Use the mortgage calculator to calculate the cost of buying a $870k 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 870,000 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 $870,000 house.
$870,000 Home at 2%
| 0% down | $3,215.69/mo |
| 5% down | $3,054.90/mo |
| 10% down | $2,894.12/mo |
| 15% down | $2,733.34/mo |
| 20% down | $2,572.55/mo |
| 25% down | $2,411.77/mo |
| 30% down | $2,250.98/mo |
| 35% down | $2,090.20/mo |
| 40% down | $1,929.41/mo |
| 45% down | $1,768.63/mo |
| 50% down | $1,607.84/mo |
$870,000 Home at 4%
| 0% down | $4,153.51/mo |
| 5% down | $3,945.84/mo |
| 10% down | $3,738.16/mo |
| 15% down | $3,530.49/mo |
| 20% down | $3,322.81/mo |
| 25% down | $3,115.13/mo |
| 30% down | $2,907.46/mo |
| 35% down | $2,699.78/mo |
| 40% down | $2,492.11/mo |
| 45% down | $2,284.43/mo |
| 50% down | $2,076.76/mo |
$870,000 Home at 6%
| 0% down | $5,216.09/mo |
| 5% down | $4,955.29/mo |
| 10% down | $4,694.48/mo |
| 15% down | $4,433.68/mo |
| 20% down | $4,172.87/mo |
| 25% down | $3,912.07/mo |
| 30% down | $3,651.26/mo |
| 35% down | $3,390.46/mo |
| 40% down | $3,129.65/mo |
| 45% down | $2,868.85/mo |
| 50% down | $2,608.04/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.