Use the mortgage calculator to calculate the cost of buying a $889k 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 889,000 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 $889,000 house.
$889,000 Home at 2%
| 0% down | $3,285.92/mo |
| 5% down | $3,121.62/mo |
| 10% down | $2,957.33/mo |
| 15% down | $2,793.03/mo |
| 20% down | $2,628.73/mo |
| 25% down | $2,464.44/mo |
| 30% down | $2,300.14/mo |
| 35% down | $2,135.85/mo |
| 40% down | $1,971.55/mo |
| 45% down | $1,807.25/mo |
| 50% down | $1,642.96/mo |
$889,000 Home at 4%
| 0% down | $4,244.22/mo |
| 5% down | $4,032.01/mo |
| 10% down | $3,819.80/mo |
| 15% down | $3,607.59/mo |
| 20% down | $3,395.38/mo |
| 25% down | $3,183.17/mo |
| 30% down | $2,970.96/mo |
| 35% down | $2,758.74/mo |
| 40% down | $2,546.53/mo |
| 45% down | $2,334.32/mo |
| 50% down | $2,122.11/mo |
$889,000 Home at 6%
| 0% down | $5,330.00/mo |
| 5% down | $5,063.50/mo |
| 10% down | $4,797.00/mo |
| 15% down | $4,530.50/mo |
| 20% down | $4,264.00/mo |
| 25% down | $3,997.50/mo |
| 30% down | $3,731.00/mo |
| 35% down | $3,464.50/mo |
| 40% down | $3,198.00/mo |
| 45% down | $2,931.50/mo |
| 50% down | $2,665.00/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.