Use the mortgage calculator to calculate the cost of buying a $481k 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 481,000 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 $481,000 house.
$481,000 Home at 2%
| 0% down | $1,777.87/mo |
| 5% down | $1,688.98/mo |
| 10% down | $1,600.08/mo |
| 15% down | $1,511.19/mo |
| 20% down | $1,422.30/mo |
| 25% down | $1,333.40/mo |
| 30% down | $1,244.51/mo |
| 35% down | $1,155.62/mo |
| 40% down | $1,066.72/mo |
| 45% down | $977.83/mo |
| 50% down | $888.93/mo |
$481,000 Home at 4%
| 0% down | $2,296.37/mo |
| 5% down | $2,181.55/mo |
| 10% down | $2,066.73/mo |
| 15% down | $1,951.91/mo |
| 20% down | $1,837.09/mo |
| 25% down | $1,722.28/mo |
| 30% down | $1,607.46/mo |
| 35% down | $1,492.64/mo |
| 40% down | $1,377.82/mo |
| 45% down | $1,263.00/mo |
| 50% down | $1,148.18/mo |
$481,000 Home at 6%
| 0% down | $2,883.84/mo |
| 5% down | $2,739.65/mo |
| 10% down | $2,595.45/mo |
| 15% down | $2,451.26/mo |
| 20% down | $2,307.07/mo |
| 25% down | $2,162.88/mo |
| 30% down | $2,018.69/mo |
| 35% down | $1,874.49/mo |
| 40% down | $1,730.30/mo |
| 45% down | $1,586.11/mo |
| 50% down | $1,441.92/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.