Use the mortgage calculator to calculate the cost of buying a $108k 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 108,000 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 $108,000 house.
$108,000 Home at 2%
| 0% down | $399.19/mo |
| 5% down | $379.23/mo |
| 10% down | $359.27/mo |
| 15% down | $339.31/mo |
| 20% down | $319.35/mo |
| 25% down | $299.39/mo |
| 30% down | $279.43/mo |
| 35% down | $259.47/mo |
| 40% down | $239.51/mo |
| 45% down | $219.55/mo |
| 50% down | $199.59/mo |
$108,000 Home at 4%
| 0% down | $515.61/mo |
| 5% down | $489.83/mo |
| 10% down | $464.05/mo |
| 15% down | $438.27/mo |
| 20% down | $412.49/mo |
| 25% down | $386.71/mo |
| 30% down | $360.93/mo |
| 35% down | $335.15/mo |
| 40% down | $309.37/mo |
| 45% down | $283.58/mo |
| 50% down | $257.80/mo |
$108,000 Home at 6%
| 0% down | $647.51/mo |
| 5% down | $615.14/mo |
| 10% down | $582.76/mo |
| 15% down | $550.39/mo |
| 20% down | $518.01/mo |
| 25% down | $485.64/mo |
| 30% down | $453.26/mo |
| 35% down | $420.88/mo |
| 40% down | $388.51/mo |
| 45% down | $356.13/mo |
| 50% down | $323.76/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.