Use the mortgage calculator to calculate the cost of buying a $164k 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 164,000 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 $164,000 house.
2% interest
| 0% down | $606.18/mo |
| 5% down | $575.87/mo |
| 10% down | $545.56/mo |
| 15% down | $515.25/mo |
| 20% down | $484.94/mo |
| 25% down | $454.63/mo |
| 30% down | $424.32/mo |
| 35% down | $394.01/mo |
| 40% down | $363.71/mo |
| 45% down | $333.40/mo |
| 50% down | $303.09/mo |
4% interest
| 0% down | $782.96/mo |
| 5% down | $743.81/mo |
| 10% down | $704.66/mo |
| 15% down | $665.52/mo |
| 20% down | $626.37/mo |
| 25% down | $587.22/mo |
| 30% down | $548.07/mo |
| 35% down | $508.92/mo |
| 40% down | $469.78/mo |
| 45% down | $430.63/mo |
| 50% down | $391.48/mo |
6% interest
| 0% down | $983.26/mo |
| 5% down | $934.10/mo |
| 10% down | $884.94/mo |
| 15% down | $835.77/mo |
| 20% down | $786.61/mo |
| 25% down | $737.45/mo |
| 30% down | $688.28/mo |
| 35% down | $639.12/mo |
| 40% down | $589.96/mo |
| 45% down | $540.79/mo |
| 50% down | $491.63/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.