Use the mortgage calculator to calculate the cost of buying a $24k 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 24,000 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 $24,000 house.
2% interest
| 0% down | $88.71/mo |
| 5% down | $84.27/mo |
| 10% down | $79.84/mo |
| 15% down | $75.40/mo |
| 20% down | $70.97/mo |
| 25% down | $66.53/mo |
| 30% down | $62.10/mo |
| 35% down | $57.66/mo |
| 40% down | $53.23/mo |
| 45% down | $48.79/mo |
| 50% down | $44.35/mo |
4% interest
| 0% down | $114.58/mo |
| 5% down | $108.85/mo |
| 10% down | $103.12/mo |
| 15% down | $97.39/mo |
| 20% down | $91.66/mo |
| 25% down | $85.93/mo |
| 30% down | $80.21/mo |
| 35% down | $74.48/mo |
| 40% down | $68.75/mo |
| 45% down | $63.02/mo |
| 50% down | $57.29/mo |
6% interest
| 0% down | $143.89/mo |
| 5% down | $136.70/mo |
| 10% down | $129.50/mo |
| 15% down | $122.31/mo |
| 20% down | $115.11/mo |
| 25% down | $107.92/mo |
| 30% down | $100.72/mo |
| 35% down | $93.53/mo |
| 40% down | $86.34/mo |
| 45% down | $79.14/mo |
| 50% down | $71.95/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.