Use the mortgage calculator to calculate the cost of buying a $261k 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 261,000 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 $261,000 house.
$261,000 Home at 2%
| 0% down | $964.71/mo |
| 5% down | $916.47/mo |
| 10% down | $868.24/mo |
| 15% down | $820.00/mo |
| 20% down | $771.77/mo |
| 25% down | $723.53/mo |
| 30% down | $675.29/mo |
| 35% down | $627.06/mo |
| 40% down | $578.82/mo |
| 45% down | $530.59/mo |
| 50% down | $482.35/mo |
$261,000 Home at 4%
| 0% down | $1,246.05/mo |
| 5% down | $1,183.75/mo |
| 10% down | $1,121.45/mo |
| 15% down | $1,059.15/mo |
| 20% down | $996.84/mo |
| 25% down | $934.54/mo |
| 30% down | $872.24/mo |
| 35% down | $809.94/mo |
| 40% down | $747.63/mo |
| 45% down | $685.33/mo |
| 50% down | $623.03/mo |
$261,000 Home at 6%
| 0% down | $1,564.83/mo |
| 5% down | $1,486.59/mo |
| 10% down | $1,408.34/mo |
| 15% down | $1,330.10/mo |
| 20% down | $1,251.86/mo |
| 25% down | $1,173.62/mo |
| 30% down | $1,095.38/mo |
| 35% down | $1,017.14/mo |
| 40% down | $938.90/mo |
| 45% down | $860.65/mo |
| 50% down | $782.41/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.