$505,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $505k 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 505,000 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 $505,000 house.
2% interest
0% down$1,866.58/mo
5% down$1,773.25/mo
10% down$1,679.92/mo
15% down$1,586.59/mo
20% down$1,493.26/mo
25% down$1,399.93/mo
30% down$1,306.60/mo
35% down$1,213.28/mo
40% down$1,119.95/mo
45% down$1,026.62/mo
50% down$933.29/mo
4% interest
0% down$2,410.95/mo
5% down$2,290.40/mo
10% down$2,169.85/mo
15% down$2,049.31/mo
20% down$1,928.76/mo
25% down$1,808.21/mo
30% down$1,687.66/mo
35% down$1,567.12/mo
40% down$1,446.57/mo
45% down$1,326.02/mo
50% down$1,205.47/mo
6% interest
0% down$3,027.73/mo
5% down$2,876.34/mo
10% down$2,724.96/mo
15% down$2,573.57/mo
20% down$2,422.18/mo
25% down$2,270.80/mo
30% down$2,119.41/mo
35% down$1,968.02/mo
40% down$1,816.64/mo
45% down$1,665.25/mo
50% down$1,513.87/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 505,000 house with a 20% down payment?
($404,000 loan. 30 year mortgage)
0.25%$1,164.95
0.50%$1,208.73
0.75%$1,253.55
1.00%$1,299.42
1.25%$1,346.34
1.50%$1,394.29
1.75%$1,443.26
2.00%$1,493.26
2.25%$1,544.27
2.50%$1,596.29
2.75%$1,649.29
3.00%$1,703.28
3.25%$1,758.23
3.50%$1,814.14
3.75%$1,870.99
4.00%$1,928.76
4.25%$1,987.44
4.50%$2,047.01
4.75%$2,107.46
5.00%$2,168.76
5.25%$2,230.90
5.50%$2,293.87
5.75%$2,357.63
6.00%$2,422.18
6.25%$2,487.50
6.50%$2,553.55
6.75%$2,620.34
7.00%$2,687.82
7.25%$2,755.99
7.50%$2,824.83
7.75%$2,894.31
8.00%$2,964.41
8.25%$3,035.12
8.50%$3,106.41
8.75%$3,178.27
9.00%$3,250.68
9.25%$3,323.61
9.50%$3,397.05
9.75%$3,470.98
10.00%$3,545.39
10.25%$3,620.25
10.50%$3,695.55
10.75%$3,771.26
11.00%$3,847.39
11.25%$3,923.90
11.50%$4,000.78
11.75%$4,078.02
12.00%$4,155.59