Use the mortgage calculator to calculate the cost of buying a $250k 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 250,000 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 $250,000 house.
$250,000 Home at 2%
| 0% down | $924.05/mo |
| 5% down | $877.85/mo |
| 10% down | $831.64/mo |
| 15% down | $785.44/mo |
| 20% down | $739.24/mo |
| 25% down | $693.04/mo |
| 30% down | $646.83/mo |
| 35% down | $600.63/mo |
| 40% down | $554.43/mo |
| 45% down | $508.23/mo |
| 50% down | $462.02/mo |
$250,000 Home at 4%
| 0% down | $1,193.54/mo |
| 5% down | $1,133.86/mo |
| 10% down | $1,074.18/mo |
| 15% down | $1,014.51/mo |
| 20% down | $954.83/mo |
| 25% down | $895.15/mo |
| 30% down | $835.48/mo |
| 35% down | $775.80/mo |
| 40% down | $716.12/mo |
| 45% down | $656.45/mo |
| 50% down | $596.77/mo |
$250,000 Home at 6%
| 0% down | $1,498.88/mo |
| 5% down | $1,423.93/mo |
| 10% down | $1,348.99/mo |
| 15% down | $1,274.04/mo |
| 20% down | $1,199.10/mo |
| 25% down | $1,124.16/mo |
| 30% down | $1,049.21/mo |
| 35% down | $974.27/mo |
| 40% down | $899.33/mo |
| 45% down | $824.38/mo |
| 50% down | $749.44/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.