Use the mortgage calculator to calculate the cost of buying a $629k 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 629,000 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 $629,000 house.
2% interest
| 0% down | $2,324.91/mo |
| 5% down | $2,208.66/mo |
| 10% down | $2,092.42/mo |
| 15% down | $1,976.17/mo |
| 20% down | $1,859.93/mo |
| 25% down | $1,743.68/mo |
| 30% down | $1,627.43/mo |
| 35% down | $1,511.19/mo |
| 40% down | $1,394.94/mo |
| 45% down | $1,278.70/mo |
| 50% down | $1,162.45/mo |
4% interest
| 0% down | $3,002.94/mo |
| 5% down | $2,852.80/mo |
| 10% down | $2,702.65/mo |
| 15% down | $2,552.50/mo |
| 20% down | $2,402.35/mo |
| 25% down | $2,252.21/mo |
| 30% down | $2,102.06/mo |
| 35% down | $1,951.91/mo |
| 40% down | $1,801.77/mo |
| 45% down | $1,651.62/mo |
| 50% down | $1,501.47/mo |
6% interest
| 0% down | $3,771.17/mo |
| 5% down | $3,582.61/mo |
| 10% down | $3,394.06/mo |
| 15% down | $3,205.50/mo |
| 20% down | $3,016.94/mo |
| 25% down | $2,828.38/mo |
| 30% down | $2,639.82/mo |
| 35% down | $2,451.26/mo |
| 40% down | $2,262.70/mo |
| 45% down | $2,074.15/mo |
| 50% down | $1,885.59/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.