Use the mortgage calculator to calculate the cost of buying a $704k 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 704,000 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 $704,000 house.
$704,000 Home at 2%
| 0% down | $2,602.12/mo |
| 5% down | $2,472.02/mo |
| 10% down | $2,341.91/mo |
| 15% down | $2,211.80/mo |
| 20% down | $2,081.70/mo |
| 25% down | $1,951.59/mo |
| 30% down | $1,821.48/mo |
| 35% down | $1,691.38/mo |
| 40% down | $1,561.27/mo |
| 45% down | $1,431.17/mo |
| 50% down | $1,301.06/mo |
$704,000 Home at 4%
| 0% down | $3,361.00/mo |
| 5% down | $3,192.95/mo |
| 10% down | $3,024.90/mo |
| 15% down | $2,856.85/mo |
| 20% down | $2,688.80/mo |
| 25% down | $2,520.75/mo |
| 30% down | $2,352.70/mo |
| 35% down | $2,184.65/mo |
| 40% down | $2,016.60/mo |
| 45% down | $1,848.55/mo |
| 50% down | $1,680.50/mo |
$704,000 Home at 6%
| 0% down | $4,220.84/mo |
| 5% down | $4,009.79/mo |
| 10% down | $3,798.75/mo |
| 15% down | $3,587.71/mo |
| 20% down | $3,376.67/mo |
| 25% down | $3,165.63/mo |
| 30% down | $2,954.58/mo |
| 35% down | $2,743.54/mo |
| 40% down | $2,532.50/mo |
| 45% down | $2,321.46/mo |
| 50% down | $2,110.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.