Use the mortgage calculator to calculate the cost of buying a $173k 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 173,000 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 $173,000 house.
2% interest
| 0% down | $639.44/mo |
| 5% down | $607.47/mo |
| 10% down | $575.50/mo |
| 15% down | $543.53/mo |
| 20% down | $511.55/mo |
| 25% down | $479.58/mo |
| 30% down | $447.61/mo |
| 35% down | $415.64/mo |
| 40% down | $383.67/mo |
| 45% down | $351.69/mo |
| 50% down | $319.72/mo |
4% interest
| 0% down | $825.93/mo |
| 5% down | $784.63/mo |
| 10% down | $743.34/mo |
| 15% down | $702.04/mo |
| 20% down | $660.74/mo |
| 25% down | $619.45/mo |
| 30% down | $578.15/mo |
| 35% down | $536.85/mo |
| 40% down | $495.56/mo |
| 45% down | $454.26/mo |
| 50% down | $412.96/mo |
6% interest
| 0% down | $1,037.22/mo |
| 5% down | $985.36/mo |
| 10% down | $933.50/mo |
| 15% down | $881.64/mo |
| 20% down | $829.78/mo |
| 25% down | $777.92/mo |
| 30% down | $726.06/mo |
| 35% down | $674.19/mo |
| 40% down | $622.33/mo |
| 45% down | $570.47/mo |
| 50% down | $518.61/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.