Use the mortgage calculator to calculate the cost of buying a $490k 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 490,000 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 $490,000 house.
$490,000 Home at 2%
| 0% down | $1,811.14/mo |
| 5% down | $1,720.58/mo |
| 10% down | $1,630.02/mo |
| 15% down | $1,539.47/mo |
| 20% down | $1,448.91/mo |
| 25% down | $1,358.35/mo |
| 30% down | $1,267.79/mo |
| 35% down | $1,177.24/mo |
| 40% down | $1,086.68/mo |
| 45% down | $996.12/mo |
| 50% down | $905.57/mo |
$490,000 Home at 4%
| 0% down | $2,339.33/mo |
| 5% down | $2,222.37/mo |
| 10% down | $2,105.40/mo |
| 15% down | $1,988.43/mo |
| 20% down | $1,871.47/mo |
| 25% down | $1,754.50/mo |
| 30% down | $1,637.53/mo |
| 35% down | $1,520.57/mo |
| 40% down | $1,403.60/mo |
| 45% down | $1,286.63/mo |
| 50% down | $1,169.67/mo |
$490,000 Home at 6%
| 0% down | $2,937.80/mo |
| 5% down | $2,790.91/mo |
| 10% down | $2,644.02/mo |
| 15% down | $2,497.13/mo |
| 20% down | $2,350.24/mo |
| 25% down | $2,203.35/mo |
| 30% down | $2,056.46/mo |
| 35% down | $1,909.57/mo |
| 40% down | $1,762.68/mo |
| 45% down | $1,615.79/mo |
| 50% down | $1,468.90/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.