Use the mortgage calculator to calculate the cost of buying a $107k 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 107,000 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 $107,000 house.
2% interest
| 0% down | $395.49/mo |
| 5% down | $375.72/mo |
| 10% down | $355.94/mo |
| 15% down | $336.17/mo |
| 20% down | $316.39/mo |
| 25% down | $296.62/mo |
| 30% down | $276.84/mo |
| 35% down | $257.07/mo |
| 40% down | $237.30/mo |
| 45% down | $217.52/mo |
| 50% down | $197.75/mo |
4% interest
| 0% down | $510.83/mo |
| 5% down | $485.29/mo |
| 10% down | $459.75/mo |
| 15% down | $434.21/mo |
| 20% down | $408.67/mo |
| 25% down | $383.13/mo |
| 30% down | $357.58/mo |
| 35% down | $332.04/mo |
| 40% down | $306.50/mo |
| 45% down | $280.96/mo |
| 50% down | $255.42/mo |
6% interest
| 0% down | $641.52/mo |
| 5% down | $609.44/mo |
| 10% down | $577.37/mo |
| 15% down | $545.29/mo |
| 20% down | $513.22/mo |
| 25% down | $481.14/mo |
| 30% down | $449.06/mo |
| 35% down | $416.99/mo |
| 40% down | $384.91/mo |
| 45% down | $352.84/mo |
| 50% down | $320.76/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.