Use the mortgage calculator to calculate the cost of buying a $298k 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 298,000 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 $298,000 house.
$298,000 Home at 2%
0% down | $1,101.47/mo |
5% down | $1,046.39/mo |
10% down | $991.32/mo |
15% down | $936.25/mo |
20% down | $881.17/mo |
25% down | $826.10/mo |
30% down | $771.03/mo |
35% down | $715.95/mo |
40% down | $660.88/mo |
45% down | $605.81/mo |
50% down | $550.73/mo |
$298,000 Home at 4%
0% down | $1,422.70/mo |
5% down | $1,351.56/mo |
10% down | $1,280.43/mo |
15% down | $1,209.29/mo |
20% down | $1,138.16/mo |
25% down | $1,067.02/mo |
30% down | $995.89/mo |
35% down | $924.75/mo |
40% down | $853.62/mo |
45% down | $782.48/mo |
50% down | $711.35/mo |
$298,000 Home at 6%
0% down | $1,786.66/mo |
5% down | $1,697.33/mo |
10% down | $1,607.99/mo |
15% down | $1,518.66/mo |
20% down | $1,429.33/mo |
25% down | $1,340.00/mo |
30% down | $1,250.66/mo |
35% down | $1,161.33/mo |
40% down | $1,072.00/mo |
45% down | $982.66/mo |
50% down | $893.33/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.