Use the mortgage calculator to calculate the cost of buying a $33k 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 33,000 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 $33,000 house.
2% interest
| 0% down | $121.97/mo |
| 5% down | $115.88/mo |
| 10% down | $109.78/mo |
| 15% down | $103.68/mo |
| 20% down | $97.58/mo |
| 25% down | $91.48/mo |
| 30% down | $85.38/mo |
| 35% down | $79.28/mo |
| 40% down | $73.18/mo |
| 45% down | $67.09/mo |
| 50% down | $60.99/mo |
4% interest
| 0% down | $157.55/mo |
| 5% down | $149.67/mo |
| 10% down | $141.79/mo |
| 15% down | $133.91/mo |
| 20% down | $126.04/mo |
| 25% down | $118.16/mo |
| 30% down | $110.28/mo |
| 35% down | $102.41/mo |
| 40% down | $94.53/mo |
| 45% down | $86.65/mo |
| 50% down | $78.77/mo |
6% interest
| 0% down | $197.85/mo |
| 5% down | $187.96/mo |
| 10% down | $178.07/mo |
| 15% down | $168.17/mo |
| 20% down | $158.28/mo |
| 25% down | $148.39/mo |
| 30% down | $138.50/mo |
| 35% down | $128.60/mo |
| 40% down | $118.71/mo |
| 45% down | $108.82/mo |
| 50% down | $98.93/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.