$200,000 Mortgage Calculator
Monthly payment on a $200,000 home with 20% down (a $160,000 loan) at 6.5% over 30 years.
A $200,000 home with a 20% down payment of $40,000 leaves a $160,000 mortgage. At a 6.5% fixed rate over 30 years, the principal & interest works out to about $1,011 a month. Adding roughly $200 for property tax and $150 for home insurance brings the full monthly payment to around $1,361.
Use the calculator below — it's already filled in for a $200,000 home — to change the down payment, rate, term, taxes, insurance, HOA, PMI, and extra monthly payments and see exactly how your payment and total interest move. Over the full 30 years you'd pay about $204,071 in interest on this loan.
Mortgage Calculator
PITI, PMI, Taxes, Insurance & Extra Payments
Results
Total Monthly Payment
$0.00
Required Monthly: $3,155.95 · Extra Principal: $200 · Payoff Date: Jun 2023
Cost Breakdown
Balance Over Time
Mortgage Summary
Cash to Close
$92,000
Payoff Date
Jun 2023
Total Cost to Own
$1,033,180
Buying together?
What a lender would approve on your combined income — and who covers what.
Combined income
$6,000
Housing share
55.9%
Lender would allow
$1,660
Over the usual limit — total debt would be 64.3% of income, past the 43% most lenders treat as the ceiling.
Rules of thumb, not a decision: lenders typically want housing under 28% of gross income and total debt under 36%, with 43% the usual ceiling. Individual lenders, credit scores and loan programmes vary. The split is proportional to income — one fair answer among several.
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Monthly payment by rate & term
Principal & interest on a $160,000 loan (excludes taxes & insurance).
| Interest rate | 30-year payment | 15-year payment |
|---|---|---|
| 5.50% | $908/mo | $1,307/mo |
| 6.00% | $959/mo | $1,350/mo |
| 6.50% | $1,011/mo | $1,394/mo |
| 7.00% | $1,064/mo | $1,438/mo |
| 7.50% | $1,119/mo | $1,483/mo |
Frequently Asked Questions
- With 20% down ($40,000) on a $200,000 home, the loan is $160,000. At 6.5% over 30 years, principal & interest is about $1,011/mo. Including roughly $200 property tax and $150 insurance, the full payment is around $1,361/mo. A larger down payment, lower rate, or shorter term changes this.
- A common rule of thumb keeps housing costs at or below 28% of gross income. With an estimated $1,361/mo payment (principal, interest, tax and insurance), that points to roughly $58,342 in annual household income. Lenders also look at your other debts, credit score and down payment, so treat this as a starting estimate.
- On the $160,000 loan at 6.5% over 30 years, you’d pay about $204,071 in interest — $364,071 total across all 360 payments. Switching to a 15-year term or adding extra monthly payments cuts that interest substantially; try it in the calculator above.
Mortgage payment by home price
Home prices