Use the mortgage calculator to calculate the cost of buying a $431k 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 431,000 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 $431,000 house.
2% interest
| 0% down | $1,593.06/mo |
| 5% down | $1,513.41/mo |
| 10% down | $1,433.75/mo |
| 15% down | $1,354.10/mo |
| 20% down | $1,274.45/mo |
| 25% down | $1,194.79/mo |
| 30% down | $1,115.14/mo |
| 35% down | $1,035.49/mo |
| 40% down | $955.84/mo |
| 45% down | $876.18/mo |
| 50% down | $796.53/mo |
4% interest
| 0% down | $2,057.66/mo |
| 5% down | $1,954.78/mo |
| 10% down | $1,851.89/mo |
| 15% down | $1,749.01/mo |
| 20% down | $1,646.13/mo |
| 25% down | $1,543.24/mo |
| 30% down | $1,440.36/mo |
| 35% down | $1,337.48/mo |
| 40% down | $1,234.60/mo |
| 45% down | $1,131.71/mo |
| 50% down | $1,028.83/mo |
6% interest
| 0% down | $2,584.06/mo |
| 5% down | $2,454.86/mo |
| 10% down | $2,325.66/mo |
| 15% down | $2,196.45/mo |
| 20% down | $2,067.25/mo |
| 25% down | $1,938.05/mo |
| 30% down | $1,808.84/mo |
| 35% down | $1,679.64/mo |
| 40% down | $1,550.44/mo |
| 45% down | $1,421.23/mo |
| 50% down | $1,292.03/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.