Use the mortgage calculator to calculate the cost of buying a $94k 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 94,000 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 $94,000 house.
$94,000 Home at 2%
| 0% down | $347.44/mo |
| 5% down | $330.07/mo |
| 10% down | $312.70/mo |
| 15% down | $295.33/mo |
| 20% down | $277.95/mo |
| 25% down | $260.58/mo |
| 30% down | $243.21/mo |
| 35% down | $225.84/mo |
| 40% down | $208.47/mo |
| 45% down | $191.09/mo |
| 50% down | $173.72/mo |
$94,000 Home at 4%
| 0% down | $448.77/mo |
| 5% down | $426.33/mo |
| 10% down | $403.89/mo |
| 15% down | $381.45/mo |
| 20% down | $359.02/mo |
| 25% down | $336.58/mo |
| 30% down | $314.14/mo |
| 35% down | $291.70/mo |
| 40% down | $269.26/mo |
| 45% down | $246.82/mo |
| 50% down | $224.39/mo |
$94,000 Home at 6%
| 0% down | $563.58/mo |
| 5% down | $535.40/mo |
| 10% down | $507.22/mo |
| 15% down | $479.04/mo |
| 20% down | $450.86/mo |
| 25% down | $422.68/mo |
| 30% down | $394.50/mo |
| 35% down | $366.33/mo |
| 40% down | $338.15/mo |
| 45% down | $309.97/mo |
| 50% down | $281.79/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.