Use the mortgage calculator to calculate the cost of buying a $297k 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 297,000 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 $297,000 house.
$297,000 Home at 2%
| 0% down | $1,097.77/mo |
| 5% down | $1,042.88/mo |
| 10% down | $987.99/mo |
| 15% down | $933.10/mo |
| 20% down | $878.22/mo |
| 25% down | $823.33/mo |
| 30% down | $768.44/mo |
| 35% down | $713.55/mo |
| 40% down | $658.66/mo |
| 45% down | $603.77/mo |
| 50% down | $548.88/mo |
$297,000 Home at 4%
| 0% down | $1,417.92/mo |
| 5% down | $1,347.03/mo |
| 10% down | $1,276.13/mo |
| 15% down | $1,205.23/mo |
| 20% down | $1,134.34/mo |
| 25% down | $1,063.44/mo |
| 30% down | $992.55/mo |
| 35% down | $921.65/mo |
| 40% down | $850.75/mo |
| 45% down | $779.86/mo |
| 50% down | $708.96/mo |
$297,000 Home at 6%
| 0% down | $1,780.67/mo |
| 5% down | $1,691.63/mo |
| 10% down | $1,602.60/mo |
| 15% down | $1,513.57/mo |
| 20% down | $1,424.53/mo |
| 25% down | $1,335.50/mo |
| 30% down | $1,246.47/mo |
| 35% down | $1,157.43/mo |
| 40% down | $1,068.40/mo |
| 45% down | $979.37/mo |
| 50% down | $890.33/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.