CalculynWhat is the monthly payment on a $200k mortgage?
At a 6.5% interest rate on a 30-year fixed loan, a $200,000 mortgage costs about $1,264 a month in principal and interest. Property tax, insurance and PMI usually add more on top.
Monthly payment by rate
Principal and interest only. Example rates for 2026, not a quote.
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.5% | $1,136 | $1,376 | $1,634 |
| 6% | $1,199 | $1,433 | $1,688 |
| 6.5% | $1,264 | $1,491 | $1,742 |
| 7% | $1,331 | $1,551 | $1,798 |
| 7.5% | $1,398 | $1,611 | $1,854 |
Total interest paid
| Rate | 30-year total interest | 15-year total interest |
|---|---|---|
| 5.5% | $208,808 | $94,150 |
| 6% | $231,676 | $103,788 |
| 6.5% | $255,089 | $113,599 |
| 7% | $279,018 | $123,578 |
| 7.5% | $303,434 | $133,724 |
Income needed
A common guideline keeps housing costs under 28% of gross monthly income. At 6.5% over 30 years, a $200,000 loan suggests an income of roughly $67,722 a year, assuming taxes and insurance add about 25% to the payment.
How it's calculated
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments.
Change the numbers →
Open the Mortgage Calculator with these values filled in.
These figures are educational estimates, not financial advice.
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