Use the mortgage calculator to calculate the cost of buying a $866k 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 866,000 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 $866,000 house.
2% interest
| 0% down | $3,200.90/mo |
| 5% down | $3,040.86/mo |
| 10% down | $2,880.81/mo |
| 15% down | $2,720.77/mo |
| 20% down | $2,560.72/mo |
| 25% down | $2,400.68/mo |
| 30% down | $2,240.63/mo |
| 35% down | $2,080.59/mo |
| 40% down | $1,920.54/mo |
| 45% down | $1,760.50/mo |
| 50% down | $1,600.45/mo |
4% interest
| 0% down | $4,134.42/mo |
| 5% down | $3,927.70/mo |
| 10% down | $3,720.97/mo |
| 15% down | $3,514.25/mo |
| 20% down | $3,307.53/mo |
| 25% down | $3,100.81/mo |
| 30% down | $2,894.09/mo |
| 35% down | $2,687.37/mo |
| 40% down | $2,480.65/mo |
| 45% down | $2,273.93/mo |
| 50% down | $2,067.21/mo |
6% interest
| 0% down | $5,192.11/mo |
| 5% down | $4,932.50/mo |
| 10% down | $4,672.90/mo |
| 15% down | $4,413.29/mo |
| 20% down | $4,153.69/mo |
| 25% down | $3,894.08/mo |
| 30% down | $3,634.48/mo |
| 35% down | $3,374.87/mo |
| 40% down | $3,115.26/mo |
| 45% down | $2,855.66/mo |
| 50% down | $2,596.05/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.