$487,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $487k 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 487,000 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 $487,000 house.
2% interest
0% down$1,800.05/mo
5% down$1,710.04/mo
10% down$1,620.04/mo
15% down$1,530.04/mo
20% down$1,440.04/mo
25% down$1,350.04/mo
30% down$1,260.03/mo
35% down$1,170.03/mo
40% down$1,080.03/mo
45% down$990.03/mo
50% down$900.02/mo
4% interest
0% down$2,325.01/mo
5% down$2,208.76/mo
10% down$2,092.51/mo
15% down$1,976.26/mo
20% down$1,860.01/mo
25% down$1,743.76/mo
30% down$1,627.51/mo
35% down$1,511.26/mo
40% down$1,395.01/mo
45% down$1,278.76/mo
50% down$1,162.51/mo
6% interest
0% down$2,919.81/mo
5% down$2,773.82/mo
10% down$2,627.83/mo
15% down$2,481.84/mo
20% down$2,335.85/mo
25% down$2,189.86/mo
30% down$2,043.87/mo
35% down$1,897.88/mo
40% down$1,751.89/mo
45% down$1,605.90/mo
50% down$1,459.91/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 487,000 house with a 20% down payment?
($389,600 loan. 30 year mortgage)
0.25%$1,123.43
0.50%$1,165.64
0.75%$1,208.87
1.00%$1,253.11
1.25%$1,298.35
1.50%$1,344.59
1.75%$1,391.82
2.00%$1,440.04
2.25%$1,489.23
2.50%$1,539.39
2.75%$1,590.51
3.00%$1,642.57
3.25%$1,695.56
3.50%$1,749.48
3.75%$1,804.30
4.00%$1,860.01
4.25%$1,916.60
4.50%$1,974.05
4.75%$2,032.34
5.00%$2,091.46
5.25%$2,151.39
5.50%$2,212.11
5.75%$2,273.60
6.00%$2,335.85
6.25%$2,398.83
6.50%$2,462.54
6.75%$2,526.94
7.00%$2,592.02
7.25%$2,657.76
7.50%$2,724.14
7.75%$2,791.14
8.00%$2,858.75
8.25%$2,926.93
8.50%$2,995.69
8.75%$3,064.98
9.00%$3,134.81
9.25%$3,205.14
9.50%$3,275.97
9.75%$3,347.27
10.00%$3,419.02
10.25%$3,491.21
10.50%$3,563.82
10.75%$3,636.84
11.00%$3,710.25
11.25%$3,784.03
11.50%$3,858.18
11.75%$3,932.66
12.00%$4,007.47