Use the mortgage calculator to calculate the cost of buying a $940k 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 940,000 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 $940,000 house.
$940,000 Home at 2%
| 0% down | $3,474.42/mo |
| 5% down | $3,300.70/mo |
| 10% down | $3,126.98/mo |
| 15% down | $2,953.26/mo |
| 20% down | $2,779.54/mo |
| 25% down | $2,605.82/mo |
| 30% down | $2,432.10/mo |
| 35% down | $2,258.37/mo |
| 40% down | $2,084.65/mo |
| 45% down | $1,910.93/mo |
| 50% down | $1,737.21/mo |
$940,000 Home at 4%
| 0% down | $4,487.70/mo |
| 5% down | $4,263.32/mo |
| 10% down | $4,038.93/mo |
| 15% down | $3,814.55/mo |
| 20% down | $3,590.16/mo |
| 25% down | $3,365.78/mo |
| 30% down | $3,141.39/mo |
| 35% down | $2,917.01/mo |
| 40% down | $2,692.62/mo |
| 45% down | $2,468.24/mo |
| 50% down | $2,243.85/mo |
$940,000 Home at 6%
| 0% down | $5,635.77/mo |
| 5% down | $5,353.99/mo |
| 10% down | $5,072.20/mo |
| 15% down | $4,790.41/mo |
| 20% down | $4,508.62/mo |
| 25% down | $4,226.83/mo |
| 30% down | $3,945.04/mo |
| 35% down | $3,663.25/mo |
| 40% down | $3,381.46/mo |
| 45% down | $3,099.68/mo |
| 50% down | $2,817.89/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.