Use the mortgage calculator to calculate the cost of buying a $624k 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 624,000 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 $624,000 house.
2% interest
| 0% down | $2,306.43/mo |
| 5% down | $2,191.10/mo |
| 10% down | $2,075.78/mo |
| 15% down | $1,960.46/mo |
| 20% down | $1,845.14/mo |
| 25% down | $1,729.82/mo |
| 30% down | $1,614.50/mo |
| 35% down | $1,499.18/mo |
| 40% down | $1,383.86/mo |
| 45% down | $1,268.53/mo |
| 50% down | $1,153.21/mo |
4% interest
| 0% down | $2,979.07/mo |
| 5% down | $2,830.12/mo |
| 10% down | $2,681.16/mo |
| 15% down | $2,532.21/mo |
| 20% down | $2,383.26/mo |
| 25% down | $2,234.30/mo |
| 30% down | $2,085.35/mo |
| 35% down | $1,936.40/mo |
| 40% down | $1,787.44/mo |
| 45% down | $1,638.49/mo |
| 50% down | $1,489.54/mo |
6% interest
| 0% down | $3,741.20/mo |
| 5% down | $3,554.14/mo |
| 10% down | $3,367.08/mo |
| 15% down | $3,180.02/mo |
| 20% down | $2,992.96/mo |
| 25% down | $2,805.90/mo |
| 30% down | $2,618.84/mo |
| 35% down | $2,431.78/mo |
| 40% down | $2,244.72/mo |
| 45% down | $2,057.66/mo |
| 50% down | $1,870.60/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
