Use the mortgage calculator to calculate the cost of buying a $851k 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 851,000 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 $851,000 house.
2% interest
| 0% down | $3,145.46/mo |
| 5% down | $2,988.19/mo |
| 10% down | $2,830.92/mo |
| 15% down | $2,673.64/mo |
| 20% down | $2,516.37/mo |
| 25% down | $2,359.10/mo |
| 30% down | $2,201.82/mo |
| 35% down | $2,044.55/mo |
| 40% down | $1,887.28/mo |
| 45% down | $1,730.00/mo |
| 50% down | $1,572.73/mo |
4% interest
| 0% down | $4,062.80/mo |
| 5% down | $3,859.66/mo |
| 10% down | $3,656.52/mo |
| 15% down | $3,453.38/mo |
| 20% down | $3,250.24/mo |
| 25% down | $3,047.10/mo |
| 30% down | $2,843.96/mo |
| 35% down | $2,640.82/mo |
| 40% down | $2,437.68/mo |
| 45% down | $2,234.54/mo |
| 50% down | $2,031.40/mo |
6% interest
| 0% down | $5,102.17/mo |
| 5% down | $4,847.07/mo |
| 10% down | $4,591.96/mo |
| 15% down | $4,336.85/mo |
| 20% down | $4,081.74/mo |
| 25% down | $3,826.63/mo |
| 30% down | $3,571.52/mo |
| 35% down | $3,316.41/mo |
| 40% down | $3,061.30/mo |
| 45% down | $2,806.20/mo |
| 50% down | $2,551.09/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.