Use the mortgage calculator to calculate the cost of buying a $720k 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 720,000 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 $720,000 house.
$720,000 Home at 2%
| 0% down | $2,661.26/mo |
| 5% down | $2,528.20/mo |
| 10% down | $2,395.13/mo |
| 15% down | $2,262.07/mo |
| 20% down | $2,129.01/mo |
| 25% down | $1,995.95/mo |
| 30% down | $1,862.88/mo |
| 35% down | $1,729.82/mo |
| 40% down | $1,596.76/mo |
| 45% down | $1,463.69/mo |
| 50% down | $1,330.63/mo |
$720,000 Home at 4%
| 0% down | $3,437.39/mo |
| 5% down | $3,265.52/mo |
| 10% down | $3,093.65/mo |
| 15% down | $2,921.78/mo |
| 20% down | $2,749.91/mo |
| 25% down | $2,578.04/mo |
| 30% down | $2,406.17/mo |
| 35% down | $2,234.30/mo |
| 40% down | $2,062.43/mo |
| 45% down | $1,890.56/mo |
| 50% down | $1,718.70/mo |
$720,000 Home at 6%
| 0% down | $4,316.76/mo |
| 5% down | $4,100.93/mo |
| 10% down | $3,885.09/mo |
| 15% down | $3,669.25/mo |
| 20% down | $3,453.41/mo |
| 25% down | $3,237.57/mo |
| 30% down | $3,021.73/mo |
| 35% down | $2,805.90/mo |
| 40% down | $2,590.06/mo |
| 45% down | $2,374.22/mo |
| 50% down | $2,158.38/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.