Use the mortgage calculator to calculate the cost of buying a $206k 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 206,000 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 $206,000 house.
2% interest
| 0% down | $761.42/mo |
| 5% down | $723.35/mo |
| 10% down | $685.27/mo |
| 15% down | $647.20/mo |
| 20% down | $609.13/mo |
| 25% down | $571.06/mo |
| 30% down | $532.99/mo |
| 35% down | $494.92/mo |
| 40% down | $456.85/mo |
| 45% down | $418.78/mo |
| 50% down | $380.71/mo |
4% interest
| 0% down | $983.48/mo |
| 5% down | $934.30/mo |
| 10% down | $885.13/mo |
| 15% down | $835.95/mo |
| 20% down | $786.78/mo |
| 25% down | $737.61/mo |
| 30% down | $688.43/mo |
| 35% down | $639.26/mo |
| 40% down | $590.09/mo |
| 45% down | $540.91/mo |
| 50% down | $491.74/mo |
6% interest
| 0% down | $1,235.07/mo |
| 5% down | $1,173.32/mo |
| 10% down | $1,111.57/mo |
| 15% down | $1,049.81/mo |
| 20% down | $988.06/mo |
| 25% down | $926.31/mo |
| 30% down | $864.55/mo |
| 35% down | $802.80/mo |
| 40% down | $741.04/mo |
| 45% down | $679.29/mo |
| 50% down | $617.54/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.