Use the mortgage calculator to calculate the cost of buying a $256k 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 256,000 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 $256,000 house.
$256,000 Home at 2%
| 0% down | $946.23/mo |
| 5% down | $898.91/mo |
| 10% down | $851.60/mo |
| 15% down | $804.29/mo |
| 20% down | $756.98/mo |
| 25% down | $709.67/mo |
| 30% down | $662.36/mo |
| 35% down | $615.05/mo |
| 40% down | $567.74/mo |
| 45% down | $520.42/mo |
| 50% down | $473.11/mo |
$256,000 Home at 4%
| 0% down | $1,222.18/mo |
| 5% down | $1,161.07/mo |
| 10% down | $1,099.96/mo |
| 15% down | $1,038.86/mo |
| 20% down | $977.75/mo |
| 25% down | $916.64/mo |
| 30% down | $855.53/mo |
| 35% down | $794.42/mo |
| 40% down | $733.31/mo |
| 45% down | $672.20/mo |
| 50% down | $611.09/mo |
$256,000 Home at 6%
| 0% down | $1,534.85/mo |
| 5% down | $1,458.11/mo |
| 10% down | $1,381.36/mo |
| 15% down | $1,304.62/mo |
| 20% down | $1,227.88/mo |
| 25% down | $1,151.14/mo |
| 30% down | $1,074.39/mo |
| 35% down | $997.65/mo |
| 40% down | $920.91/mo |
| 45% down | $844.17/mo |
| 50% down | $767.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.