Use the mortgage calculator to calculate the cost of buying a $105k 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 105,000 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 $105,000 house.
$105,000 Home at 2%
| 0% down | $388.10/mo |
| 5% down | $368.70/mo |
| 10% down | $349.29/mo |
| 15% down | $329.89/mo |
| 20% down | $310.48/mo |
| 25% down | $291.08/mo |
| 30% down | $271.67/mo |
| 35% down | $252.27/mo |
| 40% down | $232.86/mo |
| 45% down | $213.46/mo |
| 50% down | $194.05/mo |
$105,000 Home at 4%
| 0% down | $501.29/mo |
| 5% down | $476.22/mo |
| 10% down | $451.16/mo |
| 15% down | $426.09/mo |
| 20% down | $401.03/mo |
| 25% down | $375.96/mo |
| 30% down | $350.90/mo |
| 35% down | $325.84/mo |
| 40% down | $300.77/mo |
| 45% down | $275.71/mo |
| 50% down | $250.64/mo |
$105,000 Home at 6%
| 0% down | $629.53/mo |
| 5% down | $598.05/mo |
| 10% down | $566.58/mo |
| 15% down | $535.10/mo |
| 20% down | $503.62/mo |
| 25% down | $472.15/mo |
| 30% down | $440.67/mo |
| 35% down | $409.19/mo |
| 40% down | $377.72/mo |
| 45% down | $346.24/mo |
| 50% down | $314.76/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.