Use the mortgage calculator to calculate the cost of buying a $29k 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 29,000 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 $29,000 house.
$29,000 Home at 2%
| 0% down | $107.19/mo |
| 5% down | $101.83/mo |
| 10% down | $96.47/mo |
| 15% down | $91.11/mo |
| 20% down | $85.75/mo |
| 25% down | $80.39/mo |
| 30% down | $75.03/mo |
| 35% down | $69.67/mo |
| 40% down | $64.31/mo |
| 45% down | $58.95/mo |
| 50% down | $53.59/mo |
$29,000 Home at 4%
| 0% down | $138.45/mo |
| 5% down | $131.53/mo |
| 10% down | $124.61/mo |
| 15% down | $117.68/mo |
| 20% down | $110.76/mo |
| 25% down | $103.84/mo |
| 30% down | $96.92/mo |
| 35% down | $89.99/mo |
| 40% down | $83.07/mo |
| 45% down | $76.15/mo |
| 50% down | $69.23/mo |
$29,000 Home at 6%
| 0% down | $173.87/mo |
| 5% down | $165.18/mo |
| 10% down | $156.48/mo |
| 15% down | $147.79/mo |
| 20% down | $139.10/mo |
| 25% down | $130.40/mo |
| 30% down | $121.71/mo |
| 35% down | $113.02/mo |
| 40% down | $104.32/mo |
| 45% down | $95.63/mo |
| 50% down | $86.93/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.