Mortgage calculator · $200,000 loan
$200,000 Mortgage Payment
At this week’s 7.28% average 30-year fixed rate, a $200,000 mortgage costs $1,368 a month in principal and interest. A year ago, at 6.25%, the same loan cost $1,231. Here is the full cost, the income it takes and how the payment has moved with rates.
- 30-year at 7.28% $1,368/mo principal + interest
- 15-year at 6.6% $1,753/mo principal + interest
- Total interest $292,633 30 years, kept to term
- Income needed $58,647 P&I at 28% of gross
Mortgage · monthly payment
Your full payment on a $200,000 loan
Set up as a $250,000 home with 20% down at this week’s 7.28% rate. Property tax and insurance are rough placeholders; change any figure to see your real monthly cost.
What's in the payment
- Loan amount
- —
- Total interest paid
- —
- Total of payments
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- Payoff
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Amortization schedule year by year — principal, interest & balance
Balance over time
| Year | Principal | Interest | Balance |
|---|
Principal & interest only — taxes, insurance and PMI aren't amortized.
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What a $200,000 loan has cost over the years
The monthly principal and interest on a 30-year $200,000 loan at each year’s average rate. The 18.63% record from 1981 is shown for scale, though its bar is capped.
At the all-time low of 2.65% on January 7, 2021, this loan would have cost $806 a month, $562 less than today. See every year on historical mortgage rates.
The same $200,000 loan at different rates
| Rate | Monthly P&I | vs today | Total interest |
|---|---|---|---|
| 5% | $1,074 | −$295 | $186,512 |
| 5.5% | $1,136 | −$233 | $208,808 |
| 6% | $1,199 | −$169 | $231,676 |
| 6.5% | $1,264 | −$104 | $255,089 |
| 7% | $1,331 | −$38 | $279,018 |
| 7.28% (today) | $1,368 | — | $292,633 |
| 7.5% | $1,398 | +$30 | $303,434 |
| 8% | $1,468 | +$99 | $328,310 |
Every full point on the rate moves this payment by roughly $138 a month.
30-year or 15-year?
The 15-year loan costs $385 more each month but saves $177,052 in interest and clears the debt in half the time.
Where the payments go
Early payments are mostly interest. In the first year of the 30-year loan you would pay about $14,497 in interest and only $1,924 toward the balance. After five years you would still owe about $188,816, and after ten years about $172,738. The amortization calculator shows the full schedule, and the early payoff calculator shows what extra payments save.
Income and home price
Keeping principal and interest to 28% of gross pay takes an income of about $58,647. Property tax, insurance and PMI come on top, so the real figure is higher. With 20% down, a $200,000 loan buys a $250,000 home; with 10% down, about $222,222. To work backward from your income, try the home affordability calculator.
$200,000 mortgage — FAQ
What is the monthly payment on a $200,000 mortgage?
At the 7.28% national average 30-year fixed rate for the week of October 1, 2026, principal and interest on a $200,000 loan come to about $1,368 a month. On a 15-year fixed at 6.6%, it is about $1,753. Property tax, homeowners insurance and any PMI are added on top.
How much income do I need for a $200,000 mortgage?
Lenders commonly cap housing costs at 28% of gross monthly income. Principal and interest alone on a 30-year $200,000 loan at 7.28% would need an income of about $58,647 a year. Taxes, insurance and other debts raise that figure.
How much interest will I pay on a $200,000 mortgage?
Over 30 years at 7.28%, you would pay about $292,633 in interest if you keep the loan to term. A 15-year loan at 6.6% cuts that to about $115,581, a saving of $177,052, in exchange for a payment $385 a month higher.
How much does a 1% higher rate add to a $200,000 mortgage payment?
Going from 7.28% to 8.28% on a 30-year $200,000 loan adds about $138 a month, or $49,798 over the full term.
Rates are the national average from the Freddie Mac Primary Mortgage Market Survey® for the week of October 1, 2026. Payments are principal and interest only on a fixed-rate loan. Your rate depends on your credit, down payment and lender.
