Use the mortgage calculator to calculate the cost of buying a $9k 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 9,000 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 $9,000 house.
2% interest
| 0% down | $33.27/mo |
| 5% down | $31.60/mo |
| 10% down | $29.94/mo |
| 15% down | $28.28/mo |
| 20% down | $26.61/mo |
| 25% down | $24.95/mo |
| 30% down | $23.29/mo |
| 35% down | $21.62/mo |
| 40% down | $19.96/mo |
| 45% down | $18.30/mo |
| 50% down | $16.63/mo |
4% interest
| 0% down | $42.97/mo |
| 5% down | $40.82/mo |
| 10% down | $38.67/mo |
| 15% down | $36.52/mo |
| 20% down | $34.37/mo |
| 25% down | $32.23/mo |
| 30% down | $30.08/mo |
| 35% down | $27.93/mo |
| 40% down | $25.78/mo |
| 45% down | $23.63/mo |
| 50% down | $21.48/mo |
6% interest
| 0% down | $53.96/mo |
| 5% down | $51.26/mo |
| 10% down | $48.56/mo |
| 15% down | $45.87/mo |
| 20% down | $43.17/mo |
| 25% down | $40.47/mo |
| 30% down | $37.77/mo |
| 35% down | $35.07/mo |
| 40% down | $32.38/mo |
| 45% down | $29.68/mo |
| 50% down | $26.98/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.