Use the mortgage calculator to calculate the cost of buying a $199k 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 199,000 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 $199,000 house.
$199,000 Home at 2%
| 0% down | $735.54/mo |
| 5% down | $698.77/mo |
| 10% down | $661.99/mo |
| 15% down | $625.21/mo |
| 20% down | $588.43/mo |
| 25% down | $551.66/mo |
| 30% down | $514.88/mo |
| 35% down | $478.10/mo |
| 40% down | $441.33/mo |
| 45% down | $404.55/mo |
| 50% down | $367.77/mo |
$199,000 Home at 4%
| 0% down | $950.06/mo |
| 5% down | $902.55/mo |
| 10% down | $855.05/mo |
| 15% down | $807.55/mo |
| 20% down | $760.05/mo |
| 25% down | $712.54/mo |
| 30% down | $665.04/mo |
| 35% down | $617.54/mo |
| 40% down | $570.03/mo |
| 45% down | $522.53/mo |
| 50% down | $475.03/mo |
$199,000 Home at 6%
| 0% down | $1,193.11/mo |
| 5% down | $1,133.45/mo |
| 10% down | $1,073.79/mo |
| 15% down | $1,014.14/mo |
| 20% down | $954.48/mo |
| 25% down | $894.83/mo |
| 30% down | $835.17/mo |
| 35% down | $775.52/mo |
| 40% down | $715.86/mo |
| 45% down | $656.21/mo |
| 50% down | $596.55/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.