Use the mortgage calculator to calculate the cost of buying a $618k 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 618,000 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 $618,000 house.
2% interest
| 0% down | $2,284.25/mo |
| 5% down | $2,170.04/mo |
| 10% down | $2,055.82/mo |
| 15% down | $1,941.61/mo |
| 20% down | $1,827.40/mo |
| 25% down | $1,713.19/mo |
| 30% down | $1,598.97/mo |
| 35% down | $1,484.76/mo |
| 40% down | $1,370.55/mo |
| 45% down | $1,256.34/mo |
| 50% down | $1,142.12/mo |
4% interest
| 0% down | $2,950.43/mo |
| 5% down | $2,802.91/mo |
| 10% down | $2,655.38/mo |
| 15% down | $2,507.86/mo |
| 20% down | $2,360.34/mo |
| 25% down | $2,212.82/mo |
| 30% down | $2,065.30/mo |
| 35% down | $1,917.78/mo |
| 40% down | $1,770.26/mo |
| 45% down | $1,622.73/mo |
| 50% down | $1,475.21/mo |
6% interest
| 0% down | $3,705.22/mo |
| 5% down | $3,519.96/mo |
| 10% down | $3,334.70/mo |
| 15% down | $3,149.44/mo |
| 20% down | $2,964.18/mo |
| 25% down | $2,778.92/mo |
| 30% down | $2,593.66/mo |
| 35% down | $2,408.39/mo |
| 40% down | $2,223.13/mo |
| 45% down | $2,037.87/mo |
| 50% down | $1,852.61/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.