Use the mortgage calculator to calculate the cost of buying a $563k 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 563,000 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 $563,000 house.
2% interest
| 0% down | $2,080.96/mo |
| 5% down | $1,976.91/mo |
| 10% down | $1,872.86/mo |
| 15% down | $1,768.81/mo |
| 20% down | $1,664.77/mo |
| 25% down | $1,560.72/mo |
| 30% down | $1,456.67/mo |
| 35% down | $1,352.62/mo |
| 40% down | $1,248.57/mo |
| 45% down | $1,144.53/mo |
| 50% down | $1,040.48/mo |
4% interest
| 0% down | $2,687.85/mo |
| 5% down | $2,553.46/mo |
| 10% down | $2,419.06/mo |
| 15% down | $2,284.67/mo |
| 20% down | $2,150.28/mo |
| 25% down | $2,015.89/mo |
| 30% down | $1,881.49/mo |
| 35% down | $1,747.10/mo |
| 40% down | $1,612.71/mo |
| 45% down | $1,478.32/mo |
| 50% down | $1,343.92/mo |
6% interest
| 0% down | $3,375.47/mo |
| 5% down | $3,206.70/mo |
| 10% down | $3,037.92/mo |
| 15% down | $2,869.15/mo |
| 20% down | $2,700.38/mo |
| 25% down | $2,531.60/mo |
| 30% down | $2,362.83/mo |
| 35% down | $2,194.06/mo |
| 40% down | $2,025.28/mo |
| 45% down | $1,856.51/mo |
| 50% down | $1,687.73/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.