Use the mortgage calculator to calculate the cost of buying a $897k 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 897,000 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 $897,000 house.
$897,000 Home at 2%
| 0% down | $3,315.49/mo |
| 5% down | $3,149.71/mo |
| 10% down | $2,983.94/mo |
| 15% down | $2,818.16/mo |
| 20% down | $2,652.39/mo |
| 25% down | $2,486.62/mo |
| 30% down | $2,320.84/mo |
| 35% down | $2,155.07/mo |
| 40% down | $1,989.29/mo |
| 45% down | $1,823.52/mo |
| 50% down | $1,657.74/mo |
$897,000 Home at 4%
| 0% down | $4,282.42/mo |
| 5% down | $4,068.29/mo |
| 10% down | $3,854.17/mo |
| 15% down | $3,640.05/mo |
| 20% down | $3,425.93/mo |
| 25% down | $3,211.81/mo |
| 30% down | $2,997.69/mo |
| 35% down | $2,783.57/mo |
| 40% down | $2,569.45/mo |
| 45% down | $2,355.33/mo |
| 50% down | $2,141.21/mo |
$897,000 Home at 6%
| 0% down | $5,377.97/mo |
| 5% down | $5,109.07/mo |
| 10% down | $4,840.17/mo |
| 15% down | $4,571.27/mo |
| 20% down | $4,302.37/mo |
| 25% down | $4,033.48/mo |
| 30% down | $3,764.58/mo |
| 35% down | $3,495.68/mo |
| 40% down | $3,226.78/mo |
| 45% down | $2,957.88/mo |
| 50% down | $2,688.98/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.