$200,000 Mortgage Payment
Borrowing $200,000 costs $1,264 a month in principal and interest at 6.5% over 30 years, or $1,742 over 15. The tables below cover every half point from 5% to 7.5%, with total interest for both terms.
Monthly payment on $200,000 by rate and term
Principal and interest only, computed with the standard amortisation formula. Rates move daily, which is why the table spans a range rather than quoting one; find your quoted rate in the left column.
| Rate (APR) | 30-year payment | 15-year payment | Total interest (30 yr) |
|---|---|---|---|
| 5.0% | $1,074 | $1,582 | $186,512 |
| 5.5% | $1,136 | $1,634 | $208,808 |
| 6.0% | $1,199 | $1,688 | $231,676 |
| 6.5% | $1,264 | $1,742 | $255,089 |
| 7.0% | $1,331 | $1,798 | $279,018 |
| 7.5% | $1,398 | $1,854 | $303,434 |
Formula details on the calculator methodology page.
What moves this payment
Across the range above, two and a half points of rate move the 30-year payment on $200,000 by $325 a month, which is why rate shopping is worth real money at this loan size. Term is the other lever: at 6.5% the 15-year option costs $478 more each month and saves about $141,490 in total interest, because you are renting the money for half as long.
Remember these are principal and interest only. Property tax, homeowners insurance, and PMI when the down payment is under 20% all stack on top, and they are the usual reason a real payment exceeds the calculator figure. Our guide on what actually goes into a monthly mortgage payment breaks the full bill down.
Other loan amounts
- $150,000 mortgage payment $948 a month at 6.5% over 30 years.
- $250,000 mortgage payment $1,580 a month at 6.5% over 30 years.
- $300,000 mortgage payment $1,896 a month at 6.5% over 30 years.
- $350,000 mortgage payment $2,212 a month at 6.5% over 30 years.
Frequently asked questions
What is the monthly payment on a $200,000 mortgage?
At 6.5% the principal and interest payment is $1,264 a month on a 30-year term, or $1,742 on a 15-year term. Across the 5% to 7.5% rate range, the 30-year payment runs from $1,074 to $1,398. Taxes, insurance, and any PMI come on top.
How much income do I need for a $200,000 mortgage?
Under the common 28% rule of thumb, the $1,264 payment at 6.5% over 30 years suggests a gross income around $54,177 a year. Lenders look at your full debt picture rather than one ratio, so treat this as a first filter, not an approval.
How much interest does a $200,000 mortgage cost in total?
At 6.5%, about $255,089 over a 30-year term versus $113,599 over 15 years. The shorter term saves roughly $141,490 in interest in exchange for the higher monthly payment.
Does this include taxes and insurance?
No. These figures are principal and interest only. Property tax, homeowners insurance, PMI below 20% down, and any HOA fees are added on top, and together they commonly add several hundred dollars a month. The calculator alongside has a field for them.
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