Use the mortgage calculator to calculate the cost of buying a $228k 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 228,000 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 $228,000 house.
$228,000 Home at 2%
| 0% down | $842.73/mo |
| 5% down | $800.60/mo |
| 10% down | $758.46/mo |
| 15% down | $716.32/mo |
| 20% down | $674.19/mo |
| 25% down | $632.05/mo |
| 30% down | $589.91/mo |
| 35% down | $547.78/mo |
| 40% down | $505.64/mo |
| 45% down | $463.50/mo |
| 50% down | $421.37/mo |
$228,000 Home at 4%
| 0% down | $1,088.51/mo |
| 5% down | $1,034.08/mo |
| 10% down | $979.66/mo |
| 15% down | $925.23/mo |
| 20% down | $870.81/mo |
| 25% down | $816.38/mo |
| 30% down | $761.95/mo |
| 35% down | $707.53/mo |
| 40% down | $653.10/mo |
| 45% down | $598.68/mo |
| 50% down | $544.25/mo |
$228,000 Home at 6%
| 0% down | $1,366.98/mo |
| 5% down | $1,298.63/mo |
| 10% down | $1,230.28/mo |
| 15% down | $1,161.93/mo |
| 20% down | $1,093.58/mo |
| 25% down | $1,025.23/mo |
| 30% down | $956.88/mo |
| 35% down | $888.53/mo |
| 40% down | $820.19/mo |
| 45% down | $751.84/mo |
| 50% down | $683.49/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.