$242,000 Mortgage Loan Payments and Costs

$
$
%
years
%

Loan Summary


Use the mortgage calculator to calculate the cost of buying a $242k 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 242,000 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 $242,000 house.
2% interest
0% down$894.48/mo
5% down$849.76/mo
10% down$805.03/mo
15% down$760.31/mo
20% down$715.58/mo
25% down$670.86/mo
30% down$626.14/mo
35% down$581.41/mo
40% down$536.69/mo
45% down$491.96/mo
50% down$447.24/mo
4% interest
0% down$1,155.35/mo
5% down$1,097.58/mo
10% down$1,039.81/mo
15% down$982.04/mo
20% down$924.28/mo
25% down$866.51/mo
30% down$808.74/mo
35% down$750.97/mo
40% down$693.21/mo
45% down$635.44/mo
50% down$577.67/mo
6% interest
0% down$1,450.91/mo
5% down$1,378.37/mo
10% down$1,305.82/mo
15% down$1,233.28/mo
20% down$1,160.73/mo
25% down$1,088.18/mo
30% down$1,015.64/mo
35% down$943.09/mo
40% down$870.55/mo
45% down$798.00/mo
50% down$725.46/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 242,000 house with a 20% down payment?
($193,600 loan. 30 year mortgage)
0.25%$558.25
0.50%$579.23
0.75%$600.71
1.00%$622.69
1.25%$645.18
1.50%$668.15
1.75%$691.62
2.00%$715.58
2.25%$740.03
2.50%$764.95
2.75%$790.35
3.00%$816.23
3.25%$842.56
3.50%$869.35
3.75%$896.59
4.00%$924.28
4.25%$952.40
4.50%$980.94
4.75%$1,009.91
5.00%$1,039.29
5.25%$1,069.07
5.50%$1,099.24
5.75%$1,129.80
6.00%$1,160.73
6.25%$1,192.03
6.50%$1,223.68
6.75%$1,255.69
7.00%$1,288.03
7.25%$1,320.69
7.50%$1,353.68
7.75%$1,386.97
8.00%$1,420.57
8.25%$1,454.45
8.50%$1,488.62
8.75%$1,523.05
9.00%$1,557.75
9.25%$1,592.70
9.50%$1,627.89
9.75%$1,663.32
10.00%$1,698.98
10.25%$1,734.85
10.50%$1,770.94
10.75%$1,807.22
11.00%$1,843.70
11.25%$1,880.36
11.50%$1,917.20
11.75%$1,954.22
12.00%$1,991.39