Use the mortgage calculator to calculate the cost of buying a $226k 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 226,000 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 $226,000 house.
$226,000 Home at 2%
| 0% down | $835.34/mo |
| 5% down | $793.57/mo |
| 10% down | $751.81/mo |
| 15% down | $710.04/mo |
| 20% down | $668.27/mo |
| 25% down | $626.51/mo |
| 30% down | $584.74/mo |
| 35% down | $542.97/mo |
| 40% down | $501.20/mo |
| 45% down | $459.44/mo |
| 50% down | $417.67/mo |
$226,000 Home at 4%
| 0% down | $1,078.96/mo |
| 5% down | $1,025.01/mo |
| 10% down | $971.06/mo |
| 15% down | $917.11/mo |
| 20% down | $863.17/mo |
| 25% down | $809.22/mo |
| 30% down | $755.27/mo |
| 35% down | $701.32/mo |
| 40% down | $647.38/mo |
| 45% down | $593.43/mo |
| 50% down | $539.48/mo |
$226,000 Home at 6%
| 0% down | $1,354.98/mo |
| 5% down | $1,287.23/mo |
| 10% down | $1,219.49/mo |
| 15% down | $1,151.74/mo |
| 20% down | $1,083.99/mo |
| 25% down | $1,016.24/mo |
| 30% down | $948.49/mo |
| 35% down | $880.74/mo |
| 40% down | $812.99/mo |
| 45% down | $745.24/mo |
| 50% down | $677.49/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.