Use the mortgage calculator to calculate the cost of buying a $580k 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 580,000 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 $580,000 house.
2% interest
| 0% down | $2,143.79/mo |
| 5% down | $2,036.60/mo |
| 10% down | $1,929.41/mo |
| 15% down | $1,822.22/mo |
| 20% down | $1,715.03/mo |
| 25% down | $1,607.84/mo |
| 30% down | $1,500.66/mo |
| 35% down | $1,393.47/mo |
| 40% down | $1,286.28/mo |
| 45% down | $1,179.09/mo |
| 50% down | $1,071.90/mo |
4% interest
| 0% down | $2,769.01/mo |
| 5% down | $2,630.56/mo |
| 10% down | $2,492.11/mo |
| 15% down | $2,353.66/mo |
| 20% down | $2,215.21/mo |
| 25% down | $2,076.76/mo |
| 30% down | $1,938.31/mo |
| 35% down | $1,799.86/mo |
| 40% down | $1,661.41/mo |
| 45% down | $1,522.95/mo |
| 50% down | $1,384.50/mo |
6% interest
| 0% down | $3,477.39/mo |
| 5% down | $3,303.52/mo |
| 10% down | $3,129.65/mo |
| 15% down | $2,955.78/mo |
| 20% down | $2,781.91/mo |
| 25% down | $2,608.04/mo |
| 30% down | $2,434.18/mo |
| 35% down | $2,260.31/mo |
| 40% down | $2,086.44/mo |
| 45% down | $1,912.57/mo |
| 50% down | $1,738.70/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.