In case you know the money in your pocket and bank interest rates and want to learn what is the price
range you can afford with that. This calculator made for you. When you enter the amounts it will show
you the house you can afford, monthly payments for your loan and the money paid for interest. If monthly
payments are too much for you, you can __increase the loan term__.

First of all need to check your banks and regulations about mortgage. Most probably there is a minimum **down payment**
percentage anyway. This may change with country you live, banks and also with your credit score. Then you can understand
if you can increase this or not. With the calculation above you can get some payment schedules for different amounts and loan terms. You
will see that if you pay more upfront your monthly payments drops. This also drops your money wasted on interest. 💸

Lets say you have 20.000$ in your savings account and will apply for a **FHA** loan which is as low as 3.5%. Assuming interest
rate is 5% and you want to pay it in 5 years. This allows you to get 571.428$ of loan with 10.406$ monthly payments. For the
second scenario lets look at the monthly payments if you had 100.000$ in the first place with 17,5% down payment: you still will
pay 571.428$ but monthly payments dropped to 8.896$ and money paid to interest is 62.357$ now. This also means you can lower your
loan term. Keeping the __monthly payment amount__ same, with the second scenario you could finish your loan in 50th month, 10 months earlier.