Monthly payment on $900,000 by rate and term
Principal and interest on the $720,000 borrowed after a 20% deposit of $180,000. The rate is the single biggest lever, which is why it is worth shopping.
| Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5.50% | $4,088.08 | $4,952.79 | $5,883.00 |
| 6.00% | $4,316.76 | $5,158.30 | $6,075.77 |
| 6.50% | $4,550.89 | $5,368.13 | $6,271.97 |
| 7.00% | $4,790.18 | $5,582.15 | $6,471.56 |
| 7.50% | $5,034.34 | $5,800.27 | $6,674.49 |
| 8.00% | $5,283.10 | $6,022.37 | $6,880.70 |
Principal and interest only, before taxes, insurance and any PMI.
How the deposit changes it
| Down payment | Loan | P&I | PMI | PMI ends |
|---|---|---|---|---|
| 5% ($45,000) | $855,000 | $5,404.18 | $391.88 | month 135 |
| 10% ($90,000) | $810,000 | $5,119.75 | $371.25 | month 109 |
| 20% ($180,000) | $720,000 | $4,550.89 | — | 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 $900,000 house?
With 20% down at 6.5% over 30 years, principal and interest are $4,550.89 a month. Adding property tax and insurance brings the full payment to about $5,525.89.
How much do I need to put down on a $900,000 home?
20% is $180,000, which avoids PMI. At 5% down ($45,000) you would borrow $855,000 and pay an extra $391.88 a month in PMI until month 135.
How much interest does a $900,000 mortgage cost?
On the $720,000 borrowed at 6.5% over 30 years, total interest is $918,320 — about 128% of the amount borrowed. A 15-year term cuts that to $408,955.
Nearby prices
Related tools
- Amortization schedule — every payment on this loan, with CSV export
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