Use the mortgage calculator to calculate the cost of buying a $387k 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 387,000 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 $387,000 house.
$387,000 Home at 2%
| 0% down | $1,430.43/mo |
| 5% down | $1,358.91/mo |
| 10% down | $1,287.38/mo |
| 15% down | $1,215.86/mo |
| 20% down | $1,144.34/mo |
| 25% down | $1,072.82/mo |
| 30% down | $1,001.30/mo |
| 35% down | $929.78/mo |
| 40% down | $858.26/mo |
| 45% down | $786.74/mo |
| 50% down | $715.21/mo |
$387,000 Home at 4%
| 0% down | $1,847.60/mo |
| 5% down | $1,755.22/mo |
| 10% down | $1,662.84/mo |
| 15% down | $1,570.46/mo |
| 20% down | $1,478.08/mo |
| 25% down | $1,385.70/mo |
| 30% down | $1,293.32/mo |
| 35% down | $1,200.94/mo |
| 40% down | $1,108.56/mo |
| 45% down | $1,016.18/mo |
| 50% down | $923.80/mo |
$387,000 Home at 6%
| 0% down | $2,320.26/mo |
| 5% down | $2,204.25/mo |
| 10% down | $2,088.23/mo |
| 15% down | $1,972.22/mo |
| 20% down | $1,856.21/mo |
| 25% down | $1,740.20/mo |
| 30% down | $1,624.18/mo |
| 35% down | $1,508.17/mo |
| 40% down | $1,392.16/mo |
| 45% down | $1,276.14/mo |
| 50% down | $1,160.13/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.