Use the mortgage calculator to calculate the cost of buying a $36k 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 36,000 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 $36,000 house.
$36,000 Home at 2%
| 0% down | $133.06/mo |
| 5% down | $126.41/mo |
| 10% down | $119.76/mo |
| 15% down | $113.10/mo |
| 20% down | $106.45/mo |
| 25% down | $99.80/mo |
| 30% down | $93.14/mo |
| 35% down | $86.49/mo |
| 40% down | $79.84/mo |
| 45% down | $73.18/mo |
| 50% down | $66.53/mo |
$36,000 Home at 4%
| 0% down | $171.87/mo |
| 5% down | $163.28/mo |
| 10% down | $154.68/mo |
| 15% down | $146.09/mo |
| 20% down | $137.50/mo |
| 25% down | $128.90/mo |
| 30% down | $120.31/mo |
| 35% down | $111.72/mo |
| 40% down | $103.12/mo |
| 45% down | $94.53/mo |
| 50% down | $85.93/mo |
$36,000 Home at 6%
| 0% down | $215.84/mo |
| 5% down | $205.05/mo |
| 10% down | $194.25/mo |
| 15% down | $183.46/mo |
| 20% down | $172.67/mo |
| 25% down | $161.88/mo |
| 30% down | $151.09/mo |
| 35% down | $140.29/mo |
| 40% down | $129.50/mo |
| 45% down | $118.71/mo |
| 50% down | $107.92/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.