Use the mortgage calculator to calculate the cost of buying a $854k 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 854,000 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 $854,000 house.
2% interest
| 0% down | $3,156.55/mo |
| 5% down | $2,998.72/mo |
| 10% down | $2,840.90/mo |
| 15% down | $2,683.07/mo |
| 20% down | $2,525.24/mo |
| 25% down | $2,367.41/mo |
| 30% down | $2,209.59/mo |
| 35% down | $2,051.76/mo |
| 40% down | $1,893.93/mo |
| 45% down | $1,736.10/mo |
| 50% down | $1,578.28/mo |
4% interest
| 0% down | $4,077.13/mo |
| 5% down | $3,873.27/mo |
| 10% down | $3,669.41/mo |
| 15% down | $3,465.56/mo |
| 20% down | $3,261.70/mo |
| 25% down | $3,057.84/mo |
| 30% down | $2,853.99/mo |
| 35% down | $2,650.13/mo |
| 40% down | $2,446.28/mo |
| 45% down | $2,242.42/mo |
| 50% down | $2,038.56/mo |
6% interest
| 0% down | $5,120.16/mo |
| 5% down | $4,864.15/mo |
| 10% down | $4,608.15/mo |
| 15% down | $4,352.14/mo |
| 20% down | $4,096.13/mo |
| 25% down | $3,840.12/mo |
| 30% down | $3,584.11/mo |
| 35% down | $3,328.10/mo |
| 40% down | $3,072.10/mo |
| 45% down | $2,816.09/mo |
| 50% down | $2,560.08/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.