Use the mortgage calculator to calculate the cost of buying a $244k 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 244,000 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 $244,000 house.
$244,000 Home at 2%
| 0% down | $901.87/mo |
| 5% down | $856.78/mo |
| 10% down | $811.68/mo |
| 15% down | $766.59/mo |
| 20% down | $721.50/mo |
| 25% down | $676.40/mo |
| 30% down | $631.31/mo |
| 35% down | $586.22/mo |
| 40% down | $541.12/mo |
| 45% down | $496.03/mo |
| 50% down | $450.94/mo |
$244,000 Home at 4%
| 0% down | $1,164.89/mo |
| 5% down | $1,106.65/mo |
| 10% down | $1,048.40/mo |
| 15% down | $990.16/mo |
| 20% down | $931.91/mo |
| 25% down | $873.67/mo |
| 30% down | $815.43/mo |
| 35% down | $757.18/mo |
| 40% down | $698.94/mo |
| 45% down | $640.69/mo |
| 50% down | $582.45/mo |
$244,000 Home at 6%
| 0% down | $1,462.90/mo |
| 5% down | $1,389.76/mo |
| 10% down | $1,316.61/mo |
| 15% down | $1,243.47/mo |
| 20% down | $1,170.32/mo |
| 25% down | $1,097.18/mo |
| 30% down | $1,024.03/mo |
| 35% down | $950.89/mo |
| 40% down | $877.74/mo |
| 45% down | $804.60/mo |
| 50% down | $731.45/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.