Use the mortgage calculator to calculate the cost of buying a $128k 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 128,000 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 $128,000 house.
$128,000 Home at 2%
| 0% down | $473.11/mo |
| 5% down | $449.46/mo |
| 10% down | $425.80/mo |
| 15% down | $402.15/mo |
| 20% down | $378.49/mo |
| 25% down | $354.83/mo |
| 30% down | $331.18/mo |
| 35% down | $307.52/mo |
| 40% down | $283.87/mo |
| 45% down | $260.21/mo |
| 50% down | $236.56/mo |
$128,000 Home at 4%
| 0% down | $611.09/mo |
| 5% down | $580.54/mo |
| 10% down | $549.98/mo |
| 15% down | $519.43/mo |
| 20% down | $488.87/mo |
| 25% down | $458.32/mo |
| 30% down | $427.76/mo |
| 35% down | $397.21/mo |
| 40% down | $366.65/mo |
| 45% down | $336.10/mo |
| 50% down | $305.55/mo |
$128,000 Home at 6%
| 0% down | $767.42/mo |
| 5% down | $729.05/mo |
| 10% down | $690.68/mo |
| 15% down | $652.31/mo |
| 20% down | $613.94/mo |
| 25% down | $575.57/mo |
| 30% down | $537.20/mo |
| 35% down | $498.83/mo |
| 40% down | $460.45/mo |
| 45% down | $422.08/mo |
| 50% down | $383.71/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.