Use the mortgage calculator to calculate the cost of buying a $491k 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 491,000 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 $491,000 house.
$491,000 Home at 2%
| 0% down | $1,814.83/mo |
| 5% down | $1,724.09/mo |
| 10% down | $1,633.35/mo |
| 15% down | $1,542.61/mo |
| 20% down | $1,451.87/mo |
| 25% down | $1,361.12/mo |
| 30% down | $1,270.38/mo |
| 35% down | $1,179.64/mo |
| 40% down | $1,088.90/mo |
| 45% down | $998.16/mo |
| 50% down | $907.42/mo |
$491,000 Home at 4%
| 0% down | $2,344.11/mo |
| 5% down | $2,226.90/mo |
| 10% down | $2,109.70/mo |
| 15% down | $1,992.49/mo |
| 20% down | $1,875.29/mo |
| 25% down | $1,758.08/mo |
| 30% down | $1,640.88/mo |
| 35% down | $1,523.67/mo |
| 40% down | $1,406.47/mo |
| 45% down | $1,289.26/mo |
| 50% down | $1,172.05/mo |
$491,000 Home at 6%
| 0% down | $2,943.79/mo |
| 5% down | $2,796.60/mo |
| 10% down | $2,649.41/mo |
| 15% down | $2,502.22/mo |
| 20% down | $2,355.03/mo |
| 25% down | $2,207.84/mo |
| 30% down | $2,060.66/mo |
| 35% down | $1,913.47/mo |
| 40% down | $1,766.28/mo |
| 45% down | $1,619.09/mo |
| 50% down | $1,471.90/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.