$450,000 Mortgage Payment
Monthly cost on a $450,000 home at 6.9% interest with 20% down — adjust any value below.
| Component | Monthly |
|---|---|
| Principal & interest | — |
| Property tax | — |
| Home insurance | — |
What is the monthly payment on a $450,000 mortgage?
A $450,000 mortgage runs a bit above the national median home price in 2026 (roughly $404,000-$440,000 per NAR data through the year). At 6.9% over 30 years with 20% down, expect a principal-and-interest payment near $2,371/month.
How your rate and term change the payment
At this loan size, even a quarter-point rate difference between lenders adds up to real money over 30 years — always compare more than one quote. A 15-year term raises the payment to about $3,087/month while cutting total interest substantially; toggle the term dropdown to see the tradeoff.
Don't forget taxes and insurance
Combined tax and insurance on a $450,000 home typically falls between $300 and $550 a month, with your state's property tax rate being the single biggest variable. Check your target county's real number before budgeting.
Shopping for the best rate
Lenders remain competitive at this size since it's not far above the national median. Shop at least three lenders and use full loan estimates to compare — the difference in closing costs alone can be significant.
Down payment options for a $450,000 home
Here's how different down payment sizes change your loan amount and monthly principal & interest on a $450,000 home, assuming a 6.9% rate on a 30-year term:
| Down payment | Loan amount | Monthly P&I |
|---|---|---|
| 5% ($22,500) | $428K | $2,816/mo + ~$249/mo PMI |
| 10% ($45,000) | $405K | $2,667/mo + ~$236/mo PMI |
| 15% ($67,500) | $382K | $2,519/mo + ~$223/mo PMI |
| 20% ($90,000) | $360K | $2,371/mo |
$450,000 home by loan term
Shorter terms typically carry lower rates but higher monthly payments. Here's the tradeoff on a $450,000 home with 20% down ($360K loan):
| Term | Monthly P&I | Total interest |
|---|---|---|
| 30-year at 6.90% | $2,371/mo | $494K |
| 20-year at 6.70% | $2,727/mo | $294K |
| 15-year at 6.25% | $3,087/mo | $196K |
| 10-year at 6.00% | $3,997/mo | $120K |
Who typically buys at this price point
$450,000 usually buys a home with more space or a better location than the national median, particularly outside of the highest-cost coastal metros. Run your full picture through our affordability calculator before committing to this price range.
How much income do you need for a $450,000 home?
At a full monthly payment of $2,933 (principal, interest, taxes, and insurance), the 28% guideline suggests earning at least $10,477/month — about $125,720/year — to afford this comfortably. Your total debt load matters too, so run your numbers through our DTI Calculator before you shop.
What's a typical down payment on a $450,000 home?
Putting 20% down on a $450,000 home means $90,000 upfront and no PMI. At 10% down ($45,000), you'll pay private mortgage insurance until your equity reaches 20%. Our down payment guide breaks down which option makes more sense for your situation.