Use the mortgage calculator to calculate the cost of buying a $285k 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 285,000 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 $285,000 house.
$285,000 Home at 2%
| 0% down | $1,053.42/mo |
| 5% down | $1,000.74/mo |
| 10% down | $948.07/mo |
| 15% down | $895.40/mo |
| 20% down | $842.73/mo |
| 25% down | $790.06/mo |
| 30% down | $737.39/mo |
| 35% down | $684.72/mo |
| 40% down | $632.05/mo |
| 45% down | $579.38/mo |
| 50% down | $526.71/mo |
$285,000 Home at 4%
| 0% down | $1,360.63/mo |
| 5% down | $1,292.60/mo |
| 10% down | $1,224.57/mo |
| 15% down | $1,156.54/mo |
| 20% down | $1,088.51/mo |
| 25% down | $1,020.48/mo |
| 30% down | $952.44/mo |
| 35% down | $884.41/mo |
| 40% down | $816.38/mo |
| 45% down | $748.35/mo |
| 50% down | $680.32/mo |
$285,000 Home at 6%
| 0% down | $1,708.72/mo |
| 5% down | $1,623.28/mo |
| 10% down | $1,537.85/mo |
| 15% down | $1,452.41/mo |
| 20% down | $1,366.98/mo |
| 25% down | $1,281.54/mo |
| 30% down | $1,196.10/mo |
| 35% down | $1,110.67/mo |
| 40% down | $1,025.23/mo |
| 45% down | $939.80/mo |
| 50% down | $854.36/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.