Use the mortgage calculator to calculate the cost of buying a $557k 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 557,000 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 $557,000 house.
$557,000 Home at 2%
| 0% down | $2,058.78/mo |
| 5% down | $1,955.84/mo |
| 10% down | $1,852.90/mo |
| 15% down | $1,749.96/mo |
| 20% down | $1,647.02/mo |
| 25% down | $1,544.09/mo |
| 30% down | $1,441.15/mo |
| 35% down | $1,338.21/mo |
| 40% down | $1,235.27/mo |
| 45% down | $1,132.33/mo |
| 50% down | $1,029.39/mo |
$557,000 Home at 4%
| 0% down | $2,659.20/mo |
| 5% down | $2,526.24/mo |
| 10% down | $2,393.28/mo |
| 15% down | $2,260.32/mo |
| 20% down | $2,127.36/mo |
| 25% down | $1,994.40/mo |
| 30% down | $1,861.44/mo |
| 35% down | $1,728.48/mo |
| 40% down | $1,595.52/mo |
| 45% down | $1,462.56/mo |
| 50% down | $1,329.60/mo |
$557,000 Home at 6%
| 0% down | $3,339.50/mo |
| 5% down | $3,172.52/mo |
| 10% down | $3,005.55/mo |
| 15% down | $2,838.57/mo |
| 20% down | $2,671.60/mo |
| 25% down | $2,504.62/mo |
| 30% down | $2,337.65/mo |
| 35% down | $2,170.67/mo |
| 40% down | $2,003.70/mo |
| 45% down | $1,836.72/mo |
| 50% down | $1,669.75/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.