Use the mortgage calculator to calculate the cost of buying a $485k 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 485,000 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 $485,000 house.
$485,000 Home at 2%
| 0% down | $1,792.65/mo |
| 5% down | $1,703.02/mo |
| 10% down | $1,613.39/mo |
| 15% down | $1,523.76/mo |
| 20% down | $1,434.12/mo |
| 25% down | $1,344.49/mo |
| 30% down | $1,254.86/mo |
| 35% down | $1,165.23/mo |
| 40% down | $1,075.59/mo |
| 45% down | $985.96/mo |
| 50% down | $896.33/mo |
$485,000 Home at 4%
| 0% down | $2,315.46/mo |
| 5% down | $2,199.69/mo |
| 10% down | $2,083.92/mo |
| 15% down | $1,968.14/mo |
| 20% down | $1,852.37/mo |
| 25% down | $1,736.60/mo |
| 30% down | $1,620.82/mo |
| 35% down | $1,505.05/mo |
| 40% down | $1,389.28/mo |
| 45% down | $1,273.51/mo |
| 50% down | $1,157.73/mo |
$485,000 Home at 6%
| 0% down | $2,907.82/mo |
| 5% down | $2,762.43/mo |
| 10% down | $2,617.04/mo |
| 15% down | $2,471.65/mo |
| 20% down | $2,326.26/mo |
| 25% down | $2,180.87/mo |
| 30% down | $2,035.47/mo |
| 35% down | $1,890.08/mo |
| 40% down | $1,744.69/mo |
| 45% down | $1,599.30/mo |
| 50% down | $1,453.91/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.