Use the mortgage calculator to calculate the cost of buying a $850k 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 850,000 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 $850,000 house.
$850,000 Home at 2%
| 0% down | $3,141.77/mo |
| 5% down | $2,984.68/mo |
| 10% down | $2,827.59/mo |
| 15% down | $2,670.50/mo |
| 20% down | $2,513.41/mo |
| 25% down | $2,356.32/mo |
| 30% down | $2,199.24/mo |
| 35% down | $2,042.15/mo |
| 40% down | $1,885.06/mo |
| 45% down | $1,727.97/mo |
| 50% down | $1,570.88/mo |
$850,000 Home at 4%
| 0% down | $4,058.03/mo |
| 5% down | $3,855.13/mo |
| 10% down | $3,652.23/mo |
| 15% down | $3,449.33/mo |
| 20% down | $3,246.42/mo |
| 25% down | $3,043.52/mo |
| 30% down | $2,840.62/mo |
| 35% down | $2,637.72/mo |
| 40% down | $2,434.82/mo |
| 45% down | $2,231.92/mo |
| 50% down | $2,029.02/mo |
$850,000 Home at 6%
| 0% down | $5,096.18/mo |
| 5% down | $4,841.37/mo |
| 10% down | $4,586.56/mo |
| 15% down | $4,331.75/mo |
| 20% down | $4,076.94/mo |
| 25% down | $3,822.13/mo |
| 30% down | $3,567.33/mo |
| 35% down | $3,312.52/mo |
| 40% down | $3,057.71/mo |
| 45% down | $2,802.90/mo |
| 50% down | $2,548.09/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.