Use the mortgage calculator to calculate the cost of buying a $300k 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 300,000 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 $300,000 house.
$300,000 Home at 2%
| 0% down | $1,108.86/mo |
| 5% down | $1,053.42/mo |
| 10% down | $997.97/mo |
| 15% down | $942.53/mo |
| 20% down | $887.09/mo |
| 25% down | $831.64/mo |
| 30% down | $776.20/mo |
| 35% down | $720.76/mo |
| 40% down | $665.32/mo |
| 45% down | $609.87/mo |
| 50% down | $554.43/mo |
$300,000 Home at 4%
| 0% down | $1,432.25/mo |
| 5% down | $1,360.63/mo |
| 10% down | $1,289.02/mo |
| 15% down | $1,217.41/mo |
| 20% down | $1,145.80/mo |
| 25% down | $1,074.18/mo |
| 30% down | $1,002.57/mo |
| 35% down | $930.96/mo |
| 40% down | $859.35/mo |
| 45% down | $787.74/mo |
| 50% down | $716.12/mo |
$300,000 Home at 6%
| 0% down | $1,798.65/mo |
| 5% down | $1,708.72/mo |
| 10% down | $1,618.79/mo |
| 15% down | $1,528.85/mo |
| 20% down | $1,438.92/mo |
| 25% down | $1,348.99/mo |
| 30% down | $1,259.06/mo |
| 35% down | $1,169.12/mo |
| 40% down | $1,079.19/mo |
| 45% down | $989.26/mo |
| 50% down | $899.33/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.