House Payment Calculator 2026
Estimate your monthly house payment instantly — including principal, interest, taxes, and insurance. Updated with February 2026 rates (6.10%).
QUICK ANSWER: House Payment Examples at 6.10% (Feb 2026, 20% down)
$200K home = $1,280/mo | $300K home = $1,882/mo | $400K home = $2,477/mo | $500K home = $3,070/mo (includes taxes & insurance estimates). With less than 20% down, add $100-$300/mo for PMI.
House Payment Examples by Home Price (6.10%, 30-Year Fixed)
| Home Price | Down Payment | P&I | Taxes/mo | Insurance | Total Payment |
|---|---|---|---|---|---|
| $200,000 | 20% ($40K) | $972 | $183 | $125 | $1,280 |
| $300,000 | 20% ($60K) | $1,457 | $275 | $150 | $1,882 |
| $400,000 | 20% ($80K) | $1,943 | $367 | $167 | $2,477 |
| $500,000 | 20% ($100K) | $2,429 | $458 | $183 | $3,070 |
| $600,000 | 20% ($120K) | $2,914 | $550 | $200 | $3,664 |
Assumes 20% down, 1.1% property tax rate, national avg insurance. Add PMI if down payment < 20%.
Compare rates from 50+ lenders — some below 6.10%
No credit impact. Get your personalized rate in minutes.
Mortgage Calculator
Monthly Payment
$1,616
Payment Breakdown
Loan Summary
Understanding Your Mortgage
Principal vs Interest
In the early years of your mortgage, most of your monthly payment goes toward interest. As you pay down your loan, more goes toward principal.
Extra Payments
Making even small additional payments can significantly reduce your loan term and save thousands in interest over the life of your loan.
Amortization
An amortization schedule shows how your loan balance decreases over time as you make payments, eventually reaching zero at the end of your loan term.
How Much House Payment Can I Afford?
Lenders use the 28/36 rule: your total house payment (PITI) should not exceed 28% of your gross monthly income. Here's what that means by income level:
| Annual Income | Monthly Gross | Max House Payment (28%) | Est. Max Home Price |
|---|---|---|---|
| $50,000/yr | $4,167 | $1,167/mo | ~$185,000 |
| $75,000/yr | $6,250 | $1,750/mo | ~$280,000 |
| $100,000/yr | $8,333 | $2,333/mo | ~$370,000 |
| $125,000/yr | $10,417 | $2,917/mo | ~$465,000 |
| $150,000/yr | $12,500 | $3,500/mo | ~$560,000 |
| $200,000/yr | $16,667 | $4,667/mo | ~$745,000 |
Assumes 20% down, 6.10% rate, 1.1% taxes, $150/mo insurance. Actual qualification depends on credit score, DTI, and lender guidelines.
What Makes Up a House Payment?
Principal
Reduces your loan balance. Only ~20-30% of early payments go to principal — most goes to interest initially.
Interest
Cost of borrowing. At 6.10% on a $240K loan, you pay ~$1,220 in interest in month 1 vs only $237 in principal.
Taxes
Property taxes escrowed monthly. National average: 1.1%/year ($275/mo on $300K home). Varies widely by state.
Insurance
Homeowners insurance + PMI (if down payment < 20%). National avg: $125-$200/mo. PMI: $50-$250/mo.
How to Lower Your House Payment
Put 20% down
Eliminates PMI ($100-$300/mo savings)
Improve your credit score
Going from 680 to 760 can save 0.5-1.0% on rate — $100-$200/mo on a $300K loan
Choose a 30-year over 15-year term
Lower monthly payment (but more total interest paid)
Buy in a lower property tax state
Moving from NJ (2.23%) to AL (0.41%) saves $500+/mo on a $350K home
Shop multiple lenders
Rate differences of 0.5% = $100/mo on a $300K loan. Always compare 3+ lenders.
Buy down the rate with points
1 point (1% of loan) typically buys 0.25% rate reduction. Break-even: ~4 years.
Get Your Personalized House Payment Quote
Compare rates from 50+ lenders. See your exact payment before you commit. No credit impact.