Use the mortgage calculator to calculate the cost of buying a $123k 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 123,000 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 $123,000 house.
$123,000 Home at 2%
| 0% down | $454.63/mo |
| 5% down | $431.90/mo |
| 10% down | $409.17/mo |
| 15% down | $386.44/mo |
| 20% down | $363.71/mo |
| 25% down | $340.97/mo |
| 30% down | $318.24/mo |
| 35% down | $295.51/mo |
| 40% down | $272.78/mo |
| 45% down | $250.05/mo |
| 50% down | $227.32/mo |
$123,000 Home at 4%
| 0% down | $587.22/mo |
| 5% down | $557.86/mo |
| 10% down | $528.50/mo |
| 15% down | $499.14/mo |
| 20% down | $469.78/mo |
| 25% down | $440.42/mo |
| 30% down | $411.05/mo |
| 35% down | $381.69/mo |
| 40% down | $352.33/mo |
| 45% down | $322.97/mo |
| 50% down | $293.61/mo |
$123,000 Home at 6%
| 0% down | $737.45/mo |
| 5% down | $700.57/mo |
| 10% down | $663.70/mo |
| 15% down | $626.83/mo |
| 20% down | $589.96/mo |
| 25% down | $553.09/mo |
| 30% down | $516.21/mo |
| 35% down | $479.34/mo |
| 40% down | $442.47/mo |
| 45% down | $405.60/mo |
| 50% down | $368.72/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.