Use the mortgage calculator to calculate the cost of buying a $281k 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 281,000 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 $281,000 house.
$281,000 Home at 2%
| 0% down | $1,038.63/mo |
| 5% down | $986.70/mo |
| 10% down | $934.77/mo |
| 15% down | $882.84/mo |
| 20% down | $830.90/mo |
| 25% down | $778.97/mo |
| 30% down | $727.04/mo |
| 35% down | $675.11/mo |
| 40% down | $623.18/mo |
| 45% down | $571.25/mo |
| 50% down | $519.32/mo |
$281,000 Home at 4%
| 0% down | $1,341.54/mo |
| 5% down | $1,274.46/mo |
| 10% down | $1,207.38/mo |
| 15% down | $1,140.31/mo |
| 20% down | $1,073.23/mo |
| 25% down | $1,006.15/mo |
| 30% down | $939.08/mo |
| 35% down | $872.00/mo |
| 40% down | $804.92/mo |
| 45% down | $737.85/mo |
| 50% down | $670.77/mo |
$281,000 Home at 6%
| 0% down | $1,684.74/mo |
| 5% down | $1,600.50/mo |
| 10% down | $1,516.26/mo |
| 15% down | $1,432.03/mo |
| 20% down | $1,347.79/mo |
| 25% down | $1,263.55/mo |
| 30% down | $1,179.32/mo |
| 35% down | $1,095.08/mo |
| 40% down | $1,010.84/mo |
| 45% down | $926.61/mo |
| 50% down | $842.37/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.