Use the mortgage calculator to calculate the cost of buying a $58k 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 58,000 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 $58,000 house.
$58,000 Home at 2%
| 0% down | $214.38/mo |
| 5% down | $203.66/mo |
| 10% down | $192.94/mo |
| 15% down | $182.22/mo |
| 20% down | $171.50/mo |
| 25% down | $160.78/mo |
| 30% down | $150.07/mo |
| 35% down | $139.35/mo |
| 40% down | $128.63/mo |
| 45% down | $117.91/mo |
| 50% down | $107.19/mo |
$58,000 Home at 4%
| 0% down | $276.90/mo |
| 5% down | $263.06/mo |
| 10% down | $249.21/mo |
| 15% down | $235.37/mo |
| 20% down | $221.52/mo |
| 25% down | $207.68/mo |
| 30% down | $193.83/mo |
| 35% down | $179.99/mo |
| 40% down | $166.14/mo |
| 45% down | $152.30/mo |
| 50% down | $138.45/mo |
$58,000 Home at 6%
| 0% down | $347.74/mo |
| 5% down | $330.35/mo |
| 10% down | $312.97/mo |
| 15% down | $295.58/mo |
| 20% down | $278.19/mo |
| 25% down | $260.80/mo |
| 30% down | $243.42/mo |
| 35% down | $226.03/mo |
| 40% down | $208.64/mo |
| 45% down | $191.26/mo |
| 50% down | $173.87/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.