Use the mortgage calculator to calculate the cost of buying a $621k 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 621,000 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 $621,000 house.
2% interest
| 0% down | $2,295.34/mo |
| 5% down | $2,180.57/mo |
| 10% down | $2,065.80/mo |
| 15% down | $1,951.04/mo |
| 20% down | $1,836.27/mo |
| 25% down | $1,721.50/mo |
| 30% down | $1,606.74/mo |
| 35% down | $1,491.97/mo |
| 40% down | $1,377.20/mo |
| 45% down | $1,262.44/mo |
| 50% down | $1,147.67/mo |
4% interest
| 0% down | $2,964.75/mo |
| 5% down | $2,816.51/mo |
| 10% down | $2,668.27/mo |
| 15% down | $2,520.04/mo |
| 20% down | $2,371.80/mo |
| 25% down | $2,223.56/mo |
| 30% down | $2,075.32/mo |
| 35% down | $1,927.09/mo |
| 40% down | $1,778.85/mo |
| 45% down | $1,630.61/mo |
| 50% down | $1,482.37/mo |
6% interest
| 0% down | $3,723.21/mo |
| 5% down | $3,537.05/mo |
| 10% down | $3,350.89/mo |
| 15% down | $3,164.73/mo |
| 20% down | $2,978.57/mo |
| 25% down | $2,792.41/mo |
| 30% down | $2,606.25/mo |
| 35% down | $2,420.09/mo |
| 40% down | $2,233.93/mo |
| 45% down | $2,047.76/mo |
| 50% down | $1,861.60/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.