Use the mortgage calculator to calculate the cost of buying a $342k 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 342,000 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 $342,000 house.
$342,000 Home at 2%
| 0% down | $1,264.10/mo |
| 5% down | $1,200.89/mo |
| 10% down | $1,137.69/mo |
| 15% down | $1,074.48/mo |
| 20% down | $1,011.28/mo |
| 25% down | $948.07/mo |
| 30% down | $884.87/mo |
| 35% down | $821.66/mo |
| 40% down | $758.46/mo |
| 45% down | $695.25/mo |
| 50% down | $632.05/mo |
$342,000 Home at 4%
| 0% down | $1,632.76/mo |
| 5% down | $1,551.12/mo |
| 10% down | $1,469.48/mo |
| 15% down | $1,387.85/mo |
| 20% down | $1,306.21/mo |
| 25% down | $1,224.57/mo |
| 30% down | $1,142.93/mo |
| 35% down | $1,061.29/mo |
| 40% down | $979.66/mo |
| 45% down | $898.02/mo |
| 50% down | $816.38/mo |
$342,000 Home at 6%
| 0% down | $2,050.46/mo |
| 5% down | $1,947.94/mo |
| 10% down | $1,845.42/mo |
| 15% down | $1,742.89/mo |
| 20% down | $1,640.37/mo |
| 25% down | $1,537.85/mo |
| 30% down | $1,435.32/mo |
| 35% down | $1,332.80/mo |
| 40% down | $1,230.28/mo |
| 45% down | $1,127.75/mo |
| 50% down | $1,025.23/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.