Use the mortgage calculator to calculate the cost of buying a $623k 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 623,000 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 $623,000 house.
$623,000 Home at 2%
| 0% down | $2,302.73/mo |
| 5% down | $2,187.59/mo |
| 10% down | $2,072.46/mo |
| 15% down | $1,957.32/mo |
| 20% down | $1,842.18/mo |
| 25% down | $1,727.05/mo |
| 30% down | $1,611.91/mo |
| 35% down | $1,496.77/mo |
| 40% down | $1,381.64/mo |
| 45% down | $1,266.50/mo |
| 50% down | $1,151.36/mo |
$623,000 Home at 4%
| 0% down | $2,974.30/mo |
| 5% down | $2,825.58/mo |
| 10% down | $2,676.87/mo |
| 15% down | $2,528.15/mo |
| 20% down | $2,379.44/mo |
| 25% down | $2,230.72/mo |
| 30% down | $2,082.01/mo |
| 35% down | $1,933.29/mo |
| 40% down | $1,784.58/mo |
| 45% down | $1,635.86/mo |
| 50% down | $1,487.15/mo |
$623,000 Home at 6%
| 0% down | $3,735.20/mo |
| 5% down | $3,548.44/mo |
| 10% down | $3,361.68/mo |
| 15% down | $3,174.92/mo |
| 20% down | $2,988.16/mo |
| 25% down | $2,801.40/mo |
| 30% down | $2,614.64/mo |
| 35% down | $2,427.88/mo |
| 40% down | $2,241.12/mo |
| 45% down | $2,054.36/mo |
| 50% down | $1,867.60/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.