Use the mortgage calculator to calculate the cost of buying a $66k 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 66,000 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 $66,000 house.
2% interest
| 0% down | $243.95/mo |
| 5% down | $231.75/mo |
| 10% down | $219.55/mo |
| 15% down | $207.36/mo |
| 20% down | $195.16/mo |
| 25% down | $182.96/mo |
| 30% down | $170.76/mo |
| 35% down | $158.57/mo |
| 40% down | $146.37/mo |
| 45% down | $134.17/mo |
| 50% down | $121.97/mo |
4% interest
| 0% down | $315.09/mo |
| 5% down | $299.34/mo |
| 10% down | $283.58/mo |
| 15% down | $267.83/mo |
| 20% down | $252.08/mo |
| 25% down | $236.32/mo |
| 30% down | $220.57/mo |
| 35% down | $204.81/mo |
| 40% down | $189.06/mo |
| 45% down | $173.30/mo |
| 50% down | $157.55/mo |
6% interest
| 0% down | $395.70/mo |
| 5% down | $375.92/mo |
| 10% down | $356.13/mo |
| 15% down | $336.35/mo |
| 20% down | $316.56/mo |
| 25% down | $296.78/mo |
| 30% down | $276.99/mo |
| 35% down | $257.21/mo |
| 40% down | $237.42/mo |
| 45% down | $217.64/mo |
| 50% down | $197.85/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.