Use the mortgage calculator to calculate the cost of buying a $703k 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 703,000 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 $703,000 house.
$703,000 Home at 2%
| 0% down | $2,598.42/mo |
| 5% down | $2,468.50/mo |
| 10% down | $2,338.58/mo |
| 15% down | $2,208.66/mo |
| 20% down | $2,078.74/mo |
| 25% down | $1,948.82/mo |
| 30% down | $1,818.90/mo |
| 35% down | $1,688.98/mo |
| 40% down | $1,559.05/mo |
| 45% down | $1,429.13/mo |
| 50% down | $1,299.21/mo |
$703,000 Home at 4%
| 0% down | $3,356.23/mo |
| 5% down | $3,188.42/mo |
| 10% down | $3,020.61/mo |
| 15% down | $2,852.80/mo |
| 20% down | $2,684.98/mo |
| 25% down | $2,517.17/mo |
| 30% down | $2,349.36/mo |
| 35% down | $2,181.55/mo |
| 40% down | $2,013.74/mo |
| 45% down | $1,845.93/mo |
| 50% down | $1,678.11/mo |
$703,000 Home at 6%
| 0% down | $4,214.84/mo |
| 5% down | $4,004.10/mo |
| 10% down | $3,793.36/mo |
| 15% down | $3,582.61/mo |
| 20% down | $3,371.87/mo |
| 25% down | $3,161.13/mo |
| 30% down | $2,950.39/mo |
| 35% down | $2,739.65/mo |
| 40% down | $2,528.90/mo |
| 45% down | $2,318.16/mo |
| 50% down | $2,107.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.