Use the mortgage calculator to calculate the cost of buying a $230k 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 230,000 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 $230,000 house.
$230,000 Home at 2%
| 0% down | $850.12/mo |
| 5% down | $807.62/mo |
| 10% down | $765.11/mo |
| 15% down | $722.61/mo |
| 20% down | $680.10/mo |
| 25% down | $637.59/mo |
| 30% down | $595.09/mo |
| 35% down | $552.58/mo |
| 40% down | $510.07/mo |
| 45% down | $467.57/mo |
| 50% down | $425.06/mo |
$230,000 Home at 4%
| 0% down | $1,098.06/mo |
| 5% down | $1,043.15/mo |
| 10% down | $988.25/mo |
| 15% down | $933.35/mo |
| 20% down | $878.44/mo |
| 25% down | $823.54/mo |
| 30% down | $768.64/mo |
| 35% down | $713.74/mo |
| 40% down | $658.83/mo |
| 45% down | $603.93/mo |
| 50% down | $549.03/mo |
$230,000 Home at 6%
| 0% down | $1,378.97/mo |
| 5% down | $1,310.02/mo |
| 10% down | $1,241.07/mo |
| 15% down | $1,172.12/mo |
| 20% down | $1,103.17/mo |
| 25% down | $1,034.22/mo |
| 30% down | $965.28/mo |
| 35% down | $896.33/mo |
| 40% down | $827.38/mo |
| 45% down | $758.43/mo |
| 50% down | $689.48/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.