Use the mortgage calculator to calculate the cost of buying a $702k 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 702,000 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 $702,000 house.
$702,000 Home at 2%
| 0% down | $2,594.73/mo |
| 5% down | $2,464.99/mo |
| 10% down | $2,335.26/mo |
| 15% down | $2,205.52/mo |
| 20% down | $2,075.78/mo |
| 25% down | $1,946.05/mo |
| 30% down | $1,816.31/mo |
| 35% down | $1,686.57/mo |
| 40% down | $1,556.84/mo |
| 45% down | $1,427.10/mo |
| 50% down | $1,297.36/mo |
$702,000 Home at 4%
| 0% down | $3,351.46/mo |
| 5% down | $3,183.88/mo |
| 10% down | $3,016.31/mo |
| 15% down | $2,848.74/mo |
| 20% down | $2,681.16/mo |
| 25% down | $2,513.59/mo |
| 30% down | $2,346.02/mo |
| 35% down | $2,178.45/mo |
| 40% down | $2,010.87/mo |
| 45% down | $1,843.30/mo |
| 50% down | $1,675.73/mo |
$702,000 Home at 6%
| 0% down | $4,208.84/mo |
| 5% down | $3,998.40/mo |
| 10% down | $3,787.96/mo |
| 15% down | $3,577.52/mo |
| 20% down | $3,367.08/mo |
| 25% down | $3,156.63/mo |
| 30% down | $2,946.19/mo |
| 35% down | $2,735.75/mo |
| 40% down | $2,525.31/mo |
| 45% down | $2,314.86/mo |
| 50% down | $2,104.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.