Use the mortgage calculator to calculate the cost of buying a $193k 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 193,000 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 $193,000 house.
2% interest
| 0% down | $713.37/mo |
| 5% down | $677.70/mo |
| 10% down | $642.03/mo |
| 15% down | $606.36/mo |
| 20% down | $570.69/mo |
| 25% down | $535.02/mo |
| 30% down | $499.36/mo |
| 35% down | $463.69/mo |
| 40% down | $428.02/mo |
| 45% down | $392.35/mo |
| 50% down | $356.68/mo |
4% interest
| 0% down | $921.41/mo |
| 5% down | $875.34/mo |
| 10% down | $829.27/mo |
| 15% down | $783.20/mo |
| 20% down | $737.13/mo |
| 25% down | $691.06/mo |
| 30% down | $644.99/mo |
| 35% down | $598.92/mo |
| 40% down | $552.85/mo |
| 45% down | $506.78/mo |
| 50% down | $460.71/mo |
6% interest
| 0% down | $1,157.13/mo |
| 5% down | $1,099.28/mo |
| 10% down | $1,041.42/mo |
| 15% down | $983.56/mo |
| 20% down | $925.71/mo |
| 25% down | $867.85/mo |
| 30% down | $809.99/mo |
| 35% down | $752.14/mo |
| 40% down | $694.28/mo |
| 45% down | $636.42/mo |
| 50% down | $578.57/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.