Mortgage payment on a $200K house
$1,327 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $56,900.
On a $200,000 home with $40,000 (20%) down, you borrow $160,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $1,076 a month. Adding property tax at the U.S. average of 0.9% ($150) and insurance ($100) gives $1,327. Over 30 years you would pay $227,479 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 | $40,000 | $160,000 | $1,076 | $0 | $250 | $1,327 | $56,900 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $250 | $1,536 | $65,800 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $250 | $1,607 | $68,900 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $250 | $1,660 | $71,100 |
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% | $920 | $1,170 | $171,033 |
| 6.11% | $971 | $1,221 | $189,425 |
| 6.61% | $1,023 | $1,273 | $208,248 |
| 7.11% | $1,076 | $1,327 | $227,479 |
| 7.61% | $1,131 | $1,381 | $247,095 |
| 8.11% | $1,186 | $1,436 | $267,074 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $1,076 | $1,327 | $227,479 |
| 20 years at 7.11% | $1,251 | $1,501 | $140,256 |
| 15 years at 6.45% | $1,389 | $1,640 | $90,088 |
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 $200K 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% | $64 | $1,240 | $53,200 |
| Alaska | 1.06% | $176 | $1,352 | $58,000 |
| Arizona | 0.44% | $74 | $1,250 | $53,600 |
| Arkansas | 0.5% | $83 | $1,260 | $54,000 |
| California | 0.72% | $120 | $1,296 | $55,500 |
| Colorado | 0.52% | $86 | $1,263 | $54,100 |
| Connecticut | 1.59% | $264 | $1,441 | $61,700 |
| Delaware | 0.49% | $81 | $1,257 | $53,900 |
| District of Columbia | 0.67% | $112 | $1,288 | $55,200 |
| Florida | 0.8% | $134 | $1,310 | $56,100 |
| Georgia | 0.77% | $129 | $1,305 | $55,900 |
| Hawaii | 0.26% | $44 | $1,220 | $52,300 |
| Idaho | 0.42% | $70 | $1,246 | $53,400 |
| Illinois | 1.92% | $320 | $1,496 | $64,100 |
| Indiana | 0.74% | $123 | $1,299 | $55,700 |
| Iowa | 1.27% | $212 | $1,388 | $59,500 |
| Kansas | 1.24% | $207 | $1,384 | $59,300 |
| Kentucky | 0.72% | $119 | $1,296 | $55,500 |
| Louisiana | 0.55% | $91 | $1,268 | $54,300 |
| Maine | 0.92% | $153 | $1,330 | $57,000 |
| Maryland | 0.98% | $163 | $1,340 | $57,400 |
| Massachusetts | 1.01% | $169 | $1,345 | $57,600 |
| Michigan | 1.17% | $196 | $1,372 | $58,800 |
| Minnesota | 1.04% | $173 | $1,350 | $57,800 |
| Mississippi | 0.65% | $108 | $1,284 | $55,000 |
| Missouri | 0.79% | $132 | $1,308 | $56,100 |
| Montana | 0.69% | $115 | $1,291 | $55,300 |
| Nebraska | 1.31% | $219 | $1,395 | $59,800 |
| Nevada | 0.47% | $79 | $1,255 | $53,800 |
| New Hampshire | 1.43% | $239 | $1,415 | $60,700 |
| New Jersey | 1.82% | $303 | $1,479 | $63,400 |
| New Mexico | 0.63% | $105 | $1,282 | $54,900 |
| New York | 1.42% | $237 | $1,414 | $60,600 |
| North Carolina | 0.64% | $106 | $1,282 | $55,000 |
| North Dakota | 0.92% | $154 | $1,330 | $57,000 |
| Ohio | 1.22% | $204 | $1,380 | $59,100 |
| Oklahoma | 0.76% | $127 | $1,303 | $55,900 |
| Oregon | 0.79% | $132 | $1,308 | $56,100 |
| Pennsylvania | 1.12% | $187 | $1,364 | $58,400 |
| Rhode Island | 1.02% | $171 | $1,347 | $57,700 |
| South Carolina | 0.45% | $74 | $1,251 | $53,600 |
| South Dakota | 1.04% | $173 | $1,349 | $57,800 |
| Tennessee | 0.46% | $76 | $1,252 | $53,700 |
| Texas | 1.32% | $220 | $1,397 | $59,900 |
| Utah | 0.5% | $84 | $1,260 | $54,000 |
| Vermont | 1.51% | $251 | $1,427 | $61,200 |
| Virginia | 0.71% | $118 | $1,295 | $55,500 |
| Washington | 0.81% | $135 | $1,311 | $56,200 |
| West Virginia | 0.51% | $85 | $1,262 | $54,100 |
| Wisconsin | 1.2% | $201 | $1,377 | $59,000 |
| Wyoming | 0.56% | $93 | $1,269 | $54,400 |
Other home prices
Frequently asked questions
What is the monthly payment on a $200K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $200,000 house is about $1,076 for principal and interest, or $1,327 including average property tax and insurance.
How much income do I need for a $200K house?
Lenders generally want housing costs under 28% of gross income. A $1,327 monthly payment needs about $56,900 a year, assuming no other large debts.
How much do I need to put down on a $200K house?
20% is $40,000 and avoids PMI. Conventional loans allow as little as 3–5% ($6,000–$10,000) and FHA loans 3.5% ($7,000), but the monthly payment is higher.