Use the mortgage calculator to calculate the cost of buying a $493k 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 493,000 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 $493,000 house.
$493,000 Home at 2%
| 0% down | $1,822.22/mo |
| 5% down | $1,731.11/mo |
| 10% down | $1,640.00/mo |
| 15% down | $1,548.89/mo |
| 20% down | $1,457.78/mo |
| 25% down | $1,366.67/mo |
| 30% down | $1,275.56/mo |
| 35% down | $1,184.45/mo |
| 40% down | $1,093.33/mo |
| 45% down | $1,002.22/mo |
| 50% down | $911.11/mo |
$493,000 Home at 4%
| 0% down | $2,353.66/mo |
| 5% down | $2,235.97/mo |
| 10% down | $2,118.29/mo |
| 15% down | $2,000.61/mo |
| 20% down | $1,882.93/mo |
| 25% down | $1,765.24/mo |
| 30% down | $1,647.56/mo |
| 35% down | $1,529.88/mo |
| 40% down | $1,412.19/mo |
| 45% down | $1,294.51/mo |
| 50% down | $1,176.83/mo |
$493,000 Home at 6%
| 0% down | $2,955.78/mo |
| 5% down | $2,807.99/mo |
| 10% down | $2,660.21/mo |
| 15% down | $2,512.42/mo |
| 20% down | $2,364.63/mo |
| 25% down | $2,216.84/mo |
| 30% down | $2,069.05/mo |
| 35% down | $1,921.26/mo |
| 40% down | $1,773.47/mo |
| 45% down | $1,625.68/mo |
| 50% down | $1,477.89/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.