Use the mortgage calculator to calculate the cost of buying a $253k 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 253,000 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 $253,000 house.
$253,000 Home at 2%
| 0% down | $935.14/mo |
| 5% down | $888.38/mo |
| 10% down | $841.62/mo |
| 15% down | $794.87/mo |
| 20% down | $748.11/mo |
| 25% down | $701.35/mo |
| 30% down | $654.60/mo |
| 35% down | $607.84/mo |
| 40% down | $561.08/mo |
| 45% down | $514.33/mo |
| 50% down | $467.57/mo |
$253,000 Home at 4%
| 0% down | $1,207.86/mo |
| 5% down | $1,147.47/mo |
| 10% down | $1,087.07/mo |
| 15% down | $1,026.68/mo |
| 20% down | $966.29/mo |
| 25% down | $905.90/mo |
| 30% down | $845.50/mo |
| 35% down | $785.11/mo |
| 40% down | $724.72/mo |
| 45% down | $664.32/mo |
| 50% down | $603.93/mo |
$253,000 Home at 6%
| 0% down | $1,516.86/mo |
| 5% down | $1,441.02/mo |
| 10% down | $1,365.18/mo |
| 15% down | $1,289.33/mo |
| 20% down | $1,213.49/mo |
| 25% down | $1,137.65/mo |
| 30% down | $1,061.80/mo |
| 35% down | $985.96/mo |
| 40% down | $910.12/mo |
| 45% down | $834.27/mo |
| 50% down | $758.43/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.