Use the mortgage calculator to calculate the cost of buying a $65k 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 65,000 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 $65,000 house.
$65,000 Home at 2%
| 0% down | $240.25/mo |
| 5% down | $228.24/mo |
| 10% down | $216.23/mo |
| 15% down | $204.21/mo |
| 20% down | $192.20/mo |
| 25% down | $180.19/mo |
| 30% down | $168.18/mo |
| 35% down | $156.16/mo |
| 40% down | $144.15/mo |
| 45% down | $132.14/mo |
| 50% down | $120.13/mo |
$65,000 Home at 4%
| 0% down | $310.32/mo |
| 5% down | $294.80/mo |
| 10% down | $279.29/mo |
| 15% down | $263.77/mo |
| 20% down | $248.26/mo |
| 25% down | $232.74/mo |
| 30% down | $217.22/mo |
| 35% down | $201.71/mo |
| 40% down | $186.19/mo |
| 45% down | $170.68/mo |
| 50% down | $155.16/mo |
$65,000 Home at 6%
| 0% down | $389.71/mo |
| 5% down | $370.22/mo |
| 10% down | $350.74/mo |
| 15% down | $331.25/mo |
| 20% down | $311.77/mo |
| 25% down | $292.28/mo |
| 30% down | $272.80/mo |
| 35% down | $253.31/mo |
| 40% down | $233.82/mo |
| 45% down | $214.34/mo |
| 50% down | $194.85/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.