Use the mortgage calculator to calculate the cost of buying a $489k 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 489,000 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 $489,000 house.
$489,000 Home at 2%
0% down | $1,807.44/mo |
5% down | $1,717.07/mo |
10% down | $1,626.70/mo |
15% down | $1,536.32/mo |
20% down | $1,445.95/mo |
25% down | $1,355.58/mo |
30% down | $1,265.21/mo |
35% down | $1,174.84/mo |
40% down | $1,084.46/mo |
45% down | $994.09/mo |
50% down | $903.72/mo |
$489,000 Home at 4%
0% down | $2,334.56/mo |
5% down | $2,217.83/mo |
10% down | $2,101.10/mo |
15% down | $1,984.38/mo |
20% down | $1,867.65/mo |
25% down | $1,750.92/mo |
30% down | $1,634.19/mo |
35% down | $1,517.46/mo |
40% down | $1,400.74/mo |
45% down | $1,284.01/mo |
50% down | $1,167.28/mo |
$489,000 Home at 6%
0% down | $2,931.80/mo |
5% down | $2,785.21/mo |
10% down | $2,638.62/mo |
15% down | $2,492.03/mo |
20% down | $2,345.44/mo |
25% down | $2,198.85/mo |
30% down | $2,052.26/mo |
35% down | $1,905.67/mo |
40% down | $1,759.08/mo |
45% down | $1,612.49/mo |
50% down | $1,465.90/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.