Use the mortgage calculator to calculate the cost of buying a $59k 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 59,000 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 $59,000 house.
$59,000 Home at 2%
| 0% down | $218.08/mo |
| 5% down | $207.17/mo |
| 10% down | $196.27/mo |
| 15% down | $185.36/mo |
| 20% down | $174.46/mo |
| 25% down | $163.56/mo |
| 30% down | $152.65/mo |
| 35% down | $141.75/mo |
| 40% down | $130.85/mo |
| 45% down | $119.94/mo |
| 50% down | $109.04/mo |
$59,000 Home at 4%
| 0% down | $281.68/mo |
| 5% down | $267.59/mo |
| 10% down | $253.51/mo |
| 15% down | $239.42/mo |
| 20% down | $225.34/mo |
| 25% down | $211.26/mo |
| 30% down | $197.17/mo |
| 35% down | $183.09/mo |
| 40% down | $169.01/mo |
| 45% down | $154.92/mo |
| 50% down | $140.84/mo |
$59,000 Home at 6%
| 0% down | $353.73/mo |
| 5% down | $336.05/mo |
| 10% down | $318.36/mo |
| 15% down | $300.67/mo |
| 20% down | $282.99/mo |
| 25% down | $265.30/mo |
| 30% down | $247.61/mo |
| 35% down | $229.93/mo |
| 40% down | $212.24/mo |
| 45% down | $194.55/mo |
| 50% down | $176.87/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.