Use the mortgage calculator to calculate the cost of buying a $395k 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 395,000 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 $395,000 house.
$395,000 Home at 2%
| 0% down | $1,460.00/mo |
| 5% down | $1,387.00/mo |
| 10% down | $1,314.00/mo |
| 15% down | $1,241.00/mo |
| 20% down | $1,168.00/mo |
| 25% down | $1,095.00/mo |
| 30% down | $1,022.00/mo |
| 35% down | $949.00/mo |
| 40% down | $876.00/mo |
| 45% down | $803.00/mo |
| 50% down | $730.00/mo |
$395,000 Home at 4%
| 0% down | $1,885.79/mo |
| 5% down | $1,791.50/mo |
| 10% down | $1,697.21/mo |
| 15% down | $1,602.92/mo |
| 20% down | $1,508.63/mo |
| 25% down | $1,414.34/mo |
| 30% down | $1,320.05/mo |
| 35% down | $1,225.76/mo |
| 40% down | $1,131.47/mo |
| 45% down | $1,037.18/mo |
| 50% down | $942.90/mo |
$395,000 Home at 6%
| 0% down | $2,368.22/mo |
| 5% down | $2,249.81/mo |
| 10% down | $2,131.40/mo |
| 15% down | $2,012.99/mo |
| 20% down | $1,894.58/mo |
| 25% down | $1,776.17/mo |
| 30% down | $1,657.76/mo |
| 35% down | $1,539.35/mo |
| 40% down | $1,420.93/mo |
| 45% down | $1,302.52/mo |
| 50% down | $1,184.11/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.