Use the mortgage calculator to calculate the cost of buying a $284k 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 284,000 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 $284,000 house.
$284,000 Home at 2%
| 0% down | $1,049.72/mo |
| 5% down | $997.23/mo |
| 10% down | $944.75/mo |
| 15% down | $892.26/mo |
| 20% down | $839.78/mo |
| 25% down | $787.29/mo |
| 30% down | $734.80/mo |
| 35% down | $682.32/mo |
| 40% down | $629.83/mo |
| 45% down | $577.35/mo |
| 50% down | $524.86/mo |
$284,000 Home at 4%
| 0% down | $1,355.86/mo |
| 5% down | $1,288.07/mo |
| 10% down | $1,220.27/mo |
| 15% down | $1,152.48/mo |
| 20% down | $1,084.69/mo |
| 25% down | $1,016.89/mo |
| 30% down | $949.10/mo |
| 35% down | $881.31/mo |
| 40% down | $813.52/mo |
| 45% down | $745.72/mo |
| 50% down | $677.93/mo |
$284,000 Home at 6%
| 0% down | $1,702.72/mo |
| 5% down | $1,617.59/mo |
| 10% down | $1,532.45/mo |
| 15% down | $1,447.31/mo |
| 20% down | $1,362.18/mo |
| 25% down | $1,277.04/mo |
| 30% down | $1,191.91/mo |
| 35% down | $1,106.77/mo |
| 40% down | $1,021.63/mo |
| 45% down | $936.50/mo |
| 50% down | $851.36/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.