Use the mortgage calculator to calculate the cost of buying a $800k 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 800,000 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 $800,000 house.
2% interest
| 0% down | $2,956.96/mo |
| 5% down | $2,809.11/mo |
| 10% down | $2,661.26/mo |
| 15% down | $2,513.41/mo |
| 20% down | $2,365.56/mo |
| 25% down | $2,217.72/mo |
| 30% down | $2,069.87/mo |
| 35% down | $1,922.02/mo |
| 40% down | $1,774.17/mo |
| 45% down | $1,626.33/mo |
| 50% down | $1,478.48/mo |
4% interest
| 0% down | $3,819.32/mo |
| 5% down | $3,628.36/mo |
| 10% down | $3,437.39/mo |
| 15% down | $3,246.42/mo |
| 20% down | $3,055.46/mo |
| 25% down | $2,864.49/mo |
| 30% down | $2,673.53/mo |
| 35% down | $2,482.56/mo |
| 40% down | $2,291.59/mo |
| 45% down | $2,100.63/mo |
| 50% down | $1,909.66/mo |
6% interest
| 0% down | $4,796.40/mo |
| 5% down | $4,556.58/mo |
| 10% down | $4,316.76/mo |
| 15% down | $4,076.94/mo |
| 20% down | $3,837.12/mo |
| 25% down | $3,597.30/mo |
| 30% down | $3,357.48/mo |
| 35% down | $3,117.66/mo |
| 40% down | $2,877.84/mo |
| 45% down | $2,638.02/mo |
| 50% down | $2,398.20/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.