Use the mortgage calculator to calculate the cost of buying a $126k 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 126,000 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 $126,000 house.
2% interest
| 0% down | $465.72/mo |
| 5% down | $442.43/mo |
| 10% down | $419.15/mo |
| 15% down | $395.86/mo |
| 20% down | $372.58/mo |
| 25% down | $349.29/mo |
| 30% down | $326.00/mo |
| 35% down | $302.72/mo |
| 40% down | $279.43/mo |
| 45% down | $256.15/mo |
| 50% down | $232.86/mo |
4% interest
| 0% down | $601.54/mo |
| 5% down | $571.47/mo |
| 10% down | $541.39/mo |
| 15% down | $511.31/mo |
| 20% down | $481.23/mo |
| 25% down | $451.16/mo |
| 30% down | $421.08/mo |
| 35% down | $391.00/mo |
| 40% down | $360.93/mo |
| 45% down | $330.85/mo |
| 50% down | $300.77/mo |
6% interest
| 0% down | $755.43/mo |
| 5% down | $717.66/mo |
| 10% down | $679.89/mo |
| 15% down | $642.12/mo |
| 20% down | $604.35/mo |
| 25% down | $566.58/mo |
| 30% down | $528.80/mo |
| 35% down | $491.03/mo |
| 40% down | $453.26/mo |
| 45% down | $415.49/mo |
| 50% down | $377.72/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.