Use the mortgage calculator to calculate the cost of buying a $555k 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 555,000 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 $555,000 house.
$555,000 Home at 2%
| 0% down | $2,051.39/mo |
| 5% down | $1,948.82/mo |
| 10% down | $1,846.25/mo |
| 15% down | $1,743.68/mo |
| 20% down | $1,641.11/mo |
| 25% down | $1,538.54/mo |
| 30% down | $1,435.97/mo |
| 35% down | $1,333.40/mo |
| 40% down | $1,230.83/mo |
| 45% down | $1,128.26/mo |
| 50% down | $1,025.69/mo |
$555,000 Home at 4%
| 0% down | $2,649.65/mo |
| 5% down | $2,517.17/mo |
| 10% down | $2,384.69/mo |
| 15% down | $2,252.21/mo |
| 20% down | $2,119.72/mo |
| 25% down | $1,987.24/mo |
| 30% down | $1,854.76/mo |
| 35% down | $1,722.28/mo |
| 40% down | $1,589.79/mo |
| 45% down | $1,457.31/mo |
| 50% down | $1,324.83/mo |
$555,000 Home at 6%
| 0% down | $3,327.51/mo |
| 5% down | $3,161.13/mo |
| 10% down | $2,994.75/mo |
| 15% down | $2,828.38/mo |
| 20% down | $2,662.00/mo |
| 25% down | $2,495.63/mo |
| 30% down | $2,329.25/mo |
| 35% down | $2,162.88/mo |
| 40% down | $1,996.50/mo |
| 45% down | $1,830.13/mo |
| 50% down | $1,663.75/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.