$508,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $508k 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 508,000 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 $508,000 house.
2% interest
0% down$1,877.67/mo
5% down$1,783.78/mo
10% down$1,689.90/mo
15% down$1,596.02/mo
20% down$1,502.13/mo
25% down$1,408.25/mo
30% down$1,314.37/mo
35% down$1,220.48/mo
40% down$1,126.60/mo
45% down$1,032.72/mo
50% down$938.83/mo
4% interest
0% down$2,425.27/mo
5% down$2,304.01/mo
10% down$2,182.74/mo
15% down$2,061.48/mo
20% down$1,940.22/mo
25% down$1,818.95/mo
30% down$1,697.69/mo
35% down$1,576.43/mo
40% down$1,455.16/mo
45% down$1,333.90/mo
50% down$1,212.63/mo
6% interest
0% down$3,045.72/mo
5% down$2,893.43/mo
10% down$2,741.15/mo
15% down$2,588.86/mo
20% down$2,436.57/mo
25% down$2,284.29/mo
30% down$2,132.00/mo
35% down$1,979.72/mo
40% down$1,827.43/mo
45% down$1,675.14/mo
50% down$1,522.86/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 508,000 house with a 20% down payment?
($406,400 loan. 30 year mortgage)
0.25%$1,171.87
0.50%$1,215.91
0.75%$1,261.00
1.00%$1,307.14
1.25%$1,354.33
1.50%$1,402.57
1.75%$1,451.84
2.00%$1,502.13
2.25%$1,553.45
2.50%$1,605.77
2.75%$1,659.09
3.00%$1,713.40
3.25%$1,768.68
3.50%$1,824.92
3.75%$1,882.10
4.00%$1,940.22
4.25%$1,999.24
4.50%$2,059.17
4.75%$2,119.97
5.00%$2,181.64
5.25%$2,244.16
5.50%$2,307.49
5.75%$2,371.64
6.00%$2,436.57
6.25%$2,502.27
6.50%$2,568.72
6.75%$2,635.90
7.00%$2,703.79
7.25%$2,772.36
7.50%$2,841.61
7.75%$2,911.50
8.00%$2,982.02
8.25%$3,053.15
8.50%$3,124.86
8.75%$3,197.15
9.00%$3,269.99
9.25%$3,343.35
9.50%$3,417.23
9.75%$3,491.60
10.00%$3,566.45
10.25%$3,641.76
10.50%$3,717.50
10.75%$3,793.67
11.00%$3,870.24
11.25%$3,947.21
11.50%$4,024.54
11.75%$4,102.24
12.00%$4,180.28