Use the mortgage calculator to calculate the cost of buying a $346k 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 346,000 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 $346,000 house.
2% interest
| 0% down | $1,278.88/mo |
| 5% down | $1,214.94/mo |
| 10% down | $1,151.00/mo |
| 15% down | $1,087.05/mo |
| 20% down | $1,023.11/mo |
| 25% down | $959.16/mo |
| 30% down | $895.22/mo |
| 35% down | $831.27/mo |
| 40% down | $767.33/mo |
| 45% down | $703.39/mo |
| 50% down | $639.44/mo |
4% interest
| 0% down | $1,651.86/mo |
| 5% down | $1,569.26/mo |
| 10% down | $1,486.67/mo |
| 15% down | $1,404.08/mo |
| 20% down | $1,321.49/mo |
| 25% down | $1,238.89/mo |
| 30% down | $1,156.30/mo |
| 35% down | $1,073.71/mo |
| 40% down | $991.11/mo |
| 45% down | $908.52/mo |
| 50% down | $825.93/mo |
6% interest
| 0% down | $2,074.44/mo |
| 5% down | $1,970.72/mo |
| 10% down | $1,867.00/mo |
| 15% down | $1,763.28/mo |
| 20% down | $1,659.56/mo |
| 25% down | $1,555.83/mo |
| 30% down | $1,452.11/mo |
| 35% down | $1,348.39/mo |
| 40% down | $1,244.67/mo |
| 45% down | $1,140.94/mo |
| 50% down | $1,037.22/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.