Use the mortgage calculator to calculate the cost of buying a $589k 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 589,000 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 $589,000 house.
$589,000 Home at 2%
| 0% down | $2,177.06/mo |
| 5% down | $2,068.21/mo |
| 10% down | $1,959.35/mo |
| 15% down | $1,850.50/mo |
| 20% down | $1,741.65/mo |
| 25% down | $1,632.79/mo |
| 30% down | $1,523.94/mo |
| 35% down | $1,415.09/mo |
| 40% down | $1,306.24/mo |
| 45% down | $1,197.38/mo |
| 50% down | $1,088.53/mo |
$589,000 Home at 4%
| 0% down | $2,811.98/mo |
| 5% down | $2,671.38/mo |
| 10% down | $2,530.78/mo |
| 15% down | $2,390.18/mo |
| 20% down | $2,249.58/mo |
| 25% down | $2,108.98/mo |
| 30% down | $1,968.38/mo |
| 35% down | $1,827.78/mo |
| 40% down | $1,687.19/mo |
| 45% down | $1,546.59/mo |
| 50% down | $1,405.99/mo |
$589,000 Home at 6%
| 0% down | $3,531.35/mo |
| 5% down | $3,354.78/mo |
| 10% down | $3,178.22/mo |
| 15% down | $3,001.65/mo |
| 20% down | $2,825.08/mo |
| 25% down | $2,648.51/mo |
| 30% down | $2,471.95/mo |
| 35% down | $2,295.38/mo |
| 40% down | $2,118.81/mo |
| 45% down | $1,942.24/mo |
| 50% down | $1,765.68/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.