Use the mortgage calculator to calculate the cost of buying a $296k 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 296,000 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 $296,000 house.
$296,000 Home at 2%
| 0% down | $1,094.07/mo |
| 5% down | $1,039.37/mo |
| 10% down | $984.67/mo |
| 15% down | $929.96/mo |
| 20% down | $875.26/mo |
| 25% down | $820.56/mo |
| 30% down | $765.85/mo |
| 35% down | $711.15/mo |
| 40% down | $656.44/mo |
| 45% down | $601.74/mo |
| 50% down | $547.04/mo |
$296,000 Home at 4%
| 0% down | $1,413.15/mo |
| 5% down | $1,342.49/mo |
| 10% down | $1,271.83/mo |
| 15% down | $1,201.18/mo |
| 20% down | $1,130.52/mo |
| 25% down | $1,059.86/mo |
| 30% down | $989.20/mo |
| 35% down | $918.55/mo |
| 40% down | $847.89/mo |
| 45% down | $777.23/mo |
| 50% down | $706.57/mo |
$296,000 Home at 6%
| 0% down | $1,774.67/mo |
| 5% down | $1,685.94/mo |
| 10% down | $1,597.20/mo |
| 15% down | $1,508.47/mo |
| 20% down | $1,419.74/mo |
| 25% down | $1,331.00/mo |
| 30% down | $1,242.27/mo |
| 35% down | $1,153.54/mo |
| 40% down | $1,064.80/mo |
| 45% down | $976.07/mo |
| 50% down | $887.33/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.