Use the mortgage calculator to calculate the cost of buying a $880k 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 880,000 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 $880,000 house.
$880,000 Home at 2%
| 0% down | $3,252.65/mo |
| 5% down | $3,090.02/mo |
| 10% down | $2,927.39/mo |
| 15% down | $2,764.75/mo |
| 20% down | $2,602.12/mo |
| 25% down | $2,439.49/mo |
| 30% down | $2,276.86/mo |
| 35% down | $2,114.22/mo |
| 40% down | $1,951.59/mo |
| 45% down | $1,788.96/mo |
| 50% down | $1,626.33/mo |
$880,000 Home at 4%
| 0% down | $4,201.25/mo |
| 5% down | $3,991.19/mo |
| 10% down | $3,781.13/mo |
| 15% down | $3,571.07/mo |
| 20% down | $3,361.00/mo |
| 25% down | $3,150.94/mo |
| 30% down | $2,940.88/mo |
| 35% down | $2,730.82/mo |
| 40% down | $2,520.75/mo |
| 45% down | $2,310.69/mo |
| 50% down | $2,100.63/mo |
$880,000 Home at 6%
| 0% down | $5,276.04/mo |
| 5% down | $5,012.24/mo |
| 10% down | $4,748.44/mo |
| 15% down | $4,484.64/mo |
| 20% down | $4,220.84/mo |
| 25% down | $3,957.03/mo |
| 30% down | $3,693.23/mo |
| 35% down | $3,429.43/mo |
| 40% down | $3,165.63/mo |
| 45% down | $2,901.82/mo |
| 50% down | $2,638.02/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.