Use the mortgage calculator to calculate the cost of buying a $251k 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 251,000 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 $251,000 house.
$251,000 Home at 2%
| 0% down | $927.74/mo |
| 5% down | $881.36/mo |
| 10% down | $834.97/mo |
| 15% down | $788.58/mo |
| 20% down | $742.20/mo |
| 25% down | $695.81/mo |
| 30% down | $649.42/mo |
| 35% down | $603.03/mo |
| 40% down | $556.65/mo |
| 45% down | $510.26/mo |
| 50% down | $463.87/mo |
$251,000 Home at 4%
| 0% down | $1,198.31/mo |
| 5% down | $1,138.40/mo |
| 10% down | $1,078.48/mo |
| 15% down | $1,018.57/mo |
| 20% down | $958.65/mo |
| 25% down | $898.73/mo |
| 30% down | $838.82/mo |
| 35% down | $778.90/mo |
| 40% down | $718.99/mo |
| 45% down | $659.07/mo |
| 50% down | $599.16/mo |
$251,000 Home at 6%
| 0% down | $1,504.87/mo |
| 5% down | $1,429.63/mo |
| 10% down | $1,354.38/mo |
| 15% down | $1,279.14/mo |
| 20% down | $1,203.90/mo |
| 25% down | $1,128.65/mo |
| 30% down | $1,053.41/mo |
| 35% down | $978.17/mo |
| 40% down | $902.92/mo |
| 45% down | $827.68/mo |
| 50% down | $752.44/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.