Use the mortgage calculator to calculate the cost of buying a $259k 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 259,000 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 $259,000 house.
2% interest
| 0% down | $957.31/mo |
| 5% down | $909.45/mo |
| 10% down | $861.58/mo |
| 15% down | $813.72/mo |
| 20% down | $765.85/mo |
| 25% down | $717.99/mo |
| 30% down | $670.12/mo |
| 35% down | $622.25/mo |
| 40% down | $574.39/mo |
| 45% down | $526.52/mo |
| 50% down | $478.66/mo |
4% interest
| 0% down | $1,236.51/mo |
| 5% down | $1,174.68/mo |
| 10% down | $1,112.86/mo |
| 15% down | $1,051.03/mo |
| 20% down | $989.20/mo |
| 25% down | $927.38/mo |
| 30% down | $865.55/mo |
| 35% down | $803.73/mo |
| 40% down | $741.90/mo |
| 45% down | $680.08/mo |
| 50% down | $618.25/mo |
6% interest
| 0% down | $1,552.84/mo |
| 5% down | $1,475.19/mo |
| 10% down | $1,397.55/mo |
| 15% down | $1,319.91/mo |
| 20% down | $1,242.27/mo |
| 25% down | $1,164.63/mo |
| 30% down | $1,086.99/mo |
| 35% down | $1,009.34/mo |
| 40% down | $931.70/mo |
| 45% down | $854.06/mo |
| 50% down | $776.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.