Use the mortgage calculator to calculate the cost of buying a $214k 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 214,000 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 $214,000 house.
2% interest
| 0% down | $790.99/mo |
| 5% down | $751.44/mo |
| 10% down | $711.89/mo |
| 15% down | $672.34/mo |
| 20% down | $632.79/mo |
| 25% down | $593.24/mo |
| 30% down | $553.69/mo |
| 35% down | $514.14/mo |
| 40% down | $474.59/mo |
| 45% down | $435.04/mo |
| 50% down | $395.49/mo |
4% interest
| 0% down | $1,021.67/mo |
| 5% down | $970.59/mo |
| 10% down | $919.50/mo |
| 15% down | $868.42/mo |
| 20% down | $817.33/mo |
| 25% down | $766.25/mo |
| 30% down | $715.17/mo |
| 35% down | $664.08/mo |
| 40% down | $613.00/mo |
| 45% down | $561.92/mo |
| 50% down | $510.83/mo |
6% interest
| 0% down | $1,283.04/mo |
| 5% down | $1,218.89/mo |
| 10% down | $1,154.73/mo |
| 15% down | $1,090.58/mo |
| 20% down | $1,026.43/mo |
| 25% down | $962.28/mo |
| 30% down | $898.13/mo |
| 35% down | $833.97/mo |
| 40% down | $769.82/mo |
| 45% down | $705.67/mo |
| 50% down | $641.52/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.