Use the mortgage calculator to calculate the cost of buying a $17k 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 17,000 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 $17,000 house.
$17,000 Home at 2%
| 0% down | $62.84/mo |
| 5% down | $59.69/mo |
| 10% down | $56.55/mo |
| 15% down | $53.41/mo |
| 20% down | $50.27/mo |
| 25% down | $47.13/mo |
| 30% down | $43.98/mo |
| 35% down | $40.84/mo |
| 40% down | $37.70/mo |
| 45% down | $34.56/mo |
| 50% down | $31.42/mo |
$17,000 Home at 4%
| 0% down | $81.16/mo |
| 5% down | $77.10/mo |
| 10% down | $73.04/mo |
| 15% down | $68.99/mo |
| 20% down | $64.93/mo |
| 25% down | $60.87/mo |
| 30% down | $56.81/mo |
| 35% down | $52.75/mo |
| 40% down | $48.70/mo |
| 45% down | $44.64/mo |
| 50% down | $40.58/mo |
$17,000 Home at 6%
| 0% down | $101.92/mo |
| 5% down | $96.83/mo |
| 10% down | $91.73/mo |
| 15% down | $86.64/mo |
| 20% down | $81.54/mo |
| 25% down | $76.44/mo |
| 30% down | $71.35/mo |
| 35% down | $66.25/mo |
| 40% down | $61.15/mo |
| 45% down | $56.06/mo |
| 50% down | $50.96/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.