Use the mortgage calculator to calculate the cost of buying a $174k 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 174,000 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 $174,000 house.
2% interest
| 0% down | $643.14/mo |
| 5% down | $610.98/mo |
| 10% down | $578.82/mo |
| 15% down | $546.67/mo |
| 20% down | $514.51/mo |
| 25% down | $482.35/mo |
| 30% down | $450.20/mo |
| 35% down | $418.04/mo |
| 40% down | $385.88/mo |
| 45% down | $353.73/mo |
| 50% down | $321.57/mo |
4% interest
| 0% down | $830.70/mo |
| 5% down | $789.17/mo |
| 10% down | $747.63/mo |
| 15% down | $706.10/mo |
| 20% down | $664.56/mo |
| 25% down | $623.03/mo |
| 30% down | $581.49/mo |
| 35% down | $539.96/mo |
| 40% down | $498.42/mo |
| 45% down | $456.89/mo |
| 50% down | $415.35/mo |
6% interest
| 0% down | $1,043.22/mo |
| 5% down | $991.06/mo |
| 10% down | $938.90/mo |
| 15% down | $886.74/mo |
| 20% down | $834.57/mo |
| 25% down | $782.41/mo |
| 30% down | $730.25/mo |
| 35% down | $678.09/mo |
| 40% down | $625.93/mo |
| 45% down | $573.77/mo |
| 50% down | $521.61/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.