The short answer: at a 6.5% rate, a $900,000 30-year fixed mortgage costs $5,688.61 a month in principal and interest; at 7%, $5,987.72. On a 15-year term at 6.5% the payment is $7,839.97. 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% | $4,831.39 | $5,939.60 | $7,117.14 |
| 5.25% | $4,969.83 | $6,064.60 | $7,234.90 |
| 5.50% | $5,110.10 | $6,190.99 | $7,353.75 |
| 5.75% | $5,252.16 | $6,318.75 | $7,473.69 |
| 6.00% | $5,395.95 | $6,447.88 | $7,594.71 |
| 6.25% | $5,541.45 | $6,578.35 | $7,716.81 |
| 6.50% | $5,688.61 | $6,710.16 | $7,839.97 |
| 6.75% | $5,837.38 | $6,843.28 | $7,964.19 |
| 7.00% | $5,987.72 | $6,977.69 | $8,089.45 |
| 7.25% | $6,139.59 | $7,113.38 | $8,215.77 |
| 7.50% | $6,292.93 | $7,250.34 | $8,343.11 |
At 6.5%, interest alone on $900,000 runs about $4,875.00 per month — roughly $160.27 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 $900,000 loan buys about $1,125,000 of house; with 5% down, about $947,368. Enter your own down payment in the payment calculator and the price, loan and LTV solve automatically.