Use the mortgage calculator to calculate the cost of buying a $96k 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 96,000 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 $96,000 house.
$96,000 Home at 2%
| 0% down | $354.83/mo |
| 5% down | $337.09/mo |
| 10% down | $319.35/mo |
| 15% down | $301.61/mo |
| 20% down | $283.87/mo |
| 25% down | $266.13/mo |
| 30% down | $248.38/mo |
| 35% down | $230.64/mo |
| 40% down | $212.90/mo |
| 45% down | $195.16/mo |
| 50% down | $177.42/mo |
$96,000 Home at 4%
| 0% down | $458.32/mo |
| 5% down | $435.40/mo |
| 10% down | $412.49/mo |
| 15% down | $389.57/mo |
| 20% down | $366.65/mo |
| 25% down | $343.74/mo |
| 30% down | $320.82/mo |
| 35% down | $297.91/mo |
| 40% down | $274.99/mo |
| 45% down | $252.08/mo |
| 50% down | $229.16/mo |
$96,000 Home at 6%
| 0% down | $575.57/mo |
| 5% down | $546.79/mo |
| 10% down | $518.01/mo |
| 15% down | $489.23/mo |
| 20% down | $460.45/mo |
| 25% down | $431.68/mo |
| 30% down | $402.90/mo |
| 35% down | $374.12/mo |
| 40% down | $345.34/mo |
| 45% down | $316.56/mo |
| 50% down | $287.78/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.