Mortgage payment on a $400,000 house
The calculator already has a $400,000 home with 20% down at 6.5% for 30 years. Change the rate, term, taxes, and extra payments to see your own payment.
Enter a home price and an interest rate to see your monthly payment.
Where your payment goes
| Part of the payment | Per month |
|---|
Above the baseline conforming loan limit
How it’s calculated
- Formula
payment = L × r ÷ (1 − (1 + r)−n)- Where
- L is the loan amount, r is the interest rate per month (annual rate ÷ 12), and n is the number of monthly payments.
- With your numbers
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Amortization schedule
An estimate, not a loan offer
Your lender’s figures can differ. Property tax, insurance, PMI, and fees vary by home, lender, and place. This is general information, not financial or tax advice.Official figures used
PMI. You can ask your servicer to cancel private mortgage insurance when your balance is scheduled to reach 80% of the original value of your home, and the servicer must end it automatically at 78%, as long as you are current on payments. This calculator ends PMI when the balance, including your extra payments, reaches 78% of the home price.
Verified on October 8, 2026. Source: Consumer Financial Protection Bureau (CFPB), when can I remove PMI from my loan.
Conforming loan limit. For 2026, the baseline limit for a one-unit home is $832,750. In high-cost areas it is higher, up to $1,249,125.
Verified on October 8, 2026. Source: Federal Housing Finance Agency (FHFA), 2026 conforming loan limit values.
How to use it
- Enter the home price and your down payment, as a percent or in dollars.
- Enter the interest rate from your lender’s quote and choose a 30, 20, 15, or 10 year term.
- Add property tax, home insurance, HOA dues, and a PMI rate if your down payment is under 20%.
- Add extra payments, monthly, yearly, or one time, to see the interest you save and the new payoff date.
- Read the monthly breakdown and the amortization schedule, then download it as a CSV or copy a link.
Frequently asked questions
How much is the mortgage on a $400,000 house?
With 20% down at 6.5% for 30 years, principal and interest are $2,022.62 a month on a $320,000 loan, before property tax, insurance, and HOA dues.
How much down payment do I need on a $400,000 house?
Twenty percent is $80,000 and avoids PMI. With 10% down ($40,000) the loan is $360,000, and PMI is usually added until the balance reaches 78% of the price.
What income do I need for a $400,000 house?
It depends on your debts and the lender’s rules. As a rough check, a lender looks at the full monthly payment, which is at least $2,022.62 here, against your monthly income and other debts.
Monthly payment on a $400,000 house
With 20% down ($80,000), the loan is $320,000. At 6.5% for 30 years, principal and interest come to $2,022.62 a month. Over 30 years you would pay $408,142 in interest, $728,142 in all. With a 15-year term at the same rate, the payment is $2,787.54 and the interest drops to $181,758. The 6.5% rate is an example, not today’s rate. Enter your own in the mortgage calculator.
Payment on a $400,000 loan by interest rate
| Interest rate | 30-year payment | 15-year payment |
|---|---|---|
| 5.5% | $1,816.92 | $2,614.67 |
| 6% | $1,918.56 | $2,700.34 |
| 6.5% | $2,022.62 | $2,787.54 |
| 7% | $2,128.97 | $2,876.25 |
| 7.5% | $2,237.49 | $2,966.44 |
Principal and interest on a $320,000 loan ($400,000 with 20% down).
How the down payment changes it
| Down payment | Loan amount | Principal and interest | PMI a month | Total a month |
|---|---|---|---|---|
| 5% | $380,000 | $2,401.86 | $158.33 | $2,560.19 |
| 10% | $360,000 | $2,275.44 | $150.00 | $2,425.44 |
| 15% | $340,000 | $2,149.03 | $141.67 | $2,290.70 |
| 20% | $320,000 | $2,022.62 | None | $2,022.62 |
At 6.5% for 30 years. Below 20% down the table adds PMI at an example rate of 0.5% of the loan a year; your lender sets the real rate. Taxes, insurance, and HOA dues are not included.
What an extra $200 a month does
Adding $200 a month to principal on the 20%-down loan pays it off in 23 years and 5 months instead of 30 years and saves $105,429 in interest.
Property tax and insurance come on top
The payment above is principal and interest only. As an illustration, every 1% of the home’s price you pay a year in property tax adds $333.33 a month, and your insurance premium adds more. Enter your real tax and insurance in the calculator to see the full payment.
Updated on October 8, 2026