Mortgage payments2 min read · Updated October 19, 2026
$200,000 mortgage payment: monthly cost at 5.5% to 7.5%
Monthly principal and interest on a $200,000 mortgage over 30 and 15 years at rates from 5.5% to 7.5%, with the total interest.
Monthly payment by rate
| Rate | 30 years / 15 years |
| 5.5% | $1,136 / $1,634 |
| 6% | $1,199 / $1,688 |
| 6.5% | $1,264 / $1,742 |
| 7% | $1,331 / $1,798 |
| 7.5% | $1,398 / $1,854 |
Principal and interest only, on the full $200,000.
Total interest
At 6.5% over 30 years you pay about $255,089 in interest on $200,000. Over 15 years it is about $113,599.
What else is in your payment
Most lenders add property tax and homeowners insurance to your payment through an escrow account. If your down payment is under 20%, expect mortgage insurance too. Your Loan Estimate shows the full monthly cost.
Common questions
What is the monthly payment on a $200,000 mortgage?
At 6.5% over 30 years, principal and interest is about $1,264. Taxes and insurance are extra.
Is a 15-year mortgage better than 30?
It costs more each month and much less in interest. A 30-year loan keeps the payment lower and gives room to pay extra when you choose.
What rate should I use?
Use the rate on your Loan Estimate or current lender quotes. The table shows five rates so you can compare.