Use the mortgage calculator to calculate the cost of buying a $203k 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 203,000 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 $203,000 house.
$203,000 Home at 2%
| 0% down | $750.33/mo |
| 5% down | $712.81/mo |
| 10% down | $675.29/mo |
| 15% down | $637.78/mo |
| 20% down | $600.26/mo |
| 25% down | $562.75/mo |
| 30% down | $525.23/mo |
| 35% down | $487.71/mo |
| 40% down | $450.20/mo |
| 45% down | $412.68/mo |
| 50% down | $375.16/mo |
$203,000 Home at 4%
| 0% down | $969.15/mo |
| 5% down | $920.70/mo |
| 10% down | $872.24/mo |
| 15% down | $823.78/mo |
| 20% down | $775.32/mo |
| 25% down | $726.86/mo |
| 30% down | $678.41/mo |
| 35% down | $629.95/mo |
| 40% down | $581.49/mo |
| 45% down | $533.03/mo |
| 50% down | $484.58/mo |
$203,000 Home at 6%
| 0% down | $1,217.09/mo |
| 5% down | $1,156.23/mo |
| 10% down | $1,095.38/mo |
| 15% down | $1,034.52/mo |
| 20% down | $973.67/mo |
| 25% down | $912.82/mo |
| 30% down | $851.96/mo |
| 35% down | $791.11/mo |
| 40% down | $730.25/mo |
| 45% down | $669.40/mo |
| 50% down | $608.54/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.