Use the mortgage calculator to calculate the cost of buying a $80k 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 80,000 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 $80,000 house.
$80,000 Home at 2%
| 0% down | $295.70/mo |
| 5% down | $280.91/mo |
| 10% down | $266.13/mo |
| 15% down | $251.34/mo |
| 20% down | $236.56/mo |
| 25% down | $221.77/mo |
| 30% down | $206.99/mo |
| 35% down | $192.20/mo |
| 40% down | $177.42/mo |
| 45% down | $162.63/mo |
| 50% down | $147.85/mo |
$80,000 Home at 4%
| 0% down | $381.93/mo |
| 5% down | $362.84/mo |
| 10% down | $343.74/mo |
| 15% down | $324.64/mo |
| 20% down | $305.55/mo |
| 25% down | $286.45/mo |
| 30% down | $267.35/mo |
| 35% down | $248.26/mo |
| 40% down | $229.16/mo |
| 45% down | $210.06/mo |
| 50% down | $190.97/mo |
$80,000 Home at 6%
| 0% down | $479.64/mo |
| 5% down | $455.66/mo |
| 10% down | $431.68/mo |
| 15% down | $407.69/mo |
| 20% down | $383.71/mo |
| 25% down | $359.73/mo |
| 30% down | $335.75/mo |
| 35% down | $311.77/mo |
| 40% down | $287.78/mo |
| 45% down | $263.80/mo |
| 50% down | $239.82/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.