Use the mortgage calculator to calculate the cost of buying a $386k 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 386,000 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 $386,000 house.
$386,000 Home at 2%
| 0% down | $1,426.73/mo |
| 5% down | $1,355.39/mo |
| 10% down | $1,284.06/mo |
| 15% down | $1,212.72/mo |
| 20% down | $1,141.38/mo |
| 25% down | $1,070.05/mo |
| 30% down | $998.71/mo |
| 35% down | $927.38/mo |
| 40% down | $856.04/mo |
| 45% down | $784.70/mo |
| 50% down | $713.37/mo |
$386,000 Home at 4%
| 0% down | $1,842.82/mo |
| 5% down | $1,750.68/mo |
| 10% down | $1,658.54/mo |
| 15% down | $1,566.40/mo |
| 20% down | $1,474.26/mo |
| 25% down | $1,382.12/mo |
| 30% down | $1,289.98/mo |
| 35% down | $1,197.83/mo |
| 40% down | $1,105.69/mo |
| 45% down | $1,013.55/mo |
| 50% down | $921.41/mo |
$386,000 Home at 6%
| 0% down | $2,314.27/mo |
| 5% down | $2,198.55/mo |
| 10% down | $2,082.84/mo |
| 15% down | $1,967.13/mo |
| 20% down | $1,851.41/mo |
| 25% down | $1,735.70/mo |
| 30% down | $1,619.99/mo |
| 35% down | $1,504.27/mo |
| 40% down | $1,388.56/mo |
| 45% down | $1,272.85/mo |
| 50% down | $1,157.13/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.