Use the mortgage calculator to calculate the cost of buying a $271k 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 271,000 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 $271,000 house.
$271,000 Home at 2%
| 0% down | $1,001.67/mo |
| 5% down | $951.59/mo |
| 10% down | $901.50/mo |
| 15% down | $851.42/mo |
| 20% down | $801.34/mo |
| 25% down | $751.25/mo |
| 30% down | $701.17/mo |
| 35% down | $651.08/mo |
| 40% down | $601.00/mo |
| 45% down | $550.92/mo |
| 50% down | $500.83/mo |
$271,000 Home at 4%
| 0% down | $1,293.80/mo |
| 5% down | $1,229.11/mo |
| 10% down | $1,164.42/mo |
| 15% down | $1,099.73/mo |
| 20% down | $1,035.04/mo |
| 25% down | $970.35/mo |
| 30% down | $905.66/mo |
| 35% down | $840.97/mo |
| 40% down | $776.28/mo |
| 45% down | $711.59/mo |
| 50% down | $646.90/mo |
$271,000 Home at 6%
| 0% down | $1,624.78/mo |
| 5% down | $1,543.54/mo |
| 10% down | $1,462.30/mo |
| 15% down | $1,381.06/mo |
| 20% down | $1,299.83/mo |
| 25% down | $1,218.59/mo |
| 30% down | $1,137.35/mo |
| 35% down | $1,056.11/mo |
| 40% down | $974.87/mo |
| 45% down | $893.63/mo |
| 50% down | $812.39/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.