Use the mortgage calculator to calculate the cost of buying a $114k 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 114,000 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 $114,000 house.
$114,000 Home at 2%
| 0% down | $421.37/mo |
| 5% down | $400.30/mo |
| 10% down | $379.23/mo |
| 15% down | $358.16/mo |
| 20% down | $337.09/mo |
| 25% down | $316.02/mo |
| 30% down | $294.96/mo |
| 35% down | $273.89/mo |
| 40% down | $252.82/mo |
| 45% down | $231.75/mo |
| 50% down | $210.68/mo |
$114,000 Home at 4%
| 0% down | $544.25/mo |
| 5% down | $517.04/mo |
| 10% down | $489.83/mo |
| 15% down | $462.62/mo |
| 20% down | $435.40/mo |
| 25% down | $408.19/mo |
| 30% down | $380.98/mo |
| 35% down | $353.76/mo |
| 40% down | $326.55/mo |
| 45% down | $299.34/mo |
| 50% down | $272.13/mo |
$114,000 Home at 6%
| 0% down | $683.49/mo |
| 5% down | $649.31/mo |
| 10% down | $615.14/mo |
| 15% down | $580.96/mo |
| 20% down | $546.79/mo |
| 25% down | $512.62/mo |
| 30% down | $478.44/mo |
| 35% down | $444.27/mo |
| 40% down | $410.09/mo |
| 45% down | $375.92/mo |
| 50% down | $341.74/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.