Use the mortgage calculator to calculate the cost of buying a $424k 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 424,000 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 $424,000 house.
$424,000 Home at 2%
| 0% down | $1,567.19/mo |
| 5% down | $1,488.83/mo |
| 10% down | $1,410.47/mo |
| 15% down | $1,332.11/mo |
| 20% down | $1,253.75/mo |
| 25% down | $1,175.39/mo |
| 30% down | $1,097.03/mo |
| 35% down | $1,018.67/mo |
| 40% down | $940.31/mo |
| 45% down | $861.95/mo |
| 50% down | $783.59/mo |
$424,000 Home at 4%
| 0% down | $2,024.24/mo |
| 5% down | $1,923.03/mo |
| 10% down | $1,821.82/mo |
| 15% down | $1,720.60/mo |
| 20% down | $1,619.39/mo |
| 25% down | $1,518.18/mo |
| 30% down | $1,416.97/mo |
| 35% down | $1,315.76/mo |
| 40% down | $1,214.54/mo |
| 45% down | $1,113.33/mo |
| 50% down | $1,012.12/mo |
$424,000 Home at 6%
| 0% down | $2,542.09/mo |
| 5% down | $2,414.99/mo |
| 10% down | $2,287.88/mo |
| 15% down | $2,160.78/mo |
| 20% down | $2,033.68/mo |
| 25% down | $1,906.57/mo |
| 30% down | $1,779.47/mo |
| 35% down | $1,652.36/mo |
| 40% down | $1,525.26/mo |
| 45% down | $1,398.15/mo |
| 50% down | $1,271.05/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.