Use the mortgage calculator to calculate the cost of buying a $44k 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 44,000 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 $44,000 house.
2% interest
| 0% down | $162.63/mo |
| 5% down | $154.50/mo |
| 10% down | $146.37/mo |
| 15% down | $138.24/mo |
| 20% down | $130.11/mo |
| 25% down | $121.97/mo |
| 30% down | $113.84/mo |
| 35% down | $105.71/mo |
| 40% down | $97.58/mo |
| 45% down | $89.45/mo |
| 50% down | $81.32/mo |
4% interest
| 0% down | $210.06/mo |
| 5% down | $199.56/mo |
| 10% down | $189.06/mo |
| 15% down | $178.55/mo |
| 20% down | $168.05/mo |
| 25% down | $157.55/mo |
| 30% down | $147.04/mo |
| 35% down | $136.54/mo |
| 40% down | $126.04/mo |
| 45% down | $115.53/mo |
| 50% down | $105.03/mo |
6% interest
| 0% down | $263.80/mo |
| 5% down | $250.61/mo |
| 10% down | $237.42/mo |
| 15% down | $224.23/mo |
| 20% down | $211.04/mo |
| 25% down | $197.85/mo |
| 30% down | $184.66/mo |
| 35% down | $171.47/mo |
| 40% down | $158.28/mo |
| 45% down | $145.09/mo |
| 50% down | $131.90/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.