Use the mortgage calculator to calculate the cost of buying a $340k 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 340,000 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 $340,000 house.
$340,000 Home at 2%
| 0% down | $1,256.71/mo |
| 5% down | $1,193.87/mo |
| 10% down | $1,131.04/mo |
| 15% down | $1,068.20/mo |
| 20% down | $1,005.36/mo |
| 25% down | $942.53/mo |
| 30% down | $879.69/mo |
| 35% down | $816.86/mo |
| 40% down | $754.02/mo |
| 45% down | $691.19/mo |
| 50% down | $628.35/mo |
$340,000 Home at 4%
| 0% down | $1,623.21/mo |
| 5% down | $1,542.05/mo |
| 10% down | $1,460.89/mo |
| 15% down | $1,379.73/mo |
| 20% down | $1,298.57/mo |
| 25% down | $1,217.41/mo |
| 30% down | $1,136.25/mo |
| 35% down | $1,055.09/mo |
| 40% down | $973.93/mo |
| 45% down | $892.77/mo |
| 50% down | $811.61/mo |
$340,000 Home at 6%
| 0% down | $2,038.47/mo |
| 5% down | $1,936.55/mo |
| 10% down | $1,834.62/mo |
| 15% down | $1,732.70/mo |
| 20% down | $1,630.78/mo |
| 25% down | $1,528.85/mo |
| 30% down | $1,426.93/mo |
| 35% down | $1,325.01/mo |
| 40% down | $1,223.08/mo |
| 45% down | $1,121.16/mo |
| 50% down | $1,019.24/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.