The short answer: at a 6.5% rate, a $200,000 30-year fixed mortgage costs $1,264.14 a month in principal and interest; at 7%, $1,330.60. On a 15-year term at 6.5% the payment is $1,742.21. Taxes, insurance, HOA and mortgage insurance (if you put less than 20% down) come on top — open this loan in the full calculator to add them and see the complete amortization schedule.
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.00% | $1,073.64 | $1,319.91 | $1,581.59 |
| 5.25% | $1,104.41 | $1,347.69 | $1,607.76 |
| 5.50% | $1,135.58 | $1,375.77 | $1,634.17 |
| 5.75% | $1,167.15 | $1,404.17 | $1,660.82 |
| 6.00% | $1,199.10 | $1,432.86 | $1,687.71 |
| 6.25% | $1,231.43 | $1,461.86 | $1,714.85 |
| 6.50% | $1,264.14 | $1,491.15 | $1,742.21 |
| 6.75% | $1,297.20 | $1,520.73 | $1,769.82 |
| 7.00% | $1,330.60 | $1,550.60 | $1,797.66 |
| 7.25% | $1,364.35 | $1,580.75 | $1,825.73 |
| 7.50% | $1,398.43 | $1,611.19 | $1,854.02 |
At 6.5%, interest alone on $200,000 runs about $1,083.33 per month — roughly $35.62 every day. That's the number amortization slowly kills: each payment shrinks the balance, so each month a little less goes to interest and a little more to principal. See the month-by-month schedule, or try our daily interest calculator for per-diem closing math.
Principal and interest is the floor, not the payment. A realistic budget adds property taxes, homeowners insurance, HOA dues, and — under 20% down — mortgage insurance, which our full calculator prices the way a lender does: FHA and USDA from the official tables, VA's funding fee, and conventional PMI by credit score.
A common guideline caps total housing costs near 28–36% of gross income, but real qualifying depends on your full debt picture, credit and loan program. Build the complete payment in the calculator, then ask a licensed professional — Phil answers questions free.
With 20% down, a $200,000 loan buys about $250,000 of house; with 5% down, about $210,526. Enter your own down payment in the payment calculator and the price, loan and LTV solve automatically.