Use the mortgage calculator to calculate the cost of buying a $310k 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 310,000 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 $310,000 house.
2% interest
| 0% down | $1,145.82/mo |
| 5% down | $1,088.53/mo |
| 10% down | $1,031.24/mo |
| 15% down | $973.95/mo |
| 20% down | $916.66/mo |
| 25% down | $859.37/mo |
| 30% down | $802.07/mo |
| 35% down | $744.78/mo |
| 40% down | $687.49/mo |
| 45% down | $630.20/mo |
| 50% down | $572.91/mo |
4% interest
| 0% down | $1,479.99/mo |
| 5% down | $1,405.99/mo |
| 10% down | $1,331.99/mo |
| 15% down | $1,257.99/mo |
| 20% down | $1,183.99/mo |
| 25% down | $1,109.99/mo |
| 30% down | $1,035.99/mo |
| 35% down | $961.99/mo |
| 40% down | $887.99/mo |
| 45% down | $813.99/mo |
| 50% down | $739.99/mo |
6% interest
| 0% down | $1,858.61/mo |
| 5% down | $1,765.68/mo |
| 10% down | $1,672.75/mo |
| 15% down | $1,579.82/mo |
| 20% down | $1,486.89/mo |
| 25% down | $1,393.95/mo |
| 30% down | $1,301.02/mo |
| 35% down | $1,208.09/mo |
| 40% down | $1,115.16/mo |
| 45% down | $1,022.23/mo |
| 50% down | $929.30/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.