Mortgage payment on a $1.8M house
$11,939 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $511,700.
On a $1,800,000 home with $360,000 (20%) down, you borrow $1,440,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $9,687 a month. Adding property tax at the U.S. average of 0.9% ($1,352) and insurance ($900) gives $11,939. Over 30 years you would pay $2,047,310 in interest.
Payment by down payment
Putting less than 20% down means a bigger loan and mortgage insurance, so the monthly payment rises:
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $360,000 | $1,440,000 | $9,687 | $0 | $2,252 | $11,939 | $511,700 |
| 10% down | $180,000 | $1,620,000 | $10,898 | $675 | $2,252 | $13,825 | $592,500 |
| 5% down | $90,000 | $1,710,000 | $11,503 | $713 | $2,252 | $14,467 | $620,000 |
| 3.5% down (FHA) | $63,000 | $1,767,398 | $11,889 | $796 | $2,252 | $14,937 | $640,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.9% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Payment at different interest rates
| Rate | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 5.61% | $8,276 | $10,527 | $1,539,295 |
| 6.11% | $8,736 | $10,987 | $1,704,826 |
| 6.61% | $9,206 | $11,458 | $1,874,232 |
| 7.11% | $9,687 | $11,939 | $2,047,310 |
| 7.61% | $10,177 | $12,429 | $2,223,855 |
| 8.11% | $10,677 | $12,928 | $2,403,663 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $9,687 | $11,939 | $2,047,310 |
| 20 years at 7.11% | $11,260 | $13,511 | $1,262,300 |
| 15 years at 6.45% | $12,504 | $14,756 | $810,792 |
A shorter loan costs more each month but saves a lot of interest — and 15-year loans carry a lower rate (6.45% this week).
Mortgage on a $1.8M house in each state
Property tax changes the payment a lot from state to state (20% down):
| State | Tax rate | Tax / month | Total / month | Income needed |
|---|---|---|---|---|
| Alabama | 0.38% | $576 | $11,163 | $478,400 |
| Alaska | 1.06% | $1,584 | $12,171 | $521,600 |
| Arizona | 0.44% | $664 | $11,251 | $482,200 |
| Arkansas | 0.5% | $750 | $11,337 | $485,900 |
| California | 0.72% | $1,078 | $11,665 | $499,900 |
| Colorado | 0.52% | $778 | $11,365 | $487,100 |
| Connecticut | 1.59% | $2,380 | $12,967 | $555,700 |
| Delaware | 0.49% | $730 | $11,317 | $485,000 |
| District of Columbia | 0.67% | $1,007 | $11,594 | $496,900 |
| Florida | 0.8% | $1,202 | $11,789 | $505,300 |
| Georgia | 0.77% | $1,160 | $11,747 | $503,400 |
| Hawaii | 0.26% | $397 | $10,984 | $470,700 |
| Idaho | 0.42% | $630 | $11,217 | $480,700 |
| Illinois | 1.92% | $2,881 | $13,468 | $577,200 |
| Indiana | 0.74% | $1,107 | $11,694 | $501,200 |
| Iowa | 1.27% | $1,908 | $12,495 | $535,500 |
| Kansas | 1.24% | $1,867 | $12,454 | $533,700 |
| Kentucky | 0.72% | $1,075 | $11,662 | $499,800 |
| Louisiana | 0.55% | $821 | $11,408 | $488,900 |
| Maine | 0.92% | $1,379 | $11,966 | $512,800 |
| Maryland | 0.98% | $1,470 | $12,057 | $516,700 |
| Massachusetts | 1.01% | $1,518 | $12,105 | $518,800 |
| Michigan | 1.17% | $1,760 | $12,347 | $529,200 |
| Minnesota | 1.04% | $1,561 | $12,148 | $520,600 |
| Mississippi | 0.65% | $971 | $11,558 | $495,400 |
| Missouri | 0.79% | $1,186 | $11,772 | $504,500 |
| Montana | 0.69% | $1,034 | $11,621 | $498,000 |
| Nebraska | 1.31% | $1,969 | $12,556 | $538,100 |
| Nevada | 0.47% | $709 | $11,296 | $484,100 |
| New Hampshire | 1.43% | $2,150 | $12,737 | $545,900 |
| New Jersey | 1.82% | $2,726 | $13,313 | $570,600 |
| New Mexico | 0.63% | $949 | $11,536 | $494,400 |
| New York | 1.42% | $2,136 | $12,723 | $545,300 |
| North Carolina | 0.64% | $953 | $11,540 | $494,600 |
| North Dakota | 0.92% | $1,384 | $11,971 | $513,100 |
| Ohio | 1.22% | $1,834 | $12,421 | $532,300 |
| Oklahoma | 0.76% | $1,142 | $11,729 | $502,700 |
| Oregon | 0.79% | $1,184 | $11,771 | $504,500 |
| Pennsylvania | 1.12% | $1,687 | $12,274 | $526,000 |
| Rhode Island | 1.02% | $1,536 | $12,123 | $519,500 |
| South Carolina | 0.45% | $670 | $11,257 | $482,400 |
| South Dakota | 1.04% | $1,554 | $12,141 | $520,300 |
| Tennessee | 0.46% | $685 | $11,272 | $483,100 |
| Texas | 1.32% | $1,983 | $12,570 | $538,700 |
| Utah | 0.5% | $756 | $11,343 | $486,100 |
| Vermont | 1.51% | $2,259 | $12,846 | $550,500 |
| Virginia | 0.71% | $1,066 | $11,653 | $499,400 |
| Washington | 0.81% | $1,216 | $11,803 | $505,900 |
| West Virginia | 0.51% | $769 | $11,356 | $486,700 |
| Wisconsin | 1.2% | $1,806 | $12,393 | $531,100 |
| Wyoming | 0.56% | $834 | $11,421 | $489,500 |
Other home prices
Frequently asked questions
What is the monthly payment on a $1.8M house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $1,800,000 house is about $9,687 for principal and interest, or $11,939 including average property tax and insurance.
How much income do I need for a $1.8M house?
Lenders generally want housing costs under 28% of gross income. A $11,939 monthly payment needs about $511,700 a year, assuming no other large debts.
How much do I need to put down on a $1.8M house?
20% is $360,000 and avoids PMI. Conventional loans allow as little as 3–5% ($54,000–$90,000) and FHA loans 3.5% ($63,000), but the monthly payment is higher.