Use the mortgage calculator to calculate the cost of buying a $41k 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 41,000 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 $41,000 house.
2% interest
| 0% down | $151.54/mo |
| 5% down | $143.97/mo |
| 10% down | $136.39/mo |
| 15% down | $128.81/mo |
| 20% down | $121.24/mo |
| 25% down | $113.66/mo |
| 30% down | $106.08/mo |
| 35% down | $98.50/mo |
| 40% down | $90.93/mo |
| 45% down | $83.35/mo |
| 50% down | $75.77/mo |
4% interest
| 0% down | $195.74/mo |
| 5% down | $185.95/mo |
| 10% down | $176.17/mo |
| 15% down | $166.38/mo |
| 20% down | $156.59/mo |
| 25% down | $146.81/mo |
| 30% down | $137.02/mo |
| 35% down | $127.23/mo |
| 40% down | $117.44/mo |
| 45% down | $107.66/mo |
| 50% down | $97.87/mo |
6% interest
| 0% down | $245.82/mo |
| 5% down | $233.52/mo |
| 10% down | $221.23/mo |
| 15% down | $208.94/mo |
| 20% down | $196.65/mo |
| 25% down | $184.36/mo |
| 30% down | $172.07/mo |
| 35% down | $159.78/mo |
| 40% down | $147.49/mo |
| 45% down | $135.20/mo |
| 50% down | $122.91/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.