Use the mortgage calculator to calculate the cost of buying a $303k 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 303,000 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 $303,000 house.
2% interest
| 0% down | $1,119.95/mo |
| 5% down | $1,063.95/mo |
| 10% down | $1,007.95/mo |
| 15% down | $951.95/mo |
| 20% down | $895.96/mo |
| 25% down | $839.96/mo |
| 30% down | $783.96/mo |
| 35% down | $727.97/mo |
| 40% down | $671.97/mo |
| 45% down | $615.97/mo |
| 50% down | $559.97/mo |
4% interest
| 0% down | $1,446.57/mo |
| 5% down | $1,374.24/mo |
| 10% down | $1,301.91/mo |
| 15% down | $1,229.58/mo |
| 20% down | $1,157.25/mo |
| 25% down | $1,084.93/mo |
| 30% down | $1,012.60/mo |
| 35% down | $940.27/mo |
| 40% down | $867.94/mo |
| 45% down | $795.61/mo |
| 50% down | $723.28/mo |
6% interest
| 0% down | $1,816.64/mo |
| 5% down | $1,725.81/mo |
| 10% down | $1,634.97/mo |
| 15% down | $1,544.14/mo |
| 20% down | $1,453.31/mo |
| 25% down | $1,362.48/mo |
| 30% down | $1,271.65/mo |
| 35% down | $1,180.81/mo |
| 40% down | $1,089.98/mo |
| 45% down | $999.15/mo |
| 50% down | $908.32/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.