Use the mortgage calculator to calculate the cost of buying a $631k 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 631,000 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 $631,000 house.
$631,000 Home at 2%
| 0% down | $2,332.30/mo |
| 5% down | $2,215.68/mo |
| 10% down | $2,099.07/mo |
| 15% down | $1,982.45/mo |
| 20% down | $1,865.84/mo |
| 25% down | $1,749.22/mo |
| 30% down | $1,632.61/mo |
| 35% down | $1,515.99/mo |
| 40% down | $1,399.38/mo |
| 45% down | $1,282.76/mo |
| 50% down | $1,166.15/mo |
$631,000 Home at 4%
| 0% down | $3,012.49/mo |
| 5% down | $2,861.87/mo |
| 10% down | $2,711.24/mo |
| 15% down | $2,560.62/mo |
| 20% down | $2,409.99/mo |
| 25% down | $2,259.37/mo |
| 30% down | $2,108.74/mo |
| 35% down | $1,958.12/mo |
| 40% down | $1,807.49/mo |
| 45% down | $1,656.87/mo |
| 50% down | $1,506.25/mo |
$631,000 Home at 6%
| 0% down | $3,783.16/mo |
| 5% down | $3,594.01/mo |
| 10% down | $3,404.85/mo |
| 15% down | $3,215.69/mo |
| 20% down | $3,026.53/mo |
| 25% down | $2,837.37/mo |
| 30% down | $2,648.21/mo |
| 35% down | $2,459.06/mo |
| 40% down | $2,269.90/mo |
| 45% down | $2,080.74/mo |
| 50% down | $1,891.58/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.