Use the mortgage calculator to calculate the cost of buying a $511k 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 511,000 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 $511,000 house.
$511,000 Home at 2%
| 0% down | $1,888.76/mo |
| 5% down | $1,794.32/mo |
| 10% down | $1,699.88/mo |
| 15% down | $1,605.44/mo |
| 20% down | $1,511.00/mo |
| 25% down | $1,416.57/mo |
| 30% down | $1,322.13/mo |
| 35% down | $1,227.69/mo |
| 40% down | $1,133.25/mo |
| 45% down | $1,038.82/mo |
| 50% down | $944.38/mo |
$511,000 Home at 4%
| 0% down | $2,439.59/mo |
| 5% down | $2,317.61/mo |
| 10% down | $2,195.63/mo |
| 15% down | $2,073.65/mo |
| 20% down | $1,951.67/mo |
| 25% down | $1,829.69/mo |
| 30% down | $1,707.71/mo |
| 35% down | $1,585.73/mo |
| 40% down | $1,463.76/mo |
| 45% down | $1,341.78/mo |
| 50% down | $1,219.80/mo |
$511,000 Home at 6%
| 0% down | $3,063.70/mo |
| 5% down | $2,910.52/mo |
| 10% down | $2,757.33/mo |
| 15% down | $2,604.15/mo |
| 20% down | $2,450.96/mo |
| 25% down | $2,297.78/mo |
| 30% down | $2,144.59/mo |
| 35% down | $1,991.41/mo |
| 40% down | $1,838.22/mo |
| 45% down | $1,685.04/mo |
| 50% down | $1,531.85/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.