Use the mortgage calculator to calculate the cost of buying a $46k 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 46,000 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 $46,000 house.
2% interest
| 0% down | $170.02/mo |
| 5% down | $161.52/mo |
| 10% down | $153.02/mo |
| 15% down | $144.52/mo |
| 20% down | $136.02/mo |
| 25% down | $127.52/mo |
| 30% down | $119.02/mo |
| 35% down | $110.52/mo |
| 40% down | $102.01/mo |
| 45% down | $93.51/mo |
| 50% down | $85.01/mo |
4% interest
| 0% down | $219.61/mo |
| 5% down | $208.63/mo |
| 10% down | $197.65/mo |
| 15% down | $186.67/mo |
| 20% down | $175.69/mo |
| 25% down | $164.71/mo |
| 30% down | $153.73/mo |
| 35% down | $142.75/mo |
| 40% down | $131.77/mo |
| 45% down | $120.79/mo |
| 50% down | $109.81/mo |
6% interest
| 0% down | $275.79/mo |
| 5% down | $262.00/mo |
| 10% down | $248.21/mo |
| 15% down | $234.42/mo |
| 20% down | $220.63/mo |
| 25% down | $206.84/mo |
| 30% down | $193.06/mo |
| 35% down | $179.27/mo |
| 40% down | $165.48/mo |
| 45% down | $151.69/mo |
| 50% down | $137.90/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.