Use the mortgage calculator to calculate the cost of buying a $542k 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 542,000 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 $542,000 house.
$542,000 Home at 2%
| 0% down | $2,003.34/mo |
| 5% down | $1,903.17/mo |
| 10% down | $1,803.00/mo |
| 15% down | $1,702.84/mo |
| 20% down | $1,602.67/mo |
| 25% down | $1,502.50/mo |
| 30% down | $1,402.34/mo |
| 35% down | $1,302.17/mo |
| 40% down | $1,202.00/mo |
| 45% down | $1,101.84/mo |
| 50% down | $1,001.67/mo |
$542,000 Home at 4%
| 0% down | $2,587.59/mo |
| 5% down | $2,458.21/mo |
| 10% down | $2,328.83/mo |
| 15% down | $2,199.45/mo |
| 20% down | $2,070.07/mo |
| 25% down | $1,940.69/mo |
| 30% down | $1,811.31/mo |
| 35% down | $1,681.93/mo |
| 40% down | $1,552.55/mo |
| 45% down | $1,423.17/mo |
| 50% down | $1,293.80/mo |
$542,000 Home at 6%
| 0% down | $3,249.56/mo |
| 5% down | $3,087.09/mo |
| 10% down | $2,924.61/mo |
| 15% down | $2,762.13/mo |
| 20% down | $2,599.65/mo |
| 25% down | $2,437.17/mo |
| 30% down | $2,274.69/mo |
| 35% down | $2,112.22/mo |
| 40% down | $1,949.74/mo |
| 45% down | $1,787.26/mo |
| 50% down | $1,624.78/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.