Use the mortgage calculator to calculate the cost of buying a $49k 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 49,000 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 $49,000 house.
2% interest
| 0% down | $181.11/mo |
| 5% down | $172.06/mo |
| 10% down | $163.00/mo |
| 15% down | $153.95/mo |
| 20% down | $144.89/mo |
| 25% down | $135.84/mo |
| 30% down | $126.78/mo |
| 35% down | $117.72/mo |
| 40% down | $108.67/mo |
| 45% down | $99.61/mo |
| 50% down | $90.56/mo |
4% interest
| 0% down | $233.93/mo |
| 5% down | $222.24/mo |
| 10% down | $210.54/mo |
| 15% down | $198.84/mo |
| 20% down | $187.15/mo |
| 25% down | $175.45/mo |
| 30% down | $163.75/mo |
| 35% down | $152.06/mo |
| 40% down | $140.36/mo |
| 45% down | $128.66/mo |
| 50% down | $116.97/mo |
6% interest
| 0% down | $293.78/mo |
| 5% down | $279.09/mo |
| 10% down | $264.40/mo |
| 15% down | $249.71/mo |
| 20% down | $235.02/mo |
| 25% down | $220.33/mo |
| 30% down | $205.65/mo |
| 35% down | $190.96/mo |
| 40% down | $176.27/mo |
| 45% down | $161.58/mo |
| 50% down | $146.89/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.