Use the mortgage calculator to calculate the cost of buying a $294k 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 294,000 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 $294,000 house.
$294,000 Home at 2%
| 0% down | $1,086.68/mo |
| 5% down | $1,032.35/mo |
| 10% down | $978.01/mo |
| 15% down | $923.68/mo |
| 20% down | $869.34/mo |
| 25% down | $815.01/mo |
| 30% down | $760.68/mo |
| 35% down | $706.34/mo |
| 40% down | $652.01/mo |
| 45% down | $597.67/mo |
| 50% down | $543.34/mo |
$294,000 Home at 4%
| 0% down | $1,403.60/mo |
| 5% down | $1,333.42/mo |
| 10% down | $1,263.24/mo |
| 15% down | $1,193.06/mo |
| 20% down | $1,122.88/mo |
| 25% down | $1,052.70/mo |
| 30% down | $982.52/mo |
| 35% down | $912.34/mo |
| 40% down | $842.16/mo |
| 45% down | $771.98/mo |
| 50% down | $701.80/mo |
$294,000 Home at 6%
| 0% down | $1,762.68/mo |
| 5% down | $1,674.54/mo |
| 10% down | $1,586.41/mo |
| 15% down | $1,498.28/mo |
| 20% down | $1,410.14/mo |
| 25% down | $1,322.01/mo |
| 30% down | $1,233.87/mo |
| 35% down | $1,145.74/mo |
| 40% down | $1,057.61/mo |
| 45% down | $969.47/mo |
| 50% down | $881.34/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.