Use the mortgage calculator to calculate the cost of buying a $318k 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 318,000 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 $318,000 house.
$318,000 Home at 2%
| 0% down | $1,175.39/mo |
| 5% down | $1,116.62/mo |
| 10% down | $1,057.85/mo |
| 15% down | $999.08/mo |
| 20% down | $940.31/mo |
| 25% down | $881.54/mo |
| 30% down | $822.77/mo |
| 35% down | $764.00/mo |
| 40% down | $705.23/mo |
| 45% down | $646.46/mo |
| 50% down | $587.69/mo |
$318,000 Home at 4%
| 0% down | $1,518.18/mo |
| 5% down | $1,442.27/mo |
| 10% down | $1,366.36/mo |
| 15% down | $1,290.45/mo |
| 20% down | $1,214.54/mo |
| 25% down | $1,138.64/mo |
| 30% down | $1,062.73/mo |
| 35% down | $986.82/mo |
| 40% down | $910.91/mo |
| 45% down | $835.00/mo |
| 50% down | $759.09/mo |
$318,000 Home at 6%
| 0% down | $1,906.57/mo |
| 5% down | $1,811.24/mo |
| 10% down | $1,715.91/mo |
| 15% down | $1,620.59/mo |
| 20% down | $1,525.26/mo |
| 25% down | $1,429.93/mo |
| 30% down | $1,334.60/mo |
| 35% down | $1,239.27/mo |
| 40% down | $1,143.94/mo |
| 45% down | $1,048.61/mo |
| 50% down | $953.29/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.