Use the mortgage calculator to calculate the cost of buying a $787k 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 787,000 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 $787,000 house.
2% interest
| 0% down | $2,908.91/mo |
| 5% down | $2,763.46/mo |
| 10% down | $2,618.01/mo |
| 15% down | $2,472.57/mo |
| 20% down | $2,327.12/mo |
| 25% down | $2,181.68/mo |
| 30% down | $2,036.23/mo |
| 35% down | $1,890.79/mo |
| 40% down | $1,745.34/mo |
| 45% down | $1,599.90/mo |
| 50% down | $1,454.45/mo |
4% interest
| 0% down | $3,757.26/mo |
| 5% down | $3,569.40/mo |
| 10% down | $3,381.53/mo |
| 15% down | $3,193.67/mo |
| 20% down | $3,005.81/mo |
| 25% down | $2,817.94/mo |
| 30% down | $2,630.08/mo |
| 35% down | $2,442.22/mo |
| 40% down | $2,254.36/mo |
| 45% down | $2,066.49/mo |
| 50% down | $1,878.63/mo |
6% interest
| 0% down | $4,718.46/mo |
| 5% down | $4,482.54/mo |
| 10% down | $4,246.62/mo |
| 15% down | $4,010.69/mo |
| 20% down | $3,774.77/mo |
| 25% down | $3,538.85/mo |
| 30% down | $3,302.92/mo |
| 35% down | $3,067.00/mo |
| 40% down | $2,831.08/mo |
| 45% down | $2,595.15/mo |
| 50% down | $2,359.23/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.