Use the mortgage calculator to calculate the cost of buying a $246k 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 246,000 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 $246,000 house.
$246,000 Home at 2%
| 0% down | $909.26/mo |
| 5% down | $863.80/mo |
| 10% down | $818.34/mo |
| 15% down | $772.87/mo |
| 20% down | $727.41/mo |
| 25% down | $681.95/mo |
| 30% down | $636.48/mo |
| 35% down | $591.02/mo |
| 40% down | $545.56/mo |
| 45% down | $500.10/mo |
| 50% down | $454.63/mo |
$246,000 Home at 4%
| 0% down | $1,174.44/mo |
| 5% down | $1,115.72/mo |
| 10% down | $1,057.00/mo |
| 15% down | $998.28/mo |
| 20% down | $939.55/mo |
| 25% down | $880.83/mo |
| 30% down | $822.11/mo |
| 35% down | $763.39/mo |
| 40% down | $704.66/mo |
| 45% down | $645.94/mo |
| 50% down | $587.22/mo |
$246,000 Home at 6%
| 0% down | $1,474.89/mo |
| 5% down | $1,401.15/mo |
| 10% down | $1,327.40/mo |
| 15% down | $1,253.66/mo |
| 20% down | $1,179.92/mo |
| 25% down | $1,106.17/mo |
| 30% down | $1,032.43/mo |
| 35% down | $958.68/mo |
| 40% down | $884.94/mo |
| 45% down | $811.19/mo |
| 50% down | $737.45/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.