Use the mortgage calculator to calculate the cost of buying a $470k 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 470,000 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 $470,000 house.
$470,000 Home at 2%
| 0% down | $1,737.21/mo |
| 5% down | $1,650.35/mo |
| 10% down | $1,563.49/mo |
| 15% down | $1,476.63/mo |
| 20% down | $1,389.77/mo |
| 25% down | $1,302.91/mo |
| 30% down | $1,216.05/mo |
| 35% down | $1,129.19/mo |
| 40% down | $1,042.33/mo |
| 45% down | $955.47/mo |
| 50% down | $868.61/mo |
$470,000 Home at 4%
| 0% down | $2,243.85/mo |
| 5% down | $2,131.66/mo |
| 10% down | $2,019.47/mo |
| 15% down | $1,907.27/mo |
| 20% down | $1,795.08/mo |
| 25% down | $1,682.89/mo |
| 30% down | $1,570.70/mo |
| 35% down | $1,458.50/mo |
| 40% down | $1,346.31/mo |
| 45% down | $1,234.12/mo |
| 50% down | $1,121.93/mo |
$470,000 Home at 6%
| 0% down | $2,817.89/mo |
| 5% down | $2,676.99/mo |
| 10% down | $2,536.10/mo |
| 15% down | $2,395.20/mo |
| 20% down | $2,254.31/mo |
| 25% down | $2,113.42/mo |
| 30% down | $1,972.52/mo |
| 35% down | $1,831.63/mo |
| 40% down | $1,690.73/mo |
| 45% down | $1,549.84/mo |
| 50% down | $1,408.94/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.