Use the mortgage calculator to calculate the cost of buying a $306k 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 306,000 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 $306,000 house.
$306,000 Home at 2%
| 0% down | $1,131.04/mo |
| 5% down | $1,074.48/mo |
| 10% down | $1,017.93/mo |
| 15% down | $961.38/mo |
| 20% down | $904.83/mo |
| 25% down | $848.28/mo |
| 30% down | $791.72/mo |
| 35% down | $735.17/mo |
| 40% down | $678.62/mo |
| 45% down | $622.07/mo |
| 50% down | $565.52/mo |
$306,000 Home at 4%
| 0% down | $1,460.89/mo |
| 5% down | $1,387.85/mo |
| 10% down | $1,314.80/mo |
| 15% down | $1,241.76/mo |
| 20% down | $1,168.71/mo |
| 25% down | $1,095.67/mo |
| 30% down | $1,022.62/mo |
| 35% down | $949.58/mo |
| 40% down | $876.53/mo |
| 45% down | $803.49/mo |
| 50% down | $730.45/mo |
$306,000 Home at 6%
| 0% down | $1,834.62/mo |
| 5% down | $1,742.89/mo |
| 10% down | $1,651.16/mo |
| 15% down | $1,559.43/mo |
| 20% down | $1,467.70/mo |
| 25% down | $1,375.97/mo |
| 30% down | $1,284.24/mo |
| 35% down | $1,192.51/mo |
| 40% down | $1,100.77/mo |
| 45% down | $1,009.04/mo |
| 50% down | $917.31/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.