Use the mortgage calculator to calculate the cost of buying a $687k 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 687,000 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 $687,000 house.
$687,000 Home at 2%
| 0% down | $2,539.29/mo |
| 5% down | $2,412.32/mo |
| 10% down | $2,285.36/mo |
| 15% down | $2,158.39/mo |
| 20% down | $2,031.43/mo |
| 25% down | $1,904.46/mo |
| 30% down | $1,777.50/mo |
| 35% down | $1,650.54/mo |
| 40% down | $1,523.57/mo |
| 45% down | $1,396.61/mo |
| 50% down | $1,269.64/mo |
$687,000 Home at 4%
| 0% down | $3,279.84/mo |
| 5% down | $3,115.85/mo |
| 10% down | $2,951.86/mo |
| 15% down | $2,787.87/mo |
| 20% down | $2,623.87/mo |
| 25% down | $2,459.88/mo |
| 30% down | $2,295.89/mo |
| 35% down | $2,131.90/mo |
| 40% down | $1,967.91/mo |
| 45% down | $1,803.91/mo |
| 50% down | $1,639.92/mo |
$687,000 Home at 6%
| 0% down | $4,118.91/mo |
| 5% down | $3,912.97/mo |
| 10% down | $3,707.02/mo |
| 15% down | $3,501.08/mo |
| 20% down | $3,295.13/mo |
| 25% down | $3,089.18/mo |
| 30% down | $2,883.24/mo |
| 35% down | $2,677.29/mo |
| 40% down | $2,471.35/mo |
| 45% down | $2,265.40/mo |
| 50% down | $2,059.46/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.