$588,000 Mortgage Loan Payments and Costs

$
$
%
years
%

Loan Summary


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.
2% interest
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
4% interest
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
6% interest
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.
What's the payment on a 588,000 house with a 20% down payment?
($470,400 loan. 30 year mortgage)
0.25%$1,356.42
0.50%$1,407.39
0.75%$1,459.58
1.00%$1,512.99
1.25%$1,567.62
1.50%$1,623.45
1.75%$1,680.47
2.00%$1,738.69
2.25%$1,798.09
2.50%$1,858.65
2.75%$1,920.37
3.00%$1,983.23
3.25%$2,047.21
3.50%$2,112.31
3.75%$2,178.50
4.00%$2,245.76
4.25%$2,314.09
4.50%$2,383.45
4.75%$2,453.83
5.00%$2,525.21
5.25%$2,597.57
5.50%$2,670.88
5.75%$2,745.13
6.00%$2,820.29
6.25%$2,896.33
6.50%$2,973.25
6.75%$3,051.01
7.00%$3,129.58
7.25%$3,208.96
7.50%$3,289.11
7.75%$3,370.00
8.00%$3,451.63
8.25%$3,533.96
8.50%$3,616.97
8.75%$3,700.64
9.00%$3,784.94
9.25%$3,869.87
9.50%$3,955.38
9.75%$4,041.46
10.00%$4,128.10
10.25%$4,215.26
10.50%$4,302.93
10.75%$4,391.10
11.00%$4,479.73
11.25%$4,568.81
11.50%$4,658.33
11.75%$4,748.26
12.00%$4,838.59