Use the mortgage calculator to calculate the cost of buying a $947k 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 947,000 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 $947,000 house.
$947,000 Home at 2%
0% down | $3,500.30/mo |
5% down | $3,325.28/mo |
10% down | $3,150.27/mo |
15% down | $2,975.25/mo |
20% down | $2,800.24/mo |
25% down | $2,625.22/mo |
30% down | $2,450.21/mo |
35% down | $2,275.19/mo |
40% down | $2,100.18/mo |
45% down | $1,925.16/mo |
50% down | $1,750.15/mo |
$947,000 Home at 4%
0% down | $4,521.12/mo |
5% down | $4,295.07/mo |
10% down | $4,069.01/mo |
15% down | $3,842.95/mo |
20% down | $3,616.90/mo |
25% down | $3,390.84/mo |
30% down | $3,164.79/mo |
35% down | $2,938.73/mo |
40% down | $2,712.67/mo |
45% down | $2,486.62/mo |
50% down | $2,260.56/mo |
$947,000 Home at 6%
0% down | $5,677.74/mo |
5% down | $5,393.86/mo |
10% down | $5,109.97/mo |
15% down | $4,826.08/mo |
20% down | $4,542.19/mo |
25% down | $4,258.31/mo |
30% down | $3,974.42/mo |
35% down | $3,690.53/mo |
40% down | $3,406.65/mo |
45% down | $3,122.76/mo |
50% down | $2,838.87/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.