Use the mortgage calculator to calculate the cost of buying a $238k 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 238,000 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 $238,000 house.
2% interest
| 0% down | $879.69/mo |
| 5% down | $835.71/mo |
| 10% down | $791.72/mo |
| 15% down | $747.74/mo |
| 20% down | $703.76/mo |
| 25% down | $659.77/mo |
| 30% down | $615.79/mo |
| 35% down | $571.80/mo |
| 40% down | $527.82/mo |
| 45% down | $483.83/mo |
| 50% down | $439.85/mo |
4% interest
| 0% down | $1,136.25/mo |
| 5% down | $1,079.44/mo |
| 10% down | $1,022.62/mo |
| 15% down | $965.81/mo |
| 20% down | $909.00/mo |
| 25% down | $852.19/mo |
| 30% down | $795.37/mo |
| 35% down | $738.56/mo |
| 40% down | $681.75/mo |
| 45% down | $624.94/mo |
| 50% down | $568.12/mo |
6% interest
| 0% down | $1,426.93/mo |
| 5% down | $1,355.58/mo |
| 10% down | $1,284.24/mo |
| 15% down | $1,212.89/mo |
| 20% down | $1,141.54/mo |
| 25% down | $1,070.20/mo |
| 30% down | $998.85/mo |
| 35% down | $927.50/mo |
| 40% down | $856.16/mo |
| 45% down | $784.81/mo |
| 50% down | $713.47/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.