Use the mortgage calculator to calculate the cost of buying a $216k 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 216,000 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 $216,000 house.
2% interest
| 0% down | $798.38/mo |
| 5% down | $758.46/mo |
| 10% down | $718.54/mo |
| 15% down | $678.62/mo |
| 20% down | $638.70/mo |
| 25% down | $598.78/mo |
| 30% down | $558.86/mo |
| 35% down | $518.95/mo |
| 40% down | $479.03/mo |
| 45% down | $439.11/mo |
| 50% down | $399.19/mo |
4% interest
| 0% down | $1,031.22/mo |
| 5% down | $979.66/mo |
| 10% down | $928.10/mo |
| 15% down | $876.53/mo |
| 20% down | $824.97/mo |
| 25% down | $773.41/mo |
| 30% down | $721.85/mo |
| 35% down | $670.29/mo |
| 40% down | $618.73/mo |
| 45% down | $567.17/mo |
| 50% down | $515.61/mo |
6% interest
| 0% down | $1,295.03/mo |
| 5% down | $1,230.28/mo |
| 10% down | $1,165.53/mo |
| 15% down | $1,100.77/mo |
| 20% down | $1,036.02/mo |
| 25% down | $971.27/mo |
| 30% down | $906.52/mo |
| 35% down | $841.77/mo |
| 40% down | $777.02/mo |
| 45% down | $712.27/mo |
| 50% down | $647.51/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.