Use the mortgage calculator to calculate the cost of buying a $437k 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 437,000 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 $437,000 house.
2% interest
| 0% down | $1,615.24/mo |
| 5% down | $1,534.48/mo |
| 10% down | $1,453.71/mo |
| 15% down | $1,372.95/mo |
| 20% down | $1,292.19/mo |
| 25% down | $1,211.43/mo |
| 30% down | $1,130.67/mo |
| 35% down | $1,049.90/mo |
| 40% down | $969.14/mo |
| 45% down | $888.38/mo |
| 50% down | $807.62/mo |
4% interest
| 0% down | $2,086.30/mo |
| 5% down | $1,981.99/mo |
| 10% down | $1,877.67/mo |
| 15% down | $1,773.36/mo |
| 20% down | $1,669.04/mo |
| 25% down | $1,564.73/mo |
| 30% down | $1,460.41/mo |
| 35% down | $1,356.10/mo |
| 40% down | $1,251.78/mo |
| 45% down | $1,147.47/mo |
| 50% down | $1,043.15/mo |
6% interest
| 0% down | $2,620.04/mo |
| 5% down | $2,489.03/mo |
| 10% down | $2,358.03/mo |
| 15% down | $2,227.03/mo |
| 20% down | $2,096.03/mo |
| 25% down | $1,965.03/mo |
| 30% down | $1,834.03/mo |
| 35% down | $1,703.02/mo |
| 40% down | $1,572.02/mo |
| 45% down | $1,441.02/mo |
| 50% down | $1,310.02/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.