Use the mortgage calculator to calculate the cost of buying a $840k 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 840,000 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 $840,000 house.
2% interest
| 0% down | $3,104.80/mo |
| 5% down | $2,949.56/mo |
| 10% down | $2,794.32/mo |
| 15% down | $2,639.08/mo |
| 20% down | $2,483.84/mo |
| 25% down | $2,328.60/mo |
| 30% down | $2,173.36/mo |
| 35% down | $2,018.12/mo |
| 40% down | $1,862.88/mo |
| 45% down | $1,707.64/mo |
| 50% down | $1,552.40/mo |
4% interest
| 0% down | $4,010.29/mo |
| 5% down | $3,809.77/mo |
| 10% down | $3,609.26/mo |
| 15% down | $3,408.75/mo |
| 20% down | $3,208.23/mo |
| 25% down | $3,007.72/mo |
| 30% down | $2,807.20/mo |
| 35% down | $2,606.69/mo |
| 40% down | $2,406.17/mo |
| 45% down | $2,205.66/mo |
| 50% down | $2,005.14/mo |
6% interest
| 0% down | $5,036.22/mo |
| 5% down | $4,784.41/mo |
| 10% down | $4,532.60/mo |
| 15% down | $4,280.79/mo |
| 20% down | $4,028.98/mo |
| 25% down | $3,777.17/mo |
| 30% down | $3,525.36/mo |
| 35% down | $3,273.55/mo |
| 40% down | $3,021.73/mo |
| 45% down | $2,769.92/mo |
| 50% down | $2,518.11/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.