Use the mortgage calculator to calculate the cost of buying a $204k 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 204,000 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 $204,000 house.
$204,000 Home at 2%
| 0% down | $754.02/mo |
| 5% down | $716.32/mo |
| 10% down | $678.62/mo |
| 15% down | $640.92/mo |
| 20% down | $603.22/mo |
| 25% down | $565.52/mo |
| 30% down | $527.82/mo |
| 35% down | $490.12/mo |
| 40% down | $452.41/mo |
| 45% down | $414.71/mo |
| 50% down | $377.01/mo |
$204,000 Home at 4%
| 0% down | $973.93/mo |
| 5% down | $925.23/mo |
| 10% down | $876.53/mo |
| 15% down | $827.84/mo |
| 20% down | $779.14/mo |
| 25% down | $730.45/mo |
| 30% down | $681.75/mo |
| 35% down | $633.05/mo |
| 40% down | $584.36/mo |
| 45% down | $535.66/mo |
| 50% down | $486.96/mo |
$204,000 Home at 6%
| 0% down | $1,223.08/mo |
| 5% down | $1,161.93/mo |
| 10% down | $1,100.77/mo |
| 15% down | $1,039.62/mo |
| 20% down | $978.47/mo |
| 25% down | $917.31/mo |
| 30% down | $856.16/mo |
| 35% down | $795.00/mo |
| 40% down | $733.85/mo |
| 45% down | $672.70/mo |
| 50% down | $611.54/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.