Use the mortgage calculator to calculate the cost of buying a $530k 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 530,000 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 $530,000 house.
$530,000 Home at 2%
| 0% down | $1,958.98/mo |
| 5% down | $1,861.03/mo |
| 10% down | $1,763.08/mo |
| 15% down | $1,665.14/mo |
| 20% down | $1,567.19/mo |
| 25% down | $1,469.24/mo |
| 30% down | $1,371.29/mo |
| 35% down | $1,273.34/mo |
| 40% down | $1,175.39/mo |
| 45% down | $1,077.44/mo |
| 50% down | $979.49/mo |
$530,000 Home at 4%
| 0% down | $2,530.30/mo |
| 5% down | $2,403.79/mo |
| 10% down | $2,277.27/mo |
| 15% down | $2,150.76/mo |
| 20% down | $2,024.24/mo |
| 25% down | $1,897.73/mo |
| 30% down | $1,771.21/mo |
| 35% down | $1,644.70/mo |
| 40% down | $1,518.18/mo |
| 45% down | $1,391.67/mo |
| 50% down | $1,265.15/mo |
$530,000 Home at 6%
| 0% down | $3,177.62/mo |
| 5% down | $3,018.74/mo |
| 10% down | $2,859.86/mo |
| 15% down | $2,700.98/mo |
| 20% down | $2,542.09/mo |
| 25% down | $2,383.21/mo |
| 30% down | $2,224.33/mo |
| 35% down | $2,065.45/mo |
| 40% down | $1,906.57/mo |
| 45% down | $1,747.69/mo |
| 50% down | $1,588.81/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.