Use the mortgage calculator to calculate the cost of buying a $260k 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 260,000 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 $260,000 house.
$260,000 Home at 2%
| 0% down | $961.01/mo |
| 5% down | $912.96/mo |
| 10% down | $864.91/mo |
| 15% down | $816.86/mo |
| 20% down | $768.81/mo |
| 25% down | $720.76/mo |
| 30% down | $672.71/mo |
| 35% down | $624.66/mo |
| 40% down | $576.61/mo |
| 45% down | $528.56/mo |
| 50% down | $480.51/mo |
$260,000 Home at 4%
| 0% down | $1,241.28/mo |
| 5% down | $1,179.22/mo |
| 10% down | $1,117.15/mo |
| 15% down | $1,055.09/mo |
| 20% down | $993.02/mo |
| 25% down | $930.96/mo |
| 30% down | $868.90/mo |
| 35% down | $806.83/mo |
| 40% down | $744.77/mo |
| 45% down | $682.70/mo |
| 50% down | $620.64/mo |
$260,000 Home at 6%
| 0% down | $1,558.83/mo |
| 5% down | $1,480.89/mo |
| 10% down | $1,402.95/mo |
| 15% down | $1,325.01/mo |
| 20% down | $1,247.07/mo |
| 25% down | $1,169.12/mo |
| 30% down | $1,091.18/mo |
| 35% down | $1,013.24/mo |
| 40% down | $935.30/mo |
| 45% down | $857.36/mo |
| 50% down | $779.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.