Use the mortgage calculator to calculate the cost of buying a $218k 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 218,000 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 $218,000 house.
$218,000 Home at 2%
| 0% down | $805.77/mo |
| 5% down | $765.48/mo |
| 10% down | $725.19/mo |
| 15% down | $684.90/mo |
| 20% down | $644.62/mo |
| 25% down | $604.33/mo |
| 30% down | $564.04/mo |
| 35% down | $523.75/mo |
| 40% down | $483.46/mo |
| 45% down | $443.17/mo |
| 50% down | $402.89/mo |
$218,000 Home at 4%
| 0% down | $1,040.77/mo |
| 5% down | $988.73/mo |
| 10% down | $936.69/mo |
| 15% down | $884.65/mo |
| 20% down | $832.61/mo |
| 25% down | $780.57/mo |
| 30% down | $728.54/mo |
| 35% down | $676.50/mo |
| 40% down | $624.46/mo |
| 45% down | $572.42/mo |
| 50% down | $520.38/mo |
$218,000 Home at 6%
| 0% down | $1,307.02/mo |
| 5% down | $1,241.67/mo |
| 10% down | $1,176.32/mo |
| 15% down | $1,110.97/mo |
| 20% down | $1,045.62/mo |
| 25% down | $980.27/mo |
| 30% down | $914.91/mo |
| 35% down | $849.56/mo |
| 40% down | $784.21/mo |
| 45% down | $718.86/mo |
| 50% down | $653.51/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.