$587,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $587k 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 587,000 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 $587,000 house.
2% interest
0% down$2,169.67/mo
5% down$2,061.18/mo
10% down$1,952.70/mo
15% down$1,844.22/mo
20% down$1,735.73/mo
25% down$1,627.25/mo
30% down$1,518.77/mo
35% down$1,410.28/mo
40% down$1,301.80/mo
45% down$1,193.32/mo
50% down$1,084.83/mo
4% interest
0% down$2,802.43/mo
5% down$2,662.31/mo
10% down$2,522.19/mo
15% down$2,382.06/mo
20% down$2,241.94/mo
25% down$2,101.82/mo
30% down$1,961.70/mo
35% down$1,821.58/mo
40% down$1,681.46/mo
45% down$1,541.34/mo
50% down$1,401.21/mo
6% interest
0% down$3,519.36/mo
5% down$3,343.39/mo
10% down$3,167.43/mo
15% down$2,991.46/mo
20% down$2,815.49/mo
25% down$2,639.52/mo
30% down$2,463.55/mo
35% down$2,287.59/mo
40% down$2,111.62/mo
45% down$1,935.65/mo
50% down$1,759.68/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 587,000 house with a 20% down payment?
($469,600 loan. 30 year mortgage)
0.25%$1,354.11
0.50%$1,404.99
0.75%$1,457.10
1.00%$1,510.42
1.25%$1,564.95
1.50%$1,620.68
1.75%$1,677.62
2.00%$1,735.73
2.25%$1,795.03
2.50%$1,855.49
2.75%$1,917.10
3.00%$1,979.85
3.25%$2,043.73
3.50%$2,108.71
3.75%$2,174.79
4.00%$2,241.94
4.25%$2,310.15
4.50%$2,379.39
4.75%$2,449.66
5.00%$2,520.91
5.25%$2,593.15
5.50%$2,666.34
5.75%$2,740.46
6.00%$2,815.49
6.25%$2,891.41
6.50%$2,968.19
6.75%$3,045.82
7.00%$3,124.26
7.25%$3,203.50
7.50%$3,283.51
7.75%$3,364.27
8.00%$3,445.76
8.25%$3,527.95
8.50%$3,610.82
8.75%$3,694.35
9.00%$3,778.51
9.25%$3,863.28
9.50%$3,948.65
9.75%$4,034.59
10.00%$4,121.08
10.25%$4,208.09
10.50%$4,295.62
10.75%$4,383.63
11.00%$4,472.11
11.25%$4,561.04
11.50%$4,650.41
11.75%$4,740.19
12.00%$4,830.36