Use the mortgage calculator to calculate the cost of buying a $585k 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 585,000 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 $585,000 house.
$585,000 Home at 2%
| 0% down | $2,162.27/mo |
| 5% down | $2,054.16/mo |
| 10% down | $1,946.05/mo |
| 15% down | $1,837.93/mo |
| 20% down | $1,729.82/mo |
| 25% down | $1,621.71/mo |
| 30% down | $1,513.59/mo |
| 35% down | $1,405.48/mo |
| 40% down | $1,297.36/mo |
| 45% down | $1,189.25/mo |
| 50% down | $1,081.14/mo |
$585,000 Home at 4%
| 0% down | $2,792.88/mo |
| 5% down | $2,653.24/mo |
| 10% down | $2,513.59/mo |
| 15% down | $2,373.95/mo |
| 20% down | $2,234.30/mo |
| 25% down | $2,094.66/mo |
| 30% down | $1,955.02/mo |
| 35% down | $1,815.37/mo |
| 40% down | $1,675.73/mo |
| 45% down | $1,536.08/mo |
| 50% down | $1,396.44/mo |
$585,000 Home at 6%
| 0% down | $3,507.37/mo |
| 5% down | $3,332.00/mo |
| 10% down | $3,156.63/mo |
| 15% down | $2,981.26/mo |
| 20% down | $2,805.90/mo |
| 25% down | $2,630.53/mo |
| 30% down | $2,455.16/mo |
| 35% down | $2,279.79/mo |
| 40% down | $2,104.42/mo |
| 45% down | $1,929.05/mo |
| 50% down | $1,753.69/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.