Use the mortgage calculator to calculate the cost of buying a $497k 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 497,000 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 $497,000 house.
$497,000 Home at 2%
0% down | $1,837.01/mo |
5% down | $1,745.16/mo |
10% down | $1,653.31/mo |
15% down | $1,561.46/mo |
20% down | $1,469.61/mo |
25% down | $1,377.76/mo |
30% down | $1,285.91/mo |
35% down | $1,194.06/mo |
40% down | $1,102.21/mo |
45% down | $1,010.35/mo |
50% down | $918.50/mo |
$497,000 Home at 4%
0% down | $2,372.75/mo |
5% down | $2,254.12/mo |
10% down | $2,135.48/mo |
15% down | $2,016.84/mo |
20% down | $1,898.20/mo |
25% down | $1,779.57/mo |
30% down | $1,660.93/mo |
35% down | $1,542.29/mo |
40% down | $1,423.65/mo |
45% down | $1,305.01/mo |
50% down | $1,186.38/mo |
$497,000 Home at 6%
0% down | $2,979.77/mo |
5% down | $2,830.78/mo |
10% down | $2,681.79/mo |
15% down | $2,532.80/mo |
20% down | $2,383.81/mo |
25% down | $2,234.82/mo |
30% down | $2,085.84/mo |
35% down | $1,936.85/mo |
40% down | $1,787.86/mo |
45% down | $1,638.87/mo |
50% down | $1,489.88/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.