Use the mortgage calculator to calculate the cost of buying a $172k 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 172,000 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 $172,000 house.
2% interest
| 0% down | $635.75/mo |
| 5% down | $603.96/mo |
| 10% down | $572.17/mo |
| 15% down | $540.38/mo |
| 20% down | $508.60/mo |
| 25% down | $476.81/mo |
| 30% down | $445.02/mo |
| 35% down | $413.23/mo |
| 40% down | $381.45/mo |
| 45% down | $349.66/mo |
| 50% down | $317.87/mo |
4% interest
| 0% down | $821.15/mo |
| 5% down | $780.10/mo |
| 10% down | $739.04/mo |
| 15% down | $697.98/mo |
| 20% down | $656.92/mo |
| 25% down | $615.87/mo |
| 30% down | $574.81/mo |
| 35% down | $533.75/mo |
| 40% down | $492.69/mo |
| 45% down | $451.63/mo |
| 50% down | $410.58/mo |
6% interest
| 0% down | $1,031.23/mo |
| 5% down | $979.67/mo |
| 10% down | $928.10/mo |
| 15% down | $876.54/mo |
| 20% down | $824.98/mo |
| 25% down | $773.42/mo |
| 30% down | $721.86/mo |
| 35% down | $670.30/mo |
| 40% down | $618.74/mo |
| 45% down | $567.17/mo |
| 50% down | $515.61/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.