Use the mortgage calculator to calculate the cost of buying a $708k 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 708,000 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 $708,000 house.
2% interest
| 0% down | $2,616.91/mo |
| 5% down | $2,486.06/mo |
| 10% down | $2,355.22/mo |
| 15% down | $2,224.37/mo |
| 20% down | $2,093.52/mo |
| 25% down | $1,962.68/mo |
| 30% down | $1,831.83/mo |
| 35% down | $1,700.99/mo |
| 40% down | $1,570.14/mo |
| 45% down | $1,439.30/mo |
| 50% down | $1,308.45/mo |
4% interest
| 0% down | $3,380.10/mo |
| 5% down | $3,211.10/mo |
| 10% down | $3,042.09/mo |
| 15% down | $2,873.09/mo |
| 20% down | $2,704.08/mo |
| 25% down | $2,535.08/mo |
| 30% down | $2,366.07/mo |
| 35% down | $2,197.07/mo |
| 40% down | $2,028.06/mo |
| 45% down | $1,859.06/mo |
| 50% down | $1,690.05/mo |
6% interest
| 0% down | $4,244.82/mo |
| 5% down | $4,032.58/mo |
| 10% down | $3,820.34/mo |
| 15% down | $3,608.10/mo |
| 20% down | $3,395.85/mo |
| 25% down | $3,183.61/mo |
| 30% down | $2,971.37/mo |
| 35% down | $2,759.13/mo |
| 40% down | $2,546.89/mo |
| 45% down | $2,334.65/mo |
| 50% down | $2,122.41/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
