Use the mortgage calculator to calculate the cost of buying a $167k 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 167,000 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 $167,000 house.
$167,000 Home at 2%
| 0% down | $617.26/mo |
| 5% down | $586.40/mo |
| 10% down | $555.54/mo |
| 15% down | $524.67/mo |
| 20% down | $493.81/mo |
| 25% down | $462.95/mo |
| 30% down | $432.09/mo |
| 35% down | $401.22/mo |
| 40% down | $370.36/mo |
| 45% down | $339.50/mo |
| 50% down | $308.63/mo |
$167,000 Home at 4%
| 0% down | $797.28/mo |
| 5% down | $757.42/mo |
| 10% down | $717.56/mo |
| 15% down | $677.69/mo |
| 20% down | $637.83/mo |
| 25% down | $597.96/mo |
| 30% down | $558.10/mo |
| 35% down | $518.23/mo |
| 40% down | $478.37/mo |
| 45% down | $438.51/mo |
| 50% down | $398.64/mo |
$167,000 Home at 6%
| 0% down | $1,001.25/mo |
| 5% down | $951.19/mo |
| 10% down | $901.12/mo |
| 15% down | $851.06/mo |
| 20% down | $801.00/mo |
| 25% down | $750.94/mo |
| 30% down | $700.87/mo |
| 35% down | $650.81/mo |
| 40% down | $600.75/mo |
| 45% down | $550.69/mo |
| 50% down | $500.62/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.