Use the mortgage calculator to calculate the cost of buying a $640k 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 640,000 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 $640,000 house.
$640,000 Home at 2%
| 0% down | $2,365.56/mo |
| 5% down | $2,247.29/mo |
| 10% down | $2,129.01/mo |
| 15% down | $2,010.73/mo |
| 20% down | $1,892.45/mo |
| 25% down | $1,774.17/mo |
| 30% down | $1,655.90/mo |
| 35% down | $1,537.62/mo |
| 40% down | $1,419.34/mo |
| 45% down | $1,301.06/mo |
| 50% down | $1,182.78/mo |
$640,000 Home at 4%
| 0% down | $3,055.46/mo |
| 5% down | $2,902.68/mo |
| 10% down | $2,749.91/mo |
| 15% down | $2,597.14/mo |
| 20% down | $2,444.37/mo |
| 25% down | $2,291.59/mo |
| 30% down | $2,138.82/mo |
| 35% down | $1,986.05/mo |
| 40% down | $1,833.27/mo |
| 45% down | $1,680.50/mo |
| 50% down | $1,527.73/mo |
$640,000 Home at 6%
| 0% down | $3,837.12/mo |
| 5% down | $3,645.27/mo |
| 10% down | $3,453.41/mo |
| 15% down | $3,261.55/mo |
| 20% down | $3,069.70/mo |
| 25% down | $2,877.84/mo |
| 30% down | $2,685.99/mo |
| 35% down | $2,494.13/mo |
| 40% down | $2,302.27/mo |
| 45% down | $2,110.42/mo |
| 50% down | $1,918.56/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.