Monthly payment on $175,000 by rate and term
Principal and interest on the $140,000 borrowed after a 20% deposit of $35,000. The rate is the single biggest lever, which is why it is worth shopping.
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5.50% | $794.90 | $963.04 | $1,143.92 |
| 6.00% | $839.37 | $1,003.00 | $1,181.40 |
| 6.50% | $884.90 | $1,043.80 | $1,219.55 |
| 7.00% | $931.42 | $1,085.42 | $1,258.36 |
| 7.50% | $978.90 | $1,127.83 | $1,297.82 |
| 8.00% | $1,027.27 | $1,171.02 | $1,337.91 |
Principal and interest only, before taxes, insurance and any PMI.
How the deposit changes it
| Down payment | Loan | P&I | PMI | PMI ends |
|---|---|---|---|---|
| 5% ($8,750) | $166,250 | $1,050.81 | $76.20 | month 135 |
| 10% ($17,500) | $157,500 | $995.51 | $72.19 | month 109 |
| 20% ($35,000) | $140,000 | $884.90 | — | not charged |
At 6.5% over 30 years. PMI applies above 80% loan-to-value and is cancelled automatically at 78%.
Frequently asked questions
What is the monthly payment on a $175,000 house?
With 20% down at 6.5% over 30 years, principal and interest are $884.90 a month. Adding property tax and insurance brings the full payment to about $1,195.32.
How much do I need to put down on a $175,000 home?
20% is $35,000, which avoids PMI. At 5% down ($8,750) you would borrow $166,250 and pay an extra $76.20 a month in PMI until month 135.
How much interest does a $175,000 mortgage cost?
On the $140,000 borrowed at 6.5% over 30 years, total interest is $178,559 — about 128% of the amount borrowed. A 15-year term cuts that to $79,519.
Nearby prices
Related tools
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