How much is a mortgage if you have a 20% down payment?

Assuming you have a 20% down payment ($40,000), your total mortgage on a $200,000 home would be $160,000 . For a 30-year fixed mortgage with a 3.5% interest rate, you would be looking at a $718 monthly payment. Please keep in mind that the exact cost and monthly payment for your mortgage will vary, depending its length and terms.

How do I get a mortgage for a $200,000 home?

Apply online for free and lock in your rate for 90 days. If you’re ready to buy a home, you might wonder how to budget for your target home cost. Here’s a breakdown of what you might face monthly, in interest and over the life of a $200,000 mortgage. Fill out the form and click on “Calculate” to see your estimated monthly payment.

Should you buy a house if you have a $200,000 mortgage?

Buying a house is among the biggest investments you’ll make. Know how much you might pay each month on your $200,000 mortgage — including how much of your payment goes toward your interest over the principal — when shopping for a lender. Learn more about how home loans work in our comprehensive guide to mortgages.