Use the mortgage calculator to calculate the cost of buying a $716k 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 716,000 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 $716,000 house.
2% interest
| 0% down | $2,646.48/mo |
| 5% down | $2,514.15/mo |
| 10% down | $2,381.83/mo |
| 15% down | $2,249.50/mo |
| 20% down | $2,117.18/mo |
| 25% down | $1,984.86/mo |
| 30% down | $1,852.53/mo |
| 35% down | $1,720.21/mo |
| 40% down | $1,587.89/mo |
| 45% down | $1,455.56/mo |
| 50% down | $1,323.24/mo |
4% interest
| 0% down | $3,418.29/mo |
| 5% down | $3,247.38/mo |
| 10% down | $3,076.46/mo |
| 15% down | $2,905.55/mo |
| 20% down | $2,734.63/mo |
| 25% down | $2,563.72/mo |
| 30% down | $2,392.81/mo |
| 35% down | $2,221.89/mo |
| 40% down | $2,050.98/mo |
| 45% down | $1,880.06/mo |
| 50% down | $1,709.15/mo |
6% interest
| 0% down | $4,292.78/mo |
| 5% down | $4,078.14/mo |
| 10% down | $3,863.50/mo |
| 15% down | $3,648.86/mo |
| 20% down | $3,434.23/mo |
| 25% down | $3,219.59/mo |
| 30% down | $3,004.95/mo |
| 35% down | $2,790.31/mo |
| 40% down | $2,575.67/mo |
| 45% down | $2,361.03/mo |
| 50% down | $2,146.39/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.