Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

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

Repayments, total interest and amortization to borrow with confidence.

Jing Jun Ma

Updated Nov 14, 2020

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

See how much you'll pay for your home

Your loan
Loan amount
$
Loan terms (in years)

Interest rate
$ %

CALCULATE

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

Compare lenders

Based on your loan terms...

You can expect to pay back $ per month

This breaks down to...

$ 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. Click 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

Name	Loan products offered	State availability	Min. credit score
Better.com (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...
SoFi (NMLS #1121636)	Conventional, Home equity, Refinance	Not available in: AK, HI, MO, NH, NM, NY, SD, WV	620	No hidden fees, multiple loan terms, and member discounts available.	See rates More Info	loading Fetching your data...
Axos Bank (NMLS #524995)	Conventional, Jumbo, FHA, VA, Home Equity/HELOC, Refinance	Available in all states	620	Purchase, refinance, and home equity options available with lender fees as low as $0 (restrictions apply).	See rates More Info	loading Fetching your data...

Compare up to 4 providers

Features	Loan types: Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance Minimum credit score: Conventional: 620 FHA: 500 VA: 620 USDA: 640 Jumbo: 800 Minimum down payment: 3%

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

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!

Jing Jun Ma

Jing Jun Ma is an innovations expert at Finder. With a decade of experience in digital marketing and programming, Jing is a tech and data guy. He wrangles data to make it useful for consumers facing a decision.

How much would I pay on a $150,000 mortgage? How much would I pay on a $300,000 mortgage?

More guides on Finder

Top school districts to purchase an affordable home
A look at America’s best school districts with the least expensive homes.
How would you spend your savings?
In the age of #adulting, Finder asks Americans what their financial priorities are and what they’re most willing to dip into their savings for.
The states most at risk to identity theft and credit card fraud ranked
If you’re not a fan of fraud, learn what states to avoid living in, including the top 10 metropolitan areas with the highest and lowest levels of identity theft.
Which US cities have the best and worst air quality?
Finder ranks 480 cities across America based on their air quality.
Mortgage rates in New Hampshire
New Hampshire rates generally stay around the national average. Here’s what you need to know.
How much would I pay on a $550,000 mortgage?
Breakdown of what you might pay monthly over the life of a $550,000 mortgage.
How much would I pay on a $500,000 mortgage?
Breakdown of what you might pay monthly over the life of a $500,000 mortgage.
What happens if I need to sell my property for less than the mortgage?
What happens if you buy a property then the market takes a downturn? Will you still have to pay off the full mortgage amount? We find out how it works.
How much can I save by refinancing my student loans?
How much can you save on interest and monthly repayments by refinancing?
USDA approved mortgage lenders
Search our national list of USDA approved lenders and compare providers that can help you get a USDA loan.

Ask an Expert

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

I agree to Finder’s terms of use and privacy and cookie policy, and I opt in to receive email from Finder

Subscribe me to Finder’s free weekly newsletter for budgeting tools, timely news and savings essentials to take control of your finances

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

Best credit cards of 2021: See our winners and top picks

Find the best personal loan offer

Boost your savings with higher yields:

Find the best lenders for your mortgage

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

Repayments, total interest and amortization to borrow with confidence.

Mortgage Guides

How To:

Loan Types

Lender Reviews