Use the mortgage calculator to calculate the cost of buying a $706k 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 706,000 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 $706,000 house.
2% interest
| 0% down | $2,609.51/mo |
| 5% down | $2,479.04/mo |
| 10% down | $2,348.56/mo |
| 15% down | $2,218.09/mo |
| 20% down | $2,087.61/mo |
| 25% down | $1,957.14/mo |
| 30% down | $1,826.66/mo |
| 35% down | $1,696.18/mo |
| 40% down | $1,565.71/mo |
| 45% down | $1,435.23/mo |
| 50% down | $1,304.76/mo |
4% interest
| 0% down | $3,370.55/mo |
| 5% down | $3,202.02/mo |
| 10% down | $3,033.50/mo |
| 15% down | $2,864.97/mo |
| 20% down | $2,696.44/mo |
| 25% down | $2,527.91/mo |
| 30% down | $2,359.39/mo |
| 35% down | $2,190.86/mo |
| 40% down | $2,022.33/mo |
| 45% down | $1,853.80/mo |
| 50% down | $1,685.28/mo |
6% interest
| 0% down | $4,232.83/mo |
| 5% down | $4,021.19/mo |
| 10% down | $3,809.54/mo |
| 15% down | $3,597.90/mo |
| 20% down | $3,386.26/mo |
| 25% down | $3,174.62/mo |
| 30% down | $2,962.98/mo |
| 35% down | $2,751.34/mo |
| 40% down | $2,539.70/mo |
| 45% down | $2,328.05/mo |
| 50% down | $2,116.41/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.