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How much would I pay on a $200,000 mortgage?

Repayments, total interest and amortization to borrow with confidence.

Britny Lawhorn

Updated May 4, 2021

Fact checked

If you’re ready to buy a home, you might wonder how to budget for your target home cost. Here’s a breakdown of what you might face monthly, in interest and over the life of a $200,000 mortgage.

Monthly mortgage payment calculator

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Fill out the form and click on “Calculate” to see your estimated monthly payment.

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Based on your loan terms...

You can expect to pay back $ per month

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$ in principal and $ in interest charged, with a total cost of $ Compare lenders

1. Enter how much you want to borrow under Loan amount.
2. Type in your mortgage term in years (not months) under the Loan terms field.
3. Enter the loan’s interest rate if it doesn’t come with any fees under Interest rate. Note that your monthly mortgage payments will vary depending on your interest rate, taxes, PMI costs and other related fees. If you have this information available, you can enter the annual percentage rate (APR), which includes interest and fees combined.
4. Select Calculate.
5. Review your results.

Monthly payments on a $200,000 mortgage

At a 4% fixed interest rate, your monthly mortgage payment on a 30-year mortgage might total $954.83 a month, while a 15-year might cost $1,479.38 a month.

See your monthly payments by interest rate.

Interest	Mortgage term	Monthly payments
3.0%	15 years	$1,381.16
3.0%	30 years	$843.21
3.25%	15 years	$1,405.34
3.25%	30 years	$870.41
3.5%	15 years	$1,429.77
3.5%	30 years	$898.09
3.75%	15 years	$1,454.44
3.75%	30 years	$926.23
4.0%	15 years	$1,479.38
4.0%	30 years	$954.83
4.25%	15 years	$1,504.56
4.25%	30 years	$737.91
4.5%	15 years	$1,529.99
4.5%	30 years	$1,013.37
4.75%	15 years	$1,555.66
4.75%	30 years	$1,043.29
5.0%	15 years	$1,581.59
5.0%	30 years	$1,073.64
5.25%	15 years	$1,607.76
5.25%	30 years	$1,104.41
5.5%	15 years	$1,634.17
5.5%	30 years	$1,135.58

Compare mortgage lenders and brokers

Compare these lenders and lender marketplaces by the type of home loan you're searching for, state availability and minimum credit score (for a conventional loan). Select See rates to provide the company with basic property and financial details for personalized rates.

Name	Loan products offered	State availability	Min. credit score
Morty (NMLS #1429243)	Conventional, Jumbo, Refinance	AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV	660	Preapproval in minutes and closing in as little as 3 weeks with no origination fees.	See rates More Info	loading Fetching your data...
SoFi (NMLS #1121636)	Conventional, Home equity, Refinance	Not available in: HI, MO, NM, NY, WV	620	No hidden fees, multiple loan terms, and member discounts available.	See rates More Info	loading Fetching your data...
Rocket Mortgage (NMLS #3030)	Conventional, Jumbo, FHA, VA, Refinance	Available in all states	620	Streamline your mortgage from quote to final payment — all from your computer or phone.	See rates More Info	loading Fetching your data...
Better (NMLS #330511)	Conventional, Jumbo, FHA, Refinance	Not available in: HI, MA, MN, NV, NH, VT, VA	620	Online preapproval in minutes and no origination fees with this direct lender.	See rates More Info	loading Fetching your data...
LendingTree (NMLS #1136)	Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance	Available in all states	620	Connect with vetted home loan lenders quickly through this online marketplace.	See rates More Info	loading Fetching your data...

Compare up to 4 providers

Your total interest on a $200,000 mortgage

On a 30-year mortgage with a 4% fixed interest rate, you’ll pay $143,739.38 in interest over the life of your loan. That’s about two-thirds of what you borrowed in interest.

If you instead opt for a 15-year mortgage, you’ll pay $66,287.45 in interest over the life of your loan — or about half of the interest you’d pay on a 30-year mortgage.

Interest	Mortgage term	Total interest charged
3.0%	15 years	$48,609.55
3.0%	30 years	$103,554.53
3.25%	15 years	$52,960.81
3.25%	30 years	$113,349.37
3.5%	15 years	$57,357.45
3.5%	30 years	$123,311.97
3.75%	15 years	$61,800.42
3.75%	30 years	$133,443.52
4.0%	15 years	$66,287.45
4.0%	30 years	$143,739.38
4.25%	15 years	$70,819.86
4.25%	30 years	$154,196.69
4.5%	15 years	$75,397.32
4.5%	30 years	$164,813.83
4.75%	15 years	$80,019.82
4.75%	30 years	$175,588.16
5.0%	15 years	$84,685.48
5.0%	30 years	$186,513.24
5.25%	15 years	$89,395.54
5.25%	30 years	$197,585.53
5.5%	15 years	$94,149.77
5.5%	30 years	$208,806.90

How much do I need to make to afford a $200,000 house?

To afford a $200K mortgage with a 20% down payment, 30-year term and 4% interest rate, you’d need to make at least $38,268 a year before taxes. How much you ultimately can afford depends on your down payment, loan terms, taxes and insurance. As a general rule, your mortgage payment shouldn’t exceed one-third of your monthly income.

Amortization schedule

When you take out a mortgage, you agree to pay the principal and interest over the life of the loan. Your interest rate is applied to your balance, and as you pay down your balance, the amount you pay in interest changes.

Amortization means that at the beginning of your loan, a big percentage of your payment is applied to interest. With each subsequent payment, you pay more toward your balance.

Estimate your monthly loan repayments on a $200,000 mortgage at 4% fixed interest with our amortization schedule over 15 and 30 years.

