Use the mortgage calculator to calculate the cost of buying a $70k 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 70,000 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 $70,000 house.
$70,000 Home at 2%
| 0% down | $258.73/mo |
| 5% down | $245.80/mo |
| 10% down | $232.86/mo |
| 15% down | $219.92/mo |
| 20% down | $206.99/mo |
| 25% down | $194.05/mo |
| 30% down | $181.11/mo |
| 35% down | $168.18/mo |
| 40% down | $155.24/mo |
| 45% down | $142.30/mo |
| 50% down | $129.37/mo |
$70,000 Home at 4%
| 0% down | $334.19/mo |
| 5% down | $317.48/mo |
| 10% down | $300.77/mo |
| 15% down | $284.06/mo |
| 20% down | $267.35/mo |
| 25% down | $250.64/mo |
| 30% down | $233.93/mo |
| 35% down | $217.22/mo |
| 40% down | $200.51/mo |
| 45% down | $183.80/mo |
| 50% down | $167.10/mo |
$70,000 Home at 6%
| 0% down | $419.69/mo |
| 5% down | $398.70/mo |
| 10% down | $377.72/mo |
| 15% down | $356.73/mo |
| 20% down | $335.75/mo |
| 25% down | $314.76/mo |
| 30% down | $293.78/mo |
| 35% down | $272.80/mo |
| 40% down | $251.81/mo |
| 45% down | $230.83/mo |
| 50% down | $209.84/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.