Use the mortgage calculator to calculate the cost of buying a $254k 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 254,000 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 $254,000 house.
$254,000 Home at 2%
| 0% down | $938.83/mo |
| 5% down | $891.89/mo |
| 10% down | $844.95/mo |
| 15% down | $798.01/mo |
| 20% down | $751.07/mo |
| 25% down | $704.13/mo |
| 30% down | $657.18/mo |
| 35% down | $610.24/mo |
| 40% down | $563.30/mo |
| 45% down | $516.36/mo |
| 50% down | $469.42/mo |
$254,000 Home at 4%
| 0% down | $1,212.63/mo |
| 5% down | $1,152.00/mo |
| 10% down | $1,091.37/mo |
| 15% down | $1,030.74/mo |
| 20% down | $970.11/mo |
| 25% down | $909.48/mo |
| 30% down | $848.84/mo |
| 35% down | $788.21/mo |
| 40% down | $727.58/mo |
| 45% down | $666.95/mo |
| 50% down | $606.32/mo |
$254,000 Home at 6%
| 0% down | $1,522.86/mo |
| 5% down | $1,446.72/mo |
| 10% down | $1,370.57/mo |
| 15% down | $1,294.43/mo |
| 20% down | $1,218.29/mo |
| 25% down | $1,142.14/mo |
| 30% down | $1,066.00/mo |
| 35% down | $989.86/mo |
| 40% down | $913.72/mo |
| 45% down | $837.57/mo |
| 50% down | $761.43/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.