Use the mortgage calculator to calculate the cost of buying a $409k 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 409,000 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 $409,000 house.
2% interest
| 0% down | $1,511.74/mo |
| 5% down | $1,436.16/mo |
| 10% down | $1,360.57/mo |
| 15% down | $1,284.98/mo |
| 20% down | $1,209.39/mo |
| 25% down | $1,133.81/mo |
| 30% down | $1,058.22/mo |
| 35% down | $982.63/mo |
| 40% down | $907.05/mo |
| 45% down | $831.46/mo |
| 50% down | $755.87/mo |
4% interest
| 0% down | $1,952.63/mo |
| 5% down | $1,855.00/mo |
| 10% down | $1,757.37/mo |
| 15% down | $1,659.73/mo |
| 20% down | $1,562.10/mo |
| 25% down | $1,464.47/mo |
| 30% down | $1,366.84/mo |
| 35% down | $1,269.21/mo |
| 40% down | $1,171.58/mo |
| 45% down | $1,073.95/mo |
| 50% down | $976.31/mo |
6% interest
| 0% down | $2,452.16/mo |
| 5% down | $2,329.55/mo |
| 10% down | $2,206.95/mo |
| 15% down | $2,084.34/mo |
| 20% down | $1,961.73/mo |
| 25% down | $1,839.12/mo |
| 30% down | $1,716.51/mo |
| 35% down | $1,593.91/mo |
| 40% down | $1,471.30/mo |
| 45% down | $1,348.69/mo |
| 50% down | $1,226.08/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.