Use the mortgage calculator to calculate the cost of buying a $422k 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 422,000 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 $422,000 house.
$422,000 Home at 2%
| 0% down | $1,559.79/mo |
| 5% down | $1,481.80/mo |
| 10% down | $1,403.81/mo |
| 15% down | $1,325.83/mo |
| 20% down | $1,247.84/mo |
| 25% down | $1,169.85/mo |
| 30% down | $1,091.86/mo |
| 35% down | $1,013.87/mo |
| 40% down | $935.88/mo |
| 45% down | $857.89/mo |
| 50% down | $779.90/mo |
$422,000 Home at 4%
| 0% down | $2,014.69/mo |
| 5% down | $1,913.96/mo |
| 10% down | $1,813.22/mo |
| 15% down | $1,712.49/mo |
| 20% down | $1,611.75/mo |
| 25% down | $1,511.02/mo |
| 30% down | $1,410.28/mo |
| 35% down | $1,309.55/mo |
| 40% down | $1,208.82/mo |
| 45% down | $1,108.08/mo |
| 50% down | $1,007.35/mo |
$422,000 Home at 6%
| 0% down | $2,530.10/mo |
| 5% down | $2,403.60/mo |
| 10% down | $2,277.09/mo |
| 15% down | $2,150.59/mo |
| 20% down | $2,024.08/mo |
| 25% down | $1,897.58/mo |
| 30% down | $1,771.07/mo |
| 35% down | $1,644.57/mo |
| 40% down | $1,518.06/mo |
| 45% down | $1,391.56/mo |
| 50% down | $1,265.05/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.