Use the mortgage calculator to calculate the cost of buying a $980k 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 980,000 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 $980,000 house.
$980,000 Home at 2%
| 0% down | $3,622.27/mo |
| 5% down | $3,441.16/mo |
| 10% down | $3,260.04/mo |
| 15% down | $3,078.93/mo |
| 20% down | $2,897.82/mo |
| 25% down | $2,716.70/mo |
| 30% down | $2,535.59/mo |
| 35% down | $2,354.48/mo |
| 40% down | $2,173.36/mo |
| 45% down | $1,992.25/mo |
| 50% down | $1,811.14/mo |
$980,000 Home at 4%
| 0% down | $4,678.67/mo |
| 5% down | $4,444.74/mo |
| 10% down | $4,210.80/mo |
| 15% down | $3,976.87/mo |
| 20% down | $3,742.94/mo |
| 25% down | $3,509.00/mo |
| 30% down | $3,275.07/mo |
| 35% down | $3,041.14/mo |
| 40% down | $2,807.20/mo |
| 45% down | $2,573.27/mo |
| 50% down | $2,339.33/mo |
$980,000 Home at 6%
| 0% down | $5,875.60/mo |
| 5% down | $5,581.82/mo |
| 10% down | $5,288.04/mo |
| 15% down | $4,994.26/mo |
| 20% down | $4,700.48/mo |
| 25% down | $4,406.70/mo |
| 30% down | $4,112.92/mo |
| 35% down | $3,819.14/mo |
| 40% down | $3,525.36/mo |
| 45% down | $3,231.58/mo |
| 50% down | $2,937.80/mo |
Should I refinance? If your interest rate is higher than the current market rate, consider refinancing.