Use the mortgage calculator to calculate the cost of buying a $201k 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 201,000 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 $201,000 house.
$201,000 Home at 2%
| 0% down | $742.94/mo |
| 5% down | $705.79/mo |
| 10% down | $668.64/mo |
| 15% down | $631.49/mo |
| 20% down | $594.35/mo |
| 25% down | $557.20/mo |
| 30% down | $520.05/mo |
| 35% down | $482.91/mo |
| 40% down | $445.76/mo |
| 45% down | $408.61/mo |
| 50% down | $371.47/mo |
$201,000 Home at 4%
| 0% down | $959.60/mo |
| 5% down | $911.62/mo |
| 10% down | $863.64/mo |
| 15% down | $815.66/mo |
| 20% down | $767.68/mo |
| 25% down | $719.70/mo |
| 30% down | $671.72/mo |
| 35% down | $623.74/mo |
| 40% down | $575.76/mo |
| 45% down | $527.78/mo |
| 50% down | $479.80/mo |
$201,000 Home at 6%
| 0% down | $1,205.10/mo |
| 5% down | $1,144.84/mo |
| 10% down | $1,084.59/mo |
| 15% down | $1,024.33/mo |
| 20% down | $964.08/mo |
| 25% down | $903.82/mo |
| 30% down | $843.57/mo |
| 35% down | $783.31/mo |
| 40% down | $723.06/mo |
| 45% down | $662.80/mo |
| 50% down | $602.55/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.