30% down | $544.73/mo |
| 35% down | $505.82/mo |
| 40% down | $466.91/mo |
| 45% down | $428.00/mo |
| 50% down | $389.09/mo |
$163,000 Home at 6%
| 0% down | $977.27/mo |
| 5% down | $928.40/mo |
| 10% down | $879.54/mo |
| 15% down | $830.68/mo |
| 20% down | $781.81/mo |
| 25% down | $732.95/mo |
| 30% down | $684.09/mo |
| 35% down | $635.22/mo |
| 40% down | $586.36/mo |
| 45% down | $537.50/mo |
| 50% down | $488.63/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.