$245,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $245k 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 245,000 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 $245,000 house.
2% interest
0% down$905.57/mo
5% down$860.29/mo
10% down$815.01/mo
15% down$769.73/mo
20% down$724.45/mo
25% down$679.18/mo
30% down$633.90/mo
35% down$588.62/mo
40% down$543.34/mo
45% down$498.06/mo
50% down$452.78/mo
4% interest
0% down$1,169.67/mo
5% down$1,111.18/mo
10% down$1,052.70/mo
15% down$994.22/mo
20% down$935.73/mo
25% down$877.25/mo
30% down$818.77/mo
35% down$760.28/mo
40% down$701.80/mo
45% down$643.32/mo
50% down$584.83/mo
6% interest
0% down$1,468.90/mo
5% down$1,395.45/mo
10% down$1,322.01/mo
15% down$1,248.56/mo
20% down$1,175.12/mo
25% down$1,101.67/mo
30% down$1,028.23/mo
35% down$954.78/mo
40% down$881.34/mo
45% down$807.89/mo
50% down$734.45/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 245,000 house with a 20% down payment?
($196,000 loan. 30 year mortgage)
0.25%$565.17
0.50%$586.41
0.75%$608.16
1.00%$630.41
1.25%$653.17
1.50%$676.44
1.75%$700.20
2.00%$724.45
2.25%$749.20
2.50%$774.44
2.75%$800.15
3.00%$826.34
3.25%$853.00
3.50%$880.13
3.75%$907.71
4.00%$935.73
4.25%$964.20
4.50%$993.10
4.75%$1,022.43
5.00%$1,052.17
5.25%$1,082.32
5.50%$1,112.87
5.75%$1,143.80
6.00%$1,175.12
6.25%$1,206.81
6.50%$1,238.85
6.75%$1,271.25
7.00%$1,303.99
7.25%$1,337.07
7.50%$1,370.46
7.75%$1,404.17
8.00%$1,438.18
8.25%$1,472.48
8.50%$1,507.07
8.75%$1,541.93
9.00%$1,577.06
9.25%$1,612.44
9.50%$1,648.07
9.75%$1,683.94
10.00%$1,720.04
10.25%$1,756.36
10.50%$1,792.89
10.75%$1,829.62
11.00%$1,866.55
11.25%$1,903.67
11.50%$1,940.97
11.75%$1,978.44
12.00%$2,016.08