Use the mortgage calculator to calculate the cost of buying a $89k 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 89,000 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 $89,000 house.
$89,000 Home at 2%
| 0% down | $328.96/mo |
| 5% down | $312.51/mo |
| 10% down | $296.07/mo |
| 15% down | $279.62/mo |
| 20% down | $263.17/mo |
| 25% down | $246.72/mo |
| 30% down | $230.27/mo |
| 35% down | $213.82/mo |
| 40% down | $197.38/mo |
| 45% down | $180.93/mo |
| 50% down | $164.48/mo |
$89,000 Home at 4%
| 0% down | $424.90/mo |
| 5% down | $403.65/mo |
| 10% down | $382.41/mo |
| 15% down | $361.16/mo |
| 20% down | $339.92/mo |
| 25% down | $318.67/mo |
| 30% down | $297.43/mo |
| 35% down | $276.18/mo |
| 40% down | $254.94/mo |
| 45% down | $233.69/mo |
| 50% down | $212.45/mo |
$89,000 Home at 6%
| 0% down | $533.60/mo |
| 5% down | $506.92/mo |
| 10% down | $480.24/mo |
| 15% down | $453.56/mo |
| 20% down | $426.88/mo |
| 25% down | $400.20/mo |
| 30% down | $373.52/mo |
| 35% down | $346.84/mo |
| 40% down | $320.16/mo |
| 45% down | $293.48/mo |
| 50% down | $266.80/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.