Use the mortgage calculator to calculate the cost of buying a $538k 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 538,000 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 $538,000 house.
$538,000 Home at 2%
| 0% down | $1,988.55/mo |
| 5% down | $1,889.13/mo |
| 10% down | $1,789.70/mo |
| 15% down | $1,690.27/mo |
| 20% down | $1,590.84/mo |
| 25% down | $1,491.41/mo |
| 30% down | $1,391.99/mo |
| 35% down | $1,292.56/mo |
| 40% down | $1,193.13/mo |
| 45% down | $1,093.70/mo |
| 50% down | $994.28/mo |
$538,000 Home at 4%
| 0% down | $2,568.49/mo |
| 5% down | $2,440.07/mo |
| 10% down | $2,311.64/mo |
| 15% down | $2,183.22/mo |
| 20% down | $2,054.80/mo |
| 25% down | $1,926.37/mo |
| 30% down | $1,797.95/mo |
| 35% down | $1,669.52/mo |
| 40% down | $1,541.10/mo |
| 45% down | $1,412.67/mo |
| 50% down | $1,284.25/mo |
$538,000 Home at 6%
| 0% down | $3,225.58/mo |
| 5% down | $3,064.30/mo |
| 10% down | $2,903.02/mo |
| 15% down | $2,741.74/mo |
| 20% down | $2,580.47/mo |
| 25% down | $2,419.19/mo |
| 30% down | $2,257.91/mo |
| 35% down | $2,096.63/mo |
| 40% down | $1,935.35/mo |
| 45% down | $1,774.07/mo |
| 50% down | $1,612.79/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.