Use the mortgage calculator to calculate the cost of buying a $225k 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 225,000 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 $225,000 house.
$225,000 Home at 2%
| 0% down | $831.64/mo |
| 5% down | $790.06/mo |
| 10% down | $748.48/mo |
| 15% down | $706.90/mo |
| 20% down | $665.32/mo |
| 25% down | $623.73/mo |
| 30% down | $582.15/mo |
| 35% down | $540.57/mo |
| 40% down | $498.99/mo |
| 45% down | $457.40/mo |
| 50% down | $415.82/mo |
$225,000 Home at 4%
| 0% down | $1,074.18/mo |
| 5% down | $1,020.48/mo |
| 10% down | $966.77/mo |
| 15% down | $913.06/mo |
| 20% down | $859.35/mo |
| 25% down | $805.64/mo |
| 30% down | $751.93/mo |
| 35% down | $698.22/mo |
| 40% down | $644.51/mo |
| 45% down | $590.80/mo |
| 50% down | $537.09/mo |
$225,000 Home at 6%
| 0% down | $1,348.99/mo |
| 5% down | $1,281.54/mo |
| 10% down | $1,214.09/mo |
| 15% down | $1,146.64/mo |
| 20% down | $1,079.19/mo |
| 25% down | $1,011.74/mo |
| 30% down | $944.29/mo |
| 35% down | $876.84/mo |
| 40% down | $809.39/mo |
| 45% down | $741.94/mo |
| 50% down | $674.49/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.