Use the mortgage calculator to calculate the cost of buying a $625k 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 625,000 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 $625,000 house.
$625,000 Home at 2%
| 0% down | $2,310.12/mo |
| 5% down | $2,194.62/mo |
| 10% down | $2,079.11/mo |
| 15% down | $1,963.60/mo |
| 20% down | $1,848.10/mo |
| 25% down | $1,732.59/mo |
| 30% down | $1,617.09/mo |
| 35% down | $1,501.58/mo |
| 40% down | $1,386.07/mo |
| 45% down | $1,270.57/mo |
| 50% down | $1,155.06/mo |
$625,000 Home at 4%
| 0% down | $2,983.85/mo |
| 5% down | $2,834.65/mo |
| 10% down | $2,685.46/mo |
| 15% down | $2,536.27/mo |
| 20% down | $2,387.08/mo |
| 25% down | $2,237.88/mo |
| 30% down | $2,088.69/mo |
| 35% down | $1,939.50/mo |
| 40% down | $1,790.31/mo |
| 45% down | $1,641.12/mo |
| 50% down | $1,491.92/mo |
$625,000 Home at 6%
| 0% down | $3,747.19/mo |
| 5% down | $3,559.83/mo |
| 10% down | $3,372.47/mo |
| 15% down | $3,185.11/mo |
| 20% down | $2,997.75/mo |
| 25% down | $2,810.39/mo |
| 30% down | $2,623.03/mo |
| 35% down | $2,435.67/mo |
| 40% down | $2,248.31/mo |
| 45% down | $2,060.95/mo |
| 50% down | $1,873.60/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.