30-year loan
15-year loan

Year	Beginning balance	Monthly payment	Total interest paid	Total principal paid	Total payed throught the year	Remaining balance
1	$200,000.00	$954.83	$7,935.92	$3,522.04	$11,457.96	$196,477.96
2	$196,477.96	$954.83	$7,792.41	$3,665.55	$11,457.96	$192,812.41
3	$192,812.41	$954.83	$7,643.07	$3,814.89	$11,457.96	$188,997.52
4	$188,997.52	$954.83	$7,487.64	$3,970.32	$11,457.96	$185,027.20
5	$185,027.20	$954.83	$7,325.90	$4,132.06	$11,457.96	$180,895.14
6	$180,895.14	$954.83	$7,157.53	$4,300.43	$11,457.96	$176,594.71
7	$176,594.71	$954.83	$6,982.33	$4,475.63	$11,457.96	$172,119.08
8	$172,119.08	$954.83	$6,799.98	$4,657.98	$11,457.96	$167,461.10
9	$167,461.10	$954.83	$6,610.20	$4,847.76	$11,457.96	$162,613.34
10	$162,613.34	$954.83	$6,412.70	$5,045.26	$11,457.96	$157,568.08
11	$157,568.08	$954.83	$6,207.16	$5,250.80	$11,457.96	$152,317.28
12	$152,317.28	$954.83	$5,993.22	$5,464.74	$11,457.96	$146,852.54
13	$146,852.54	$954.83	$5,770.57	$5,687.39	$11,457.96	$141,165.15
14	$141,165.15	$954.83	$5,538.87	$5,919.09	$11,457.96	$135,246.06
15	$135,246.06	$954.83	$5,297.72	$6,160.24	$11,457.96	$129,085.82
16	$129,085.82	$954.83	$5,046.75	$6,411.21	$11,457.96	$122,674.61
17	$122,674.61	$954.83	$4,785.56	$6,672.40	$11,457.96	$116,002.21
18	$116,002.21	$954.83	$4,513.69	$6,944.27	$11,457.96	$109,057.94
19	$109,057.94	$954.83	$4,230.78	$7,227.18	$11,457.96	$101,830.76
20	$101,830.76	$954.83	$3,936.32	$7,521.64	$11,457.96	$94,309.12
21	$94,309.12	$954.83	$3,629.88	$7,828.08	$11,457.96	$86,481.04
22	$86,481.04	$954.83	$3,310.97	$8,146.99	$11,457.96	$78,334.05
23	$78,334.05	$954.83	$2,979.02	$8,478.94	$11,457.96	$69,855.11
24	$69,855.11	$954.83	$2,633.59	$8,824.37	$11,457.96	$61,030.74
25	$61,030.74	$954.83	$2,274.08	$9,183.88	$11,457.96	$51,846.86
26	$51,846.86	$954.83	$1,899.90	$9,558.06	$11,457.96	$42,288.80
27	$42,288.80	$954.83	$1,510.50	$9,947.46	$11,457.96	$32,341.34
28	$32,341.34	$954.83	$1,105.20	$10,352.76	$11,457.96	$21,988.58
29	$21,988.58	$954.83	$683.44	$10,774.52	$11,457.96	$11,214.06
30	$11,214.06	$954.83	$244.48	$11,214.06	$11,458.54	$0.00

Year	Beginning balance	Monthly payment	Total interest paid	Total principal paid	Total payed throught the year	Remaining balance
1	$200,000.00	$1,479.38	$7,819.22	$9,933.34	$17,752.56	$190,066.66
2	$190,066.66	$1,479.38	$7,414.51	$10,338.05	$17,752.56	$179,728.61
3	$179,728.61	$1,479.38	$6,993.32	$10,759.24	$17,752.56	$168,969.37
4	$168,969.37	$1,479.38	$6,554.95	$11,197.61	$17,752.56	$157,771.76
5	$157,771.76	$1,479.38	$6,098.77	$11,653.79	$17,752.56	$146,117.97
6	$146,117.97	$1,479.38	$5,623.95	$12,128.61	$17,752.56	$133,989.36
7	$133,989.36	$1,479.38	$5,129.82	$12,622.74	$17,752.56	$121,366.62
8	$121,366.62	$1,479.38	$4,615.56	$13,137.00	$17,752.56	$108,229.62
9	$108,229.62	$1,479.38	$4,080.36	$13,672.20	$17,752.56	$94,557.42
10	$94,557.42	$1,479.38	$3,523.31	$14,229.25	$17,752.56	$80,328.17
11	$80,328.17	$1,479.38	$2,943.58	$14,808.98	$17,752.56	$65,519.19
12	$65,519.19	$1,479.38	$2,340.26	$15,412.30	$17,752.56	$50,106.89
13	$50,106.89	$1,479.38	$1,712.33	$16,040.23	$17,752.56	$34,066.66
14	$34,066.66	$1,479.38	$1,058.82	$16,693.74	$17,752.56	$17,372.92
15	$17,372.92	$1,479.38	$378.69	$17,372.92	$17,751.61	$0.00

Thank you for your feedback!

Britny Lawhorn

Britny Lawhorn is a publisher for Finder who specializes in mortgages. She’s here to help readers get a better deal when they buy or refinance a home. Prior to joining Finder, she spent more than 5 years working in marketing agencies where she helped businesses grow their audience. She attended the University of Tennessee, where she earned a degree in English. In her free time, she enjoys traveling, volunteer work and dabbles in photography.

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How much would I pay on a $200,000 mortgage?

Repayments, total interest and amortization to borrow with confidence.

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Monthly payments on a $200,000 mortgage

See your monthly payments by interest rate.

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Your total interest on a $200,000 mortgage

See how much you'd pay in total interest based on the interest rate.

How much do I need to make to afford a $200,000 house?

Amortization schedule

Britny Lawhorn

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