Use the mortgage calculator to calculate the cost of buying a $460k 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 460,000 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 $460,000 house.
2% interest
| 0% down | $1,700.25/mo |
| 5% down | $1,615.24/mo |
| 10% down | $1,530.22/mo |
| 15% down | $1,445.21/mo |
| 20% down | $1,360.20/mo |
| 25% down | $1,275.19/mo |
| 30% down | $1,190.17/mo |
| 35% down | $1,105.16/mo |
| 40% down | $1,020.15/mo |
| 45% down | $935.14/mo |
| 50% down | $850.12/mo |
4% interest
| 0% down | $2,196.11/mo |
| 5% down | $2,086.30/mo |
| 10% down | $1,976.50/mo |
| 15% down | $1,866.69/mo |
| 20% down | $1,756.89/mo |
| 25% down | $1,647.08/mo |
| 30% down | $1,537.28/mo |
| 35% down | $1,427.47/mo |
| 40% down | $1,317.67/mo |
| 45% down | $1,207.86/mo |
| 50% down | $1,098.06/mo |
6% interest
| 0% down | $2,757.93/mo |
| 5% down | $2,620.04/mo |
| 10% down | $2,482.14/mo |
| 15% down | $2,344.24/mo |
| 20% down | $2,206.35/mo |
| 25% down | $2,068.45/mo |
| 30% down | $1,930.55/mo |
| 35% down | $1,792.66/mo |
| 40% down | $1,654.76/mo |
| 45% down | $1,516.86/mo |
| 50% down | $1,378.97/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.