Monthly payment on $450,000 by rate and term
Principal and interest on the $360,000 borrowed after a 20% deposit of $90,000. The rate is the single biggest lever, which is why it is worth shopping.
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5.50% | $2,044.04 | $2,476.39 | $2,941.50 |
| 6.00% | $2,158.38 | $2,579.15 | $3,037.88 |
| 6.50% | $2,275.44 | $2,684.06 | $3,135.99 |
| 7.00% | $2,395.09 | $2,791.08 | $3,235.78 |
| 7.50% | $2,517.17 | $2,900.14 | $3,337.24 |
| 8.00% | $2,641.55 | $3,011.18 | $3,440.35 |
Principal and interest only, before taxes, insurance and any PMI.
How the deposit changes it
| Down payment | Loan | P&I | PMI | PMI ends |
|---|---|---|---|---|
| 5% ($22,500) | $427,500 | $2,702.09 | $195.94 | month 135 |
| 10% ($45,000) | $405,000 | $2,559.88 | $185.63 | month 109 |
| 20% ($90,000) | $360,000 | $2,275.44 | — | 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 $450,000 house?
With 20% down at 6.5% over 30 years, principal and interest are $2,275.44 a month. Adding property tax and insurance brings the full payment to about $2,837.94.
How much do I need to put down on a $450,000 home?
20% is $90,000, which avoids PMI. At 5% down ($22,500) you would borrow $427,500 and pay an extra $195.94 a month in PMI until month 135.
How much interest does a $450,000 mortgage cost?
On the $360,000 borrowed at 6.5% over 30 years, total interest is $459,164 — about 128% of the amount borrowed. A 15-year term cuts that to $204,477.
Nearby prices
Related tools
- Amortization schedule — every payment on this loan, with CSV export
- Mortgage calculator — any price, rate, term and deposit
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