Mortgage Payment at 5% on a $200,000 Home
At a 5% fixed rate, the monthly principal and interest payment on a $200,000 home (with 20% down) is $859. Total cost over 30 years: $309,209 ($149,209 in interest).
30-Year Fixed at 5%
$859
Monthly P&I
$149,209
Total Interest
$160,000
Loan Amount (20% down)
By Down Payment
| Down Payment | Loan Amount | Monthly P&I | Total Interest |
|---|---|---|---|
| 5% ($10,000) | $190,000 | $1,020 | $177,186 |
| 10% ($20,000) | $180,000 | $966 | $167,860 |
| 20% ($40,000) | $160,000 | $859 | $149,209 |
| 25% ($50,000) | $150,000 | $805 | $139,884 |
| 30% ($60,000) | $140,000 | $752 | $130,558 |
30-Year vs 15-Year at 5%
| Term | Rate | Monthly P&I | Total Interest |
|---|---|---|---|
| 30-Year Fixed | 5.0% | $859 | $149,209 |
| 15-Year Fixed | 4.6% | $1,232 | $61,793 |