Use the mortgage calculator to calculate the cost of buying a $159k 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 159,000 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 $159,000 house.
$159,000 Home at 2%
| 0% down | $587.69/mo |
| 5% down | $558.31/mo |
| 10% down | $528.93/mo |
| 15% down | $499.54/mo |
| 20% down | $470.16/mo |
| 25% down | $440.77/mo |
| 30% down | $411.39/mo |
| 35% down | $382.00/mo |
| 40% down | $352.62/mo |
| 45% down | $323.23/mo |
| 50% down | $293.85/mo |
$159,000 Home at 4%
| 0% down | $759.09/mo |
| 5% down | $721.14/mo |
| 10% down | $683.18/mo |
| 15% down | $645.23/mo |
| 20% down | $607.27/mo |
| 25% down | $569.32/mo |
| 30% down | $531.36/mo |
| 35% down | $493.41/mo |
| 40% down | $455.45/mo |
| 45% down | $417.50/mo |
| 50% down | $379.55/mo |
$159,000 Home at 6%
| 0% down | $953.29/mo |
| 5% down | $905.62/mo |
| 10% down | $857.96/mo |
| 15% down | $810.29/mo |
| 20% down | $762.63/mo |
| 25% down | $714.96/mo |
| 30% down | $667.30/mo |
| 35% down | $619.64/mo |
| 40% down | $571.97/mo |
| 45% down | $524.31/mo |
| 50% down | $476.64/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.