Use the mortgage calculator to calculate the cost of buying a $229k 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 229,000 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 $229,000 house.
$229,000 Home at 2%
| 0% down | $846.43/mo |
| 5% down | $804.11/mo |
| 10% down | $761.79/mo |
| 15% down | $719.46/mo |
| 20% down | $677.14/mo |
| 25% down | $634.82/mo |
| 30% down | $592.50/mo |
| 35% down | $550.18/mo |
| 40% down | $507.86/mo |
| 45% down | $465.54/mo |
| 50% down | $423.21/mo |
$229,000 Home at 4%
| 0% down | $1,093.28/mo |
| 5% down | $1,038.62/mo |
| 10% down | $983.95/mo |
| 15% down | $929.29/mo |
| 20% down | $874.62/mo |
| 25% down | $819.96/mo |
| 30% down | $765.30/mo |
| 35% down | $710.63/mo |
| 40% down | $655.97/mo |
| 45% down | $601.30/mo |
| 50% down | $546.64/mo |
$229,000 Home at 6%
| 0% down | $1,372.97/mo |
| 5% down | $1,304.32/mo |
| 10% down | $1,235.67/mo |
| 15% down | $1,167.03/mo |
| 20% down | $1,098.38/mo |
| 25% down | $1,029.73/mo |
| 30% down | $961.08/mo |
| 35% down | $892.43/mo |
| 40% down | $823.78/mo |
| 45% down | $755.13/mo |
| 50% down | $686.49/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.