Use the mortgage calculator to calculate the cost of buying a $175k 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 175,000 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 $175,000 house.
$175,000 Home at 2%
| 0% down | $646.83/mo |
| 5% down | $614.49/mo |
| 10% down | $582.15/mo |
| 15% down | $549.81/mo |
| 20% down | $517.47/mo |
| 25% down | $485.13/mo |
| 30% down | $452.78/mo |
| 35% down | $420.44/mo |
| 40% down | $388.10/mo |
| 45% down | $355.76/mo |
| 50% down | $323.42/mo |
$175,000 Home at 4%
| 0% down | $835.48/mo |
| 5% down | $793.70/mo |
| 10% down | $751.93/mo |
| 15% down | $710.16/mo |
| 20% down | $668.38/mo |
| 25% down | $626.61/mo |
| 30% down | $584.83/mo |
| 35% down | $543.06/mo |
| 40% down | $501.29/mo |
| 45% down | $459.51/mo |
| 50% down | $417.74/mo |
$175,000 Home at 6%
| 0% down | $1,049.21/mo |
| 5% down | $996.75/mo |
| 10% down | $944.29/mo |
| 15% down | $891.83/mo |
| 20% down | $839.37/mo |
| 25% down | $786.91/mo |
| 30% down | $734.45/mo |
| 35% down | $681.99/mo |
| 40% down | $629.53/mo |
| 45% down | $577.07/mo |
| 50% down | $524.61/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.