Use the mortgage calculator to calculate the cost of buying a $187k 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 187,000 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 $187,000 house.
$187,000 Home at 2%
| 0% down | $691.19/mo |
| 5% down | $656.63/mo |
| 10% down | $622.07/mo |
| 15% down | $587.51/mo |
| 20% down | $552.95/mo |
| 25% down | $518.39/mo |
| 30% down | $483.83/mo |
| 35% down | $449.27/mo |
| 40% down | $414.71/mo |
| 45% down | $380.15/mo |
| 50% down | $345.59/mo |
$187,000 Home at 4%
| 0% down | $892.77/mo |
| 5% down | $848.13/mo |
| 10% down | $803.49/mo |
| 15% down | $758.85/mo |
| 20% down | $714.21/mo |
| 25% down | $669.57/mo |
| 30% down | $624.94/mo |
| 35% down | $580.30/mo |
| 40% down | $535.66/mo |
| 45% down | $491.02/mo |
| 50% down | $446.38/mo |
$187,000 Home at 6%
| 0% down | $1,121.16/mo |
| 5% down | $1,065.10/mo |
| 10% down | $1,009.04/mo |
| 15% down | $952.99/mo |
| 20% down | $896.93/mo |
| 25% down | $840.87/mo |
| 30% down | $784.81/mo |
| 35% down | $728.75/mo |
| 40% down | $672.70/mo |
| 45% down | $616.64/mo |
| 50% down | $560.58/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.