Use the mortgage calculator to calculate the cost of buying a $35k 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 35,000 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 $35,000 house.
2% interest
| 0% down | $129.37/mo |
| 5% down | $122.90/mo |
| 10% down | $116.43/mo |
| 15% down | $109.96/mo |
| 20% down | $103.49/mo |
| 25% down | $97.03/mo |
| 30% down | $90.56/mo |
| 35% down | $84.09/mo |
| 40% down | $77.62/mo |
| 45% down | $71.15/mo |
| 50% down | $64.68/mo |
4% interest
| 0% down | $167.10/mo |
| 5% down | $158.74/mo |
| 10% down | $150.39/mo |
| 15% down | $142.03/mo |
| 20% down | $133.68/mo |
| 25% down | $125.32/mo |
| 30% down | $116.97/mo |
| 35% down | $108.61/mo |
| 40% down | $100.26/mo |
| 45% down | $91.90/mo |
| 50% down | $83.55/mo |
6% interest
| 0% down | $209.84/mo |
| 5% down | $199.35/mo |
| 10% down | $188.86/mo |
| 15% down | $178.37/mo |
| 20% down | $167.87/mo |
| 25% down | $157.38/mo |
| 30% down | $146.89/mo |
| 35% down | $136.40/mo |
| 40% down | $125.91/mo |
| 45% down | $115.41/mo |
| 50% down | $104.92/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.