Use the mortgage calculator to calculate the cost of buying a $540k 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 540,000 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 $540,000 house.
$540,000 Home at 2%
| 0% down | $1,995.95/mo |
| 5% down | $1,896.15/mo |
| 10% down | $1,796.35/mo |
| 15% down | $1,696.55/mo |
| 20% down | $1,596.76/mo |
| 25% down | $1,496.96/mo |
| 30% down | $1,397.16/mo |
| 35% down | $1,297.36/mo |
| 40% down | $1,197.57/mo |
| 45% down | $1,097.77/mo |
| 50% down | $997.97/mo |
$540,000 Home at 4%
| 0% down | $2,578.04/mo |
| 5% down | $2,449.14/mo |
| 10% down | $2,320.24/mo |
| 15% down | $2,191.34/mo |
| 20% down | $2,062.43/mo |
| 25% down | $1,933.53/mo |
| 30% down | $1,804.63/mo |
| 35% down | $1,675.73/mo |
| 40% down | $1,546.83/mo |
| 45% down | $1,417.92/mo |
| 50% down | $1,289.02/mo |
$540,000 Home at 6%
| 0% down | $3,237.57/mo |
| 5% down | $3,075.69/mo |
| 10% down | $2,913.82/mo |
| 15% down | $2,751.94/mo |
| 20% down | $2,590.06/mo |
| 25% down | $2,428.18/mo |
| 30% down | $2,266.30/mo |
| 35% down | $2,104.42/mo |
| 40% down | $1,942.54/mo |
| 45% down | $1,780.67/mo |
| 50% down | $1,618.79/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.