Use the mortgage calculator to calculate the cost of buying a $57k 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 57,000 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 $57,000 house.
$57,000 Home at 2%
| 0% down | $210.68/mo |
| 5% down | $200.15/mo |
| 10% down | $189.61/mo |
| 15% down | $179.08/mo |
| 20% down | $168.55/mo |
| 25% down | $158.01/mo |
| 30% down | $147.48/mo |
| 35% down | $136.94/mo |
| 40% down | $126.41/mo |
| 45% down | $115.88/mo |
| 50% down | $105.34/mo |
$57,000 Home at 4%
| 0% down | $272.13/mo |
| 5% down | $258.52/mo |
| 10% down | $244.91/mo |
| 15% down | $231.31/mo |
| 20% down | $217.70/mo |
| 25% down | $204.10/mo |
| 30% down | $190.49/mo |
| 35% down | $176.88/mo |
| 40% down | $163.28/mo |
| 45% down | $149.67/mo |
| 50% down | $136.06/mo |
$57,000 Home at 6%
| 0% down | $341.74/mo |
| 5% down | $324.66/mo |
| 10% down | $307.57/mo |
| 15% down | $290.48/mo |
| 20% down | $273.40/mo |
| 25% down | $256.31/mo |
| 30% down | $239.22/mo |
| 35% down | $222.13/mo |
| 40% down | $205.05/mo |
| 45% down | $187.96/mo |
| 50% down | $170.87/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.