Use the mortgage calculator to calculate the cost of buying a $862k 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 862,000 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 $862,000 house.
$862,000 Home at 2%
| 0% down | $3,186.12/mo |
| 5% down | $3,026.81/mo |
| 10% down | $2,867.51/mo |
| 15% down | $2,708.20/mo |
| 20% down | $2,548.90/mo |
| 25% down | $2,389.59/mo |
| 30% down | $2,230.28/mo |
| 35% down | $2,070.98/mo |
| 40% down | $1,911.67/mo |
| 45% down | $1,752.37/mo |
| 50% down | $1,593.06/mo |
$862,000 Home at 4%
| 0% down | $4,115.32/mo |
| 5% down | $3,909.55/mo |
| 10% down | $3,703.79/mo |
| 15% down | $3,498.02/mo |
| 20% down | $3,292.26/mo |
| 25% down | $3,086.49/mo |
| 30% down | $2,880.72/mo |
| 35% down | $2,674.96/mo |
| 40% down | $2,469.19/mo |
| 45% down | $2,263.43/mo |
| 50% down | $2,057.66/mo |
$862,000 Home at 6%
| 0% down | $5,168.13/mo |
| 5% down | $4,909.72/mo |
| 10% down | $4,651.31/mo |
| 15% down | $4,392.91/mo |
| 20% down | $4,134.50/mo |
| 25% down | $3,876.09/mo |
| 30% down | $3,617.69/mo |
| 35% down | $3,359.28/mo |
| 40% down | $3,100.88/mo |
| 45% down | $2,842.47/mo |
| 50% down | $2,584.06/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.