$248,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $248k 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 248,000 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 $248,000 house.
2% interest
0% down$916.66/mo
5% down$870.82/mo
10% down$824.99/mo
15% down$779.16/mo
20% down$733.33/mo
25% down$687.49/mo
30% down$641.66/mo
35% down$595.83/mo
40% down$549.99/mo
45% down$504.16/mo
50% down$458.33/mo
4% interest
0% down$1,183.99/mo
5% down$1,124.79/mo
10% down$1,065.59/mo
15% down$1,006.39/mo
20% down$947.19/mo
25% down$887.99/mo
30% down$828.79/mo
35% down$769.59/mo
40% down$710.39/mo
45% down$651.19/mo
50% down$591.99/mo
6% interest
0% down$1,486.89/mo
5% down$1,412.54/mo
10% down$1,338.20/mo
15% down$1,263.85/mo
20% down$1,189.51/mo
25% down$1,115.16/mo
30% down$1,040.82/mo
35% down$966.48/mo
40% down$892.13/mo
45% down$817.79/mo
50% down$743.44/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 248,000 house with a 20% down payment?
($198,400 loan. 30 year mortgage)
0.25%$572.09
0.50%$593.59
0.75%$615.61
1.00%$638.13
1.25%$661.17
1.50%$684.72
1.75%$708.77
2.00%$733.33
2.25%$758.38
2.50%$783.92
2.75%$809.95
3.00%$836.46
3.25%$863.45
3.50%$890.90
3.75%$918.82
4.00%$947.19
4.25%$976.01
4.50%$1,005.26
4.75%$1,034.95
5.00%$1,065.05
5.25%$1,095.57
5.50%$1,126.49
5.75%$1,157.81
6.00%$1,189.51
6.25%$1,221.58
6.50%$1,254.02
6.75%$1,286.82
7.00%$1,319.96
7.25%$1,353.44
7.50%$1,387.24
7.75%$1,421.36
8.00%$1,455.79
8.25%$1,490.51
8.50%$1,525.52
8.75%$1,560.81
9.00%$1,596.37
9.25%$1,632.19
9.50%$1,668.25
9.75%$1,704.56
10.00%$1,741.10
10.25%$1,777.86
10.50%$1,814.84
10.75%$1,852.03
11.00%$1,889.41
11.25%$1,926.98
11.50%$1,964.74
11.75%$2,002.67
12.00%$2,040.77