$500,000 Mortgage Payment
Monthly cost on a $500,000 home at 6.5% interest with 20% down — adjust any value below.
| Component | Monthly |
|---|---|
| Principal & interest | — |
| Property tax | — |
| Home insurance | — |
What is the monthly payment on a $500,000 mortgage?
The calculator above is preset to a $500,000 home price with a 20% down payment and a 6.5% interest rate over 30 years. At those terms the estimated principal-and-interest payment is roughly $2,528 per month, before property tax and insurance. Change any field to match your own situation and the numbers update instantly.
How your rate and term change the payment
Interest rate has a large effect: even a one-point change on a $500,000 loan can move the monthly payment by a meaningful amount. Choosing a 15-year term instead of 30 raises the monthly payment to around $3,484 but dramatically lowers the total interest you pay over the life of the loan. Use the term dropdown to compare.
Don't forget taxes and insurance
Your true monthly housing cost includes property tax and homeowners insurance, which vary by location. The calculator estimates these from typical national rates, but your actual amounts may differ — check local figures for the most accurate result. If your down payment is under 20%, you'll likely also pay private mortgage insurance (PMI).
Shopping for the best rate
The rate you qualify for depends on your credit, down payment, and the lender. It pays to compare offers from several lenders before committing — even a small rate difference adds up to thousands over a 30-year loan.