Use the mortgage calculator to calculate the cost of buying a $111k 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 111,000 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 $111,000 house.
2% interest
| 0% down | $410.28/mo |
| 5% down | $389.76/mo |
| 10% down | $369.25/mo |
| 15% down | $348.74/mo |
| 20% down | $328.22/mo |
| 25% down | $307.71/mo |
| 30% down | $287.19/mo |
| 35% down | $266.68/mo |
| 40% down | $246.17/mo |
| 45% down | $225.65/mo |
| 50% down | $205.14/mo |
4% interest
| 0% down | $529.93/mo |
| 5% down | $503.43/mo |
| 10% down | $476.94/mo |
| 15% down | $450.44/mo |
| 20% down | $423.94/mo |
| 25% down | $397.45/mo |
| 30% down | $370.95/mo |
| 35% down | $344.46/mo |
| 40% down | $317.96/mo |
| 45% down | $291.46/mo |
| 50% down | $264.97/mo |
6% interest
| 0% down | $665.50/mo |
| 5% down | $632.23/mo |
| 10% down | $598.95/mo |
| 15% down | $565.68/mo |
| 20% down | $532.40/mo |
| 25% down | $499.13/mo |
| 30% down | $465.85/mo |
| 35% down | $432.58/mo |
| 40% down | $399.30/mo |
| 45% down | $366.03/mo |
| 50% down | $332.75/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.