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Calculating the monthly mortgage payment on a $500,000 house involves considering factors such as interest rate, loan term, and down payment. To determine how much house one can afford, one should consider their income, debts, and financial goals. Generally, a mortgage calculator can be used to estimate the monthly payment. Additionally, to afford a $500,000 house, one typically needs a steady income and good credit, with the exact amount varying based on personal financial situation and market conditions.

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