Use the mortgage calculator to calculate the cost of buying a $560k 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 560,000 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 $560,000 house.
$560,000 Home at 2%
| 0% down | $2,069.87/mo |
| 5% down | $1,966.38/mo |
| 10% down | $1,862.88/mo |
| 15% down | $1,759.39/mo |
| 20% down | $1,655.90/mo |
| 25% down | $1,552.40/mo |
| 30% down | $1,448.91/mo |
| 35% down | $1,345.41/mo |
| 40% down | $1,241.92/mo |
| 45% down | $1,138.43/mo |
| 50% down | $1,034.93/mo |
$560,000 Home at 4%
| 0% down | $2,673.53/mo |
| 5% down | $2,539.85/mo |
| 10% down | $2,406.17/mo |
| 15% down | $2,272.50/mo |
| 20% down | $2,138.82/mo |
| 25% down | $2,005.14/mo |
| 30% down | $1,871.47/mo |
| 35% down | $1,737.79/mo |
| 40% down | $1,604.12/mo |
| 45% down | $1,470.44/mo |
| 50% down | $1,336.76/mo |
$560,000 Home at 6%
| 0% down | $3,357.48/mo |
| 5% down | $3,189.61/mo |
| 10% down | $3,021.73/mo |
| 15% down | $2,853.86/mo |
| 20% down | $2,685.99/mo |
| 25% down | $2,518.11/mo |
| 30% down | $2,350.24/mo |
| 35% down | $2,182.36/mo |
| 40% down | $2,014.49/mo |
| 45% down | $1,846.62/mo |
| 50% down | $1,678.74/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.