Use the mortgage calculator to calculate the cost of buying a $998k 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 998,000 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 $998,000 house.
$998,000 Home at 2%
| 0% down | $3,688.80/mo |
| 5% down | $3,504.36/mo |
| 10% down | $3,319.92/mo |
| 15% down | $3,135.48/mo |
| 20% down | $2,951.04/mo |
| 25% down | $2,766.60/mo |
| 30% down | $2,582.16/mo |
| 35% down | $2,397.72/mo |
| 40% down | $2,213.28/mo |
| 45% down | $2,028.84/mo |
| 50% down | $1,844.40/mo |
$998,000 Home at 4%
| 0% down | $4,764.60/mo |
| 5% down | $4,526.37/mo |
| 10% down | $4,288.14/mo |
| 15% down | $4,049.91/mo |
| 20% down | $3,811.68/mo |
| 25% down | $3,573.45/mo |
| 30% down | $3,335.22/mo |
| 35% down | $3,096.99/mo |
| 40% down | $2,858.76/mo |
| 45% down | $2,620.53/mo |
| 50% down | $2,382.30/mo |
$998,000 Home at 6%
| 0% down | $5,983.51/mo |
| 5% down | $5,684.34/mo |
| 10% down | $5,385.16/mo |
| 15% down | $5,085.99/mo |
| 20% down | $4,786.81/mo |
| 25% down | $4,487.64/mo |
| 30% down | $4,188.46/mo |
| 35% down | $3,889.28/mo |
| 40% down | $3,590.11/mo |
| 45% down | $3,290.93/mo |
| 50% down | $2,991.76/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.