Use the mortgage calculator to calculate the cost of buying a $857k 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 857,000 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 $857,000 house.
2% interest
| 0% down | $3,167.64/mo |
| 5% down | $3,009.26/mo |
| 10% down | $2,850.87/mo |
| 15% down | $2,692.49/mo |
| 20% down | $2,534.11/mo |
| 25% down | $2,375.73/mo |
| 30% down | $2,217.35/mo |
| 35% down | $2,058.97/mo |
| 40% down | $1,900.58/mo |
| 45% down | $1,742.20/mo |
| 50% down | $1,583.82/mo |
4% interest
| 0% down | $4,091.45/mo |
| 5% down | $3,886.88/mo |
| 10% down | $3,682.30/mo |
| 15% down | $3,477.73/mo |
| 20% down | $3,273.16/mo |
| 25% down | $3,068.59/mo |
| 30% down | $2,864.01/mo |
| 35% down | $2,659.44/mo |
| 40% down | $2,454.87/mo |
| 45% down | $2,250.30/mo |
| 50% down | $2,045.72/mo |
6% interest
| 0% down | $5,138.15/mo |
| 5% down | $4,881.24/mo |
| 10% down | $4,624.33/mo |
| 15% down | $4,367.43/mo |
| 20% down | $4,110.52/mo |
| 25% down | $3,853.61/mo |
| 30% down | $3,596.70/mo |
| 35% down | $3,339.80/mo |
| 40% down | $3,082.89/mo |
| 45% down | $2,825.98/mo |
| 50% down | $2,569.07/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.