Use the mortgage calculator to calculate the cost of buying a $112k 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 112,000 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 $112,000 house.
$112,000 Home at 2%
| 0% down | $413.97/mo |
| 5% down | $393.28/mo |
| 10% down | $372.58/mo |
| 15% down | $351.88/mo |
| 20% down | $331.18/mo |
| 25% down | $310.48/mo |
| 30% down | $289.78/mo |
| 35% down | $269.08/mo |
| 40% down | $248.38/mo |
| 45% down | $227.69/mo |
| 50% down | $206.99/mo |
$112,000 Home at 4%
| 0% down | $534.71/mo |
| 5% down | $507.97/mo |
| 10% down | $481.23/mo |
| 15% down | $454.50/mo |
| 20% down | $427.76/mo |
| 25% down | $401.03/mo |
| 30% down | $374.29/mo |
| 35% down | $347.56/mo |
| 40% down | $320.82/mo |
| 45% down | $294.09/mo |
| 50% down | $267.35/mo |
$112,000 Home at 6%
| 0% down | $671.50/mo |
| 5% down | $637.92/mo |
| 10% down | $604.35/mo |
| 15% down | $570.77/mo |
| 20% down | $537.20/mo |
| 25% down | $503.62/mo |
| 30% down | $470.05/mo |
| 35% down | $436.47/mo |
| 40% down | $402.90/mo |
| 45% down | $369.32/mo |
| 50% down | $335.75/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.