Use the mortgage calculator to calculate the cost of buying a $14k 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 14,000 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 $14,000 house.
$14,000 Home at 2%
| 0% down | $51.75/mo |
| 5% down | $49.16/mo |
| 10% down | $46.57/mo |
| 15% down | $43.98/mo |
| 20% down | $41.40/mo |
| 25% down | $38.81/mo |
| 30% down | $36.22/mo |
| 35% down | $33.64/mo |
| 40% down | $31.05/mo |
| 45% down | $28.46/mo |
| 50% down | $25.87/mo |
$14,000 Home at 4%
| 0% down | $66.84/mo |
| 5% down | $63.50/mo |
| 10% down | $60.15/mo |
| 15% down | $56.81/mo |
| 20% down | $53.47/mo |
| 25% down | $50.13/mo |
| 30% down | $46.79/mo |
| 35% down | $43.44/mo |
| 40% down | $40.10/mo |
| 45% down | $36.76/mo |
| 50% down | $33.42/mo |
$14,000 Home at 6%
| 0% down | $83.94/mo |
| 5% down | $79.74/mo |
| 10% down | $75.54/mo |
| 15% down | $71.35/mo |
| 20% down | $67.15/mo |
| 25% down | $62.95/mo |
| 30% down | $58.76/mo |
| 35% down | $54.56/mo |
| 40% down | $50.36/mo |
| 45% down | $46.17/mo |
| 50% down | $41.97/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.