Use the mortgage calculator to calculate the cost of buying a $100k 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 100,000 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 $100,000 house.
$100,000 Home at 2%
| 0% down | $369.62/mo |
| 5% down | $351.14/mo |
| 10% down | $332.66/mo |
| 15% down | $314.18/mo |
| 20% down | $295.70/mo |
| 25% down | $277.21/mo |
| 30% down | $258.73/mo |
| 35% down | $240.25/mo |
| 40% down | $221.77/mo |
| 45% down | $203.29/mo |
| 50% down | $184.81/mo |
$100,000 Home at 4%
| 0% down | $477.42/mo |
| 5% down | $453.54/mo |
| 10% down | $429.67/mo |
| 15% down | $405.80/mo |
| 20% down | $381.93/mo |
| 25% down | $358.06/mo |
| 30% down | $334.19/mo |
| 35% down | $310.32/mo |
| 40% down | $286.45/mo |
| 45% down | $262.58/mo |
| 50% down | $238.71/mo |
$100,000 Home at 6%
| 0% down | $599.55/mo |
| 5% down | $569.57/mo |
| 10% down | $539.60/mo |
| 15% down | $509.62/mo |
| 20% down | $479.64/mo |
| 25% down | $449.66/mo |
| 30% down | $419.69/mo |
| 35% down | $389.71/mo |
| 40% down | $359.73/mo |
| 45% down | $329.75/mo |
| 50% down | $299.78/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.