Use the mortgage calculator to calculate the cost of buying a $602k 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 602,000 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 $602,000 house.
$602,000 Home at 2%
| 0% down | $2,225.11/mo |
| 5% down | $2,113.85/mo |
| 10% down | $2,002.60/mo |
| 15% down | $1,891.34/mo |
| 20% down | $1,780.09/mo |
| 25% down | $1,668.83/mo |
| 30% down | $1,557.58/mo |
| 35% down | $1,446.32/mo |
| 40% down | $1,335.07/mo |
| 45% down | $1,223.81/mo |
| 50% down | $1,112.55/mo |
$602,000 Home at 4%
| 0% down | $2,874.04/mo |
| 5% down | $2,730.34/mo |
| 10% down | $2,586.64/mo |
| 15% down | $2,442.93/mo |
| 20% down | $2,299.23/mo |
| 25% down | $2,155.53/mo |
| 30% down | $2,011.83/mo |
| 35% down | $1,868.13/mo |
| 40% down | $1,724.42/mo |
| 45% down | $1,580.72/mo |
| 50% down | $1,437.02/mo |
$602,000 Home at 6%
| 0% down | $3,609.29/mo |
| 5% down | $3,428.83/mo |
| 10% down | $3,248.36/mo |
| 15% down | $3,067.90/mo |
| 20% down | $2,887.44/mo |
| 25% down | $2,706.97/mo |
| 30% down | $2,526.51/mo |
| 35% down | $2,346.04/mo |
| 40% down | $2,165.58/mo |
| 45% down | $1,985.11/mo |
| 50% down | $1,804.65/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.