Use the mortgage calculator to calculate the cost of buying a $721k 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 721,000 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 $721,000 house.
$721,000 Home at 2%
| 0% down | $2,664.96/mo |
| 5% down | $2,531.71/mo |
| 10% down | $2,398.46/mo |
| 15% down | $2,265.21/mo |
| 20% down | $2,131.97/mo |
| 25% down | $1,998.72/mo |
| 30% down | $1,865.47/mo |
| 35% down | $1,732.22/mo |
| 40% down | $1,598.97/mo |
| 45% down | $1,465.73/mo |
| 50% down | $1,332.48/mo |
$721,000 Home at 4%
| 0% down | $3,442.16/mo |
| 5% down | $3,270.06/mo |
| 10% down | $3,097.95/mo |
| 15% down | $2,925.84/mo |
| 20% down | $2,753.73/mo |
| 25% down | $2,581.62/mo |
| 30% down | $2,409.51/mo |
| 35% down | $2,237.41/mo |
| 40% down | $2,065.30/mo |
| 45% down | $1,893.19/mo |
| 50% down | $1,721.08/mo |
$721,000 Home at 6%
| 0% down | $4,322.76/mo |
| 5% down | $4,106.62/mo |
| 10% down | $3,890.48/mo |
| 15% down | $3,674.35/mo |
| 20% down | $3,458.21/mo |
| 25% down | $3,242.07/mo |
| 30% down | $3,025.93/mo |
| 35% down | $2,809.79/mo |
| 40% down | $2,593.66/mo |
| 45% down | $2,377.52/mo |
| 50% down | $2,161.38/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.