Mortgage Analysis
Monthly Payment on a $200,000 Home
With a 20% down payment ($40,000) at a 6.58% interest rate, a $200,000 home has a monthly principal and interest payment of $1,020 on a 30-year mortgage, or $1,340 on a 15-year mortgage.
Latest rate: 6.58% (30-yr) / 5.88% (15-yr) from Freddie Mac via FRED for week of 2026-07-23 | Principal and interest only — excludes taxes, insurance, and private mortgage insurance | Use the live calculator to enter your exact rate
Monthly (30-yr)
$1,020
20% down | 6.58% rate
Monthly (15-yr)
$1,340
20% down | 5.88% rate
Total Interest (30-yr)
$207,107
over life of loan
Breakdown by Down Payment
Monthly principal and interest only at 6.58% (30-yr) and 5.88% (15-yr) | Freddie Mac data via FRED for week of 2026-07-23
| Down Payment | Down Amount | Loan Amount | 30-yr Payment | 15-yr Payment |
|---|---|---|---|---|
| 3% | $6,000 | $194,000 | $1,236 | $1,625 |
| 5% | $10,000 | $190,000 | $1,211 | $1,591 |
| 10% | $20,000 | $180,000 | $1,147 | $1,507 |
| 20% | $40,000 | $160,000 | $1,020 | $1,340 |
The Inflation Connection
Mortgage rates are closely tied to inflation. When inflation runs high, the Federal Reserve raises interest rates to cool the economy — which pushes mortgage rates up and increases your monthly payment. A 1-point rate increase on a $160,000 loan adds approximately $108 to your monthly payment. Tracking inflation helps you understand where mortgage rates may be headed.
Get a Live Rate Estimate
The figures above use the latest weekly rate from Freddie Mac (6.58% as of 2026-07-23). Use the full calculator to enter your exact home price, down payment, and loan term — with the rate pre-filled from the Federal Reserve each week.
Open Live Calculator →Other Home Prices
Data Source
Mortgage rate uses the 30-year fixed-rate average published weekly by Freddie Mac via the Federal Reserve Bank of St. Louis (FRED series MORTGAGE30US), last updated week of 2026-07-23. The 15-year rate is estimated at approximately 0.7 percentage points below the 30-year rate, consistent with the typical spread. Figures are principal and interest only — property taxes, homeowners insurance, and private mortgage insurance are excluded. fred.stlouisfed.org | Money & Prices