$885,000 Mortgage Loan Payments and Costs

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Loan Summary


Use the mortgage calculator to calculate the cost of buying a $885k 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 885,000 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 $885,000 house.
2% interest
0% down$3,271.13/mo
5% down$3,107.58/mo
10% down$2,944.02/mo
15% down$2,780.46/mo
20% down$2,616.91/mo
25% down$2,453.35/mo
30% down$2,289.79/mo
35% down$2,126.24/mo
40% down$1,962.68/mo
45% down$1,799.12/mo
50% down$1,635.57/mo
4% interest
0% down$4,225.13/mo
5% down$4,013.87/mo
10% down$3,802.61/mo
15% down$3,591.36/mo
20% down$3,380.10/mo
25% down$3,168.84/mo
30% down$2,957.59/mo
35% down$2,746.33/mo
40% down$2,535.08/mo
45% down$2,323.82/mo
50% down$2,112.56/mo
6% interest
0% down$5,306.02/mo
5% down$5,040.72/mo
10% down$4,775.42/mo
15% down$4,510.12/mo
20% down$4,244.82/mo
25% down$3,979.52/mo
30% down$3,714.22/mo
35% down$3,448.91/mo
40% down$3,183.61/mo
45% down$2,918.31/mo
50% down$2,653.01/mo
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.
What's the payment on a 885,000 house with a 20% down payment?
($708,000 loan. 30 year mortgage)
0.25%$2,041.54
0.50%$2,118.26
0.75%$2,196.82
1.00%$2,277.21
1.25%$2,359.42
1.50%$2,443.45
1.75%$2,529.28
2.00%$2,616.91
2.25%$2,706.30
2.50%$2,797.46
2.75%$2,890.35
3.00%$2,984.96
3.25%$3,081.26
3.50%$3,179.24
3.75%$3,278.86
4.00%$3,380.10
4.25%$3,482.93
4.50%$3,587.33
4.75%$3,693.26
5.00%$3,800.70
5.25%$3,909.60
5.50%$4,019.95
5.75%$4,131.70
6.00%$4,244.82
6.25%$4,359.28
6.50%$4,475.04
6.75%$4,592.07
7.00%$4,710.34
7.25%$4,829.81
7.50%$4,950.44
7.75%$5,072.20
8.00%$5,195.05
8.25%$5,318.97
8.50%$5,443.91
8.75%$5,569.84
9.00%$5,696.73
9.25%$5,824.54
9.50%$5,953.25
9.75%$6,082.81
10.00%$6,213.21
10.25%$6,344.40
10.50%$6,476.35
10.75%$6,609.05
11.00%$6,742.45
11.25%$6,876.53
11.50%$7,011.26
11.75%$7,146.62
12.00%$7,282.58