Question 1

What is the monthly mortgage payment at 7.5% on a $200,000 home?

Accepted Answer

At a 7.5% fixed rate with 20% down, the monthly principal and interest on a $200,000 home is $1,119. Total interest over 30 years: $242,748.

Question 2

How does a 7.5% mortgage rate compare to other rates?

Accepted Answer

On a $200,000 home with 20% down, each 1% increase in rate adds roughly $112/month to the P&I payment. At 6.5%, the monthly payment drops to $1,011.

Down Payment	Loan Amount	Monthly P&I	Total Interest
5% ($10,000)	$190,000	$1,329	$288,263
10% ($20,000)	$180,000	$1,259	$273,091
20% ($40,000)	$160,000	$1,119	$242,748
25% ($50,000)	$150,000	$1,049	$227,576
30% ($60,000)	$140,000	$979	$212,404

Term	Rate	Monthly P&I	Total Interest
30-Year Fixed	7.5%	$1,119	$242,748
15-Year Fixed	6.9%	$1,429	$97,255

Mortgage Payment at 7.5% on a $200,000 Home

30-Year Fixed at 7.5%