Use the mortgage calculator to calculate the cost of buying a $283k 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 283,000 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 $283,000 house.
$283,000 Home at 2%
| 0% down | $1,046.02/mo |
| 5% down | $993.72/mo |
| 10% down | $941.42/mo |
| 15% down | $889.12/mo |
| 20% down | $836.82/mo |
| 25% down | $784.52/mo |
| 30% down | $732.22/mo |
| 35% down | $679.92/mo |
| 40% down | $627.61/mo |
| 45% down | $575.31/mo |
| 50% down | $523.01/mo |
$283,000 Home at 4%
| 0% down | $1,351.09/mo |
| 5% down | $1,283.53/mo |
| 10% down | $1,215.98/mo |
| 15% down | $1,148.42/mo |
| 20% down | $1,080.87/mo |
| 25% down | $1,013.31/mo |
| 30% down | $945.76/mo |
| 35% down | $878.21/mo |
| 40% down | $810.65/mo |
| 45% down | $743.10/mo |
| 50% down | $675.54/mo |
$283,000 Home at 6%
| 0% down | $1,696.73/mo |
| 5% down | $1,611.89/mo |
| 10% down | $1,527.06/mo |
| 15% down | $1,442.22/mo |
| 20% down | $1,357.38/mo |
| 25% down | $1,272.55/mo |
| 30% down | $1,187.71/mo |
| 35% down | $1,102.87/mo |
| 40% down | $1,018.04/mo |
| 45% down | $933.20/mo |
| 50% down | $848.36/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.