Use the mortgage calculator to calculate the cost of buying a $393k 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 393,000 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 $393,000 house.
2% interest
| 0% down | $1,452.60/mo |
| 5% down | $1,379.97/mo |
| 10% down | $1,307.34/mo |
| 15% down | $1,234.71/mo |
| 20% down | $1,162.08/mo |
| 25% down | $1,089.45/mo |
| 30% down | $1,016.82/mo |
| 35% down | $944.19/mo |
| 40% down | $871.56/mo |
| 45% down | $798.93/mo |
| 50% down | $726.30/mo |
4% interest
| 0% down | $1,876.24/mo |
| 5% down | $1,782.43/mo |
| 10% down | $1,688.62/mo |
| 15% down | $1,594.81/mo |
| 20% down | $1,500.99/mo |
| 25% down | $1,407.18/mo |
| 30% down | $1,313.37/mo |
| 35% down | $1,219.56/mo |
| 40% down | $1,125.75/mo |
| 45% down | $1,031.93/mo |
| 50% down | $938.12/mo |
6% interest
| 0% down | $2,356.23/mo |
| 5% down | $2,238.42/mo |
| 10% down | $2,120.61/mo |
| 15% down | $2,002.80/mo |
| 20% down | $1,884.99/mo |
| 25% down | $1,767.18/mo |
| 30% down | $1,649.36/mo |
| 35% down | $1,531.55/mo |
| 40% down | $1,413.74/mo |
| 45% down | $1,295.93/mo |
| 50% down | $1,178.12/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.