Mortgage payment on a $600K house
$3,980 a month with 20% down at 7.11% — including property tax and insurance. You'd need an income of about $170,600.
On a $600,000 home with $120,000 (20%) down, you borrow $480,000. At 7.11% (30-year fixed, Freddie Mac average for the week of Nov 12, 2026), principal and interest come to $3,229 a month. Adding property tax at the U.S. average of 0.9% ($451) and insurance ($300) gives $3,980. Over 30 years you would pay $682,437 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 | $120,000 | $480,000 | $3,229 | $0 | $751 | $3,980 | $170,600 |
| 10% down | $60,000 | $540,000 | $3,633 | $225 | $751 | $4,608 | $197,500 |
| 5% down | $30,000 | $570,000 | $3,834 | $238 | $751 | $4,822 | $206,700 |
| 3.5% down (FHA) | $21,000 | $589,133 | $3,963 | $265 | $751 | $4,979 | $213,400 |
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% | $2,759 | $3,509 | $513,098 |
| 6.11% | $2,912 | $3,662 | $568,275 |
| 6.61% | $3,069 | $3,819 | $624,744 |
| 7.11% | $3,229 | $3,980 | $682,437 |
| 7.61% | $3,392 | $4,143 | $741,285 |
| 8.11% | $3,559 | $4,309 | $801,221 |
15 vs 20 vs 30-year mortgage
| Term | Principal + interest | Total / month | Total interest |
|---|---|---|---|
| 30 years at 7.11% | $3,229 | $3,980 | $682,437 |
| 20 years at 7.11% | $3,753 | $4,504 | $420,767 |
| 15 years at 6.45% | $4,168 | $4,919 | $270,264 |
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 $600K 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% | $192 | $3,721 | $159,500 |
| Alaska | 1.06% | $528 | $4,057 | $173,900 |
| Arizona | 0.44% | $221 | $3,750 | $160,700 |
| Arkansas | 0.5% | $250 | $3,779 | $162,000 |
| California | 0.72% | $359 | $3,888 | $166,600 |
| Colorado | 0.52% | $259 | $3,788 | $162,400 |
| Connecticut | 1.59% | $793 | $4,322 | $185,200 |
| Delaware | 0.49% | $243 | $3,772 | $161,700 |
| District of Columbia | 0.67% | $336 | $3,865 | $165,600 |
| Florida | 0.8% | $401 | $3,930 | $168,400 |
| Georgia | 0.77% | $387 | $3,916 | $167,800 |
| Hawaii | 0.26% | $132 | $3,661 | $156,900 |
| Idaho | 0.42% | $210 | $3,739 | $160,200 |
| Illinois | 1.92% | $960 | $4,489 | $192,400 |
| Indiana | 0.74% | $369 | $3,898 | $167,100 |
| Iowa | 1.27% | $636 | $4,165 | $178,500 |
| Kansas | 1.24% | $622 | $4,151 | $177,900 |
| Kentucky | 0.72% | $358 | $3,887 | $166,600 |
| Louisiana | 0.55% | $274 | $3,803 | $163,000 |
| Maine | 0.92% | $460 | $3,989 | $170,900 |
| Maryland | 0.98% | $490 | $4,019 | $172,200 |
| Massachusetts | 1.01% | $506 | $4,035 | $172,900 |
| Michigan | 1.17% | $587 | $4,116 | $176,400 |
| Minnesota | 1.04% | $520 | $4,049 | $173,500 |
| Mississippi | 0.65% | $324 | $3,853 | $165,100 |
| Missouri | 0.79% | $395 | $3,924 | $168,200 |
| Montana | 0.69% | $345 | $3,874 | $166,000 |
| Nebraska | 1.31% | $656 | $4,185 | $179,400 |
| Nevada | 0.47% | $236 | $3,765 | $161,400 |
| New Hampshire | 1.43% | $717 | $4,246 | $182,000 |
| New Jersey | 1.82% | $909 | $4,438 | $190,200 |
| New Mexico | 0.63% | $316 | $3,845 | $164,800 |
| New York | 1.42% | $712 | $4,241 | $181,800 |
| North Carolina | 0.64% | $318 | $3,847 | $164,900 |
| North Dakota | 0.92% | $461 | $3,990 | $171,000 |
| Ohio | 1.22% | $611 | $4,140 | $177,400 |
| Oklahoma | 0.76% | $381 | $3,910 | $167,600 |
| Oregon | 0.79% | $395 | $3,924 | $168,200 |
| Pennsylvania | 1.12% | $562 | $4,091 | $175,300 |
| Rhode Island | 1.02% | $512 | $4,041 | $173,200 |
| South Carolina | 0.45% | $223 | $3,752 | $160,800 |
| South Dakota | 1.04% | $518 | $4,047 | $173,400 |
| Tennessee | 0.46% | $228 | $3,757 | $161,000 |
| Texas | 1.32% | $661 | $4,190 | $179,600 |
| Utah | 0.5% | $252 | $3,781 | $162,000 |
| Vermont | 1.51% | $753 | $4,282 | $183,500 |
| Virginia | 0.71% | $355 | $3,884 | $166,500 |
| Washington | 0.81% | $405 | $3,934 | $168,600 |
| West Virginia | 0.51% | $256 | $3,785 | $162,200 |
| Wisconsin | 1.2% | $602 | $4,131 | $177,000 |
| Wyoming | 0.56% | $278 | $3,807 | $163,200 |
Other home prices
Frequently asked questions
What is the monthly payment on a $600K house?
With 20% down and a 30-year fixed rate of 7.11%, the payment on a $600,000 house is about $3,229 for principal and interest, or $3,980 including average property tax and insurance.
How much income do I need for a $600K house?
Lenders generally want housing costs under 28% of gross income. A $3,980 monthly payment needs about $170,600 a year, assuming no other large debts.
How much do I need to put down on a $600K house?
20% is $120,000 and avoids PMI. Conventional loans allow as little as 3–5% ($18,000–$30,000) and FHA loans 3.5% ($21,000), but the monthly payment is higher.