Monthly payment on $800,000 by rate and term
Principal and interest on the $640,000 borrowed after a 20% deposit of $160,000. The rate is the single biggest lever, which is why it is worth shopping.
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5.50% | $3,633.85 | $4,402.48 | $5,229.33 |
| 6.00% | $3,837.12 | $4,585.16 | $5,400.68 |
| 6.50% | $4,045.24 | $4,771.67 | $5,575.09 |
| 7.00% | $4,257.94 | $4,961.91 | $5,752.50 |
| 7.50% | $4,474.97 | $5,155.80 | $5,932.88 |
| 8.00% | $4,696.09 | $5,353.22 | $6,116.17 |
Principal and interest only, before taxes, insurance and any PMI.
How the deposit changes it
| Down payment | Loan | P&I | PMI | PMI ends |
|---|---|---|---|---|
| 5% ($40,000) | $760,000 | $4,803.72 | $348.33 | month 135 |
| 10% ($80,000) | $720,000 | $4,550.89 | $330.00 | month 109 |
| 20% ($160,000) | $640,000 | $4,045.24 | — | 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 $800,000 house?
With 20% down at 6.5% over 30 years, principal and interest are $4,045.24 a month. Adding property tax and insurance brings the full payment to about $4,928.57.
How much do I need to put down on a $800,000 home?
20% is $160,000, which avoids PMI. At 5% down ($40,000) you would borrow $760,000 and pay an extra $348.33 a month in PMI until month 135.
How much interest does a $800,000 mortgage cost?
On the $640,000 borrowed at 6.5% over 30 years, total interest is $816,281 — about 128% of the amount borrowed. A 15-year term cuts that to $363,515.
Nearby prices
Related tools
- Amortization schedule — every payment on this loan, with CSV export
- Mortgage calculator — any price, rate, term and deposit
- Paycheck calculator — the take-home pay this payment comes out of