Use the mortgage calculator to calculate the cost of buying a $588k 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 588,000 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 $588,000 house.
$588,000 Home at 2%
| 0% down | $2,173.36/mo |
| 5% down | $2,064.69/mo |
| 10% down | $1,956.03/mo |
| 15% down | $1,847.36/mo |
| 20% down | $1,738.69/mo |
| 25% down | $1,630.02/mo |
| 30% down | $1,521.35/mo |
| 35% down | $1,412.69/mo |
| 40% down | $1,304.02/mo |
| 45% down | $1,195.35/mo |
| 50% down | $1,086.68/mo |
$588,000 Home at 4%
| 0% down | $2,807.20/mo |
| 5% down | $2,666.84/mo |
| 10% down | $2,526.48/mo |
| 15% down | $2,386.12/mo |
| 20% down | $2,245.76/mo |
| 25% down | $2,105.40/mo |
| 30% down | $1,965.04/mo |
| 35% down | $1,824.68/mo |
| 40% down | $1,684.32/mo |
| 45% down | $1,543.96/mo |
| 50% down | $1,403.60/mo |
$588,000 Home at 6%
| 0% down | $3,525.36/mo |
| 5% down | $3,349.09/mo |
| 10% down | $3,172.82/mo |
| 15% down | $2,996.55/mo |
| 20% down | $2,820.29/mo |
| 25% down | $2,644.02/mo |
| 30% down | $2,467.75/mo |
| 35% down | $2,291.48/mo |
| 40% down | $2,115.21/mo |
| 45% down | $1,938.95/mo |
| 50% down | $1,762.68/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.