Monthly payment on $225,000 by rate and term
Principal and interest on the $180,000 borrowed after a 20% deposit of $45,000. The rate is the single biggest lever, which is why it is worth shopping.
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5.50% | $1,022.02 | $1,238.20 | $1,470.75 |
| 6.00% | $1,079.19 | $1,289.58 | $1,518.94 |
| 6.50% | $1,137.72 | $1,342.03 | $1,567.99 |
| 7.00% | $1,197.54 | $1,395.54 | $1,617.89 |
| 7.50% | $1,258.59 | $1,450.07 | $1,668.62 |
| 8.00% | $1,320.78 | $1,505.59 | $1,720.17 |
Principal and interest only, before taxes, insurance and any PMI.
How the deposit changes it
| Down payment | Loan | P&I | PMI | PMI ends |
|---|---|---|---|---|
| 5% ($11,250) | $213,750 | $1,351.05 | $97.97 | month 135 |
| 10% ($22,500) | $202,500 | $1,279.94 | $92.81 | month 109 |
| 20% ($45,000) | $180,000 | $1,137.72 | — | 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 $225,000 house?
With 20% down at 6.5% over 30 years, principal and interest are $1,137.72 a month. Adding property tax and insurance brings the full payment to about $1,493.97.
How much do I need to put down on a $225,000 home?
20% is $45,000, which avoids PMI. At 5% down ($11,250) you would borrow $213,750 and pay an extra $97.97 a month in PMI until month 135.
How much interest does a $225,000 mortgage cost?
On the $180,000 borrowed at 6.5% over 30 years, total interest is $229,582 — about 128% of the amount borrowed. A 15-year term cuts that to $102,239.
Nearby prices
Related tools
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