Use the mortgage calculator to calculate the cost of buying a $996k 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 996,000 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 $996,000 house.
$996,000 Home at 2%
| 0% down | $3,681.41/mo |
| 5% down | $3,497.34/mo |
| 10% down | $3,313.27/mo |
| 15% down | $3,129.20/mo |
| 20% down | $2,945.13/mo |
| 25% down | $2,761.06/mo |
| 30% down | $2,576.99/mo |
| 35% down | $2,392.92/mo |
| 40% down | $2,208.85/mo |
| 45% down | $2,024.78/mo |
| 50% down | $1,840.70/mo |
$996,000 Home at 4%
| 0% down | $4,755.06/mo |
| 5% down | $4,517.30/mo |
| 10% down | $4,279.55/mo |
| 15% down | $4,041.80/mo |
| 20% down | $3,804.05/mo |
| 25% down | $3,566.29/mo |
| 30% down | $3,328.54/mo |
| 35% down | $3,090.79/mo |
| 40% down | $2,853.03/mo |
| 45% down | $2,615.28/mo |
| 50% down | $2,377.53/mo |
$996,000 Home at 6%
| 0% down | $5,971.52/mo |
| 5% down | $5,672.95/mo |
| 10% down | $5,374.37/mo |
| 15% down | $5,075.79/mo |
| 20% down | $4,777.22/mo |
| 25% down | $4,478.64/mo |
| 30% down | $4,180.07/mo |
| 35% down | $3,881.49/mo |
| 40% down | $3,582.91/mo |
| 45% down | $3,284.34/mo |
| 50% down | $2,985.76/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.