Use the mortgage calculator to calculate the cost of buying a $61k 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 61,000 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 $61,000 house.
$61,000 Home at 2%
| 0% down | $225.47/mo |
| 5% down | $214.19/mo |
| 10% down | $202.92/mo |
| 15% down | $191.65/mo |
| 20% down | $180.37/mo |
| 25% down | $169.10/mo |
| 30% down | $157.83/mo |
| 35% down | $146.55/mo |
| 40% down | $135.28/mo |
| 45% down | $124.01/mo |
| 50% down | $112.73/mo |
$61,000 Home at 4%
| 0% down | $291.22/mo |
| 5% down | $276.66/mo |
| 10% down | $262.10/mo |
| 15% down | $247.54/mo |
| 20% down | $232.98/mo |
| 25% down | $218.42/mo |
| 30% down | $203.86/mo |
| 35% down | $189.30/mo |
| 40% down | $174.73/mo |
| 45% down | $160.17/mo |
| 50% down | $145.61/mo |
$61,000 Home at 6%
| 0% down | $365.73/mo |
| 5% down | $347.44/mo |
| 10% down | $329.15/mo |
| 15% down | $310.87/mo |
| 20% down | $292.58/mo |
| 25% down | $274.29/mo |
| 30% down | $256.01/mo |
| 35% down | $237.72/mo |
| 40% down | $219.44/mo |
| 45% down | $201.15/mo |
| 50% down | $182.86/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.