Use the mortgage calculator to calculate the cost of buying a $705k 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 705,000 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 $705,000 house.
$705,000 Home at 2%
| 0% down | $2,605.82/mo |
| 5% down | $2,475.53/mo |
| 10% down | $2,345.24/mo |
| 15% down | $2,214.94/mo |
| 20% down | $2,084.65/mo |
| 25% down | $1,954.36/mo |
| 30% down | $1,824.07/mo |
| 35% down | $1,693.78/mo |
| 40% down | $1,563.49/mo |
| 45% down | $1,433.20/mo |
| 50% down | $1,302.91/mo |
$705,000 Home at 4%
| 0% down | $3,365.78/mo |
| 5% down | $3,197.49/mo |
| 10% down | $3,029.20/mo |
| 15% down | $2,860.91/mo |
| 20% down | $2,692.62/mo |
| 25% down | $2,524.33/mo |
| 30% down | $2,356.04/mo |
| 35% down | $2,187.76/mo |
| 40% down | $2,019.47/mo |
| 45% down | $1,851.18/mo |
| 50% down | $1,682.89/mo |
$705,000 Home at 6%
| 0% down | $4,226.83/mo |
| 5% down | $4,015.49/mo |
| 10% down | $3,804.15/mo |
| 15% down | $3,592.81/mo |
| 20% down | $3,381.46/mo |
| 25% down | $3,170.12/mo |
| 30% down | $2,958.78/mo |
| 35% down | $2,747.44/mo |
| 40% down | $2,536.10/mo |
| 45% down | $2,324.76/mo |
| 50% down | $2,113.42/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.