Use the mortgage calculator to calculate the cost of buying a $531k 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 531,000 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 $531,000 house.
$531,000 Home at 2%
| 0% down | $1,962.68/mo |
| 5% down | $1,864.55/mo |
| 10% down | $1,766.41/mo |
| 15% down | $1,668.28/mo |
| 20% down | $1,570.14/mo |
| 25% down | $1,472.01/mo |
| 30% down | $1,373.88/mo |
| 35% down | $1,275.74/mo |
| 40% down | $1,177.61/mo |
| 45% down | $1,079.47/mo |
| 50% down | $981.34/mo |
$531,000 Home at 4%
| 0% down | $2,535.08/mo |
| 5% down | $2,408.32/mo |
| 10% down | $2,281.57/mo |
| 15% down | $2,154.81/mo |
| 20% down | $2,028.06/mo |
| 25% down | $1,901.31/mo |
| 30% down | $1,774.55/mo |
| 35% down | $1,647.80/mo |
| 40% down | $1,521.05/mo |
| 45% down | $1,394.29/mo |
| 50% down | $1,267.54/mo |
$531,000 Home at 6%
| 0% down | $3,183.61/mo |
| 5% down | $3,024.43/mo |
| 10% down | $2,865.25/mo |
| 15% down | $2,706.07/mo |
| 20% down | $2,546.89/mo |
| 25% down | $2,387.71/mo |
| 30% down | $2,228.53/mo |
| 35% down | $2,069.35/mo |
| 40% down | $1,910.17/mo |
| 45% down | $1,750.99/mo |
| 50% down | $1,591.81/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.