30-year loan · 20% down · 6.9% APR
Your monthly payment changes significantly with rate. Here's how a $80,000 loan ($100,000 with 20% down) compares across common rates for a 30-year term:
| Rate | Monthly Payment | Total Interest | Total Paid |
|---|---|---|---|
| 5.5% | $454.23 | $83,523 | $163,523 |
| 6% | $479.64 | $92,671 | $172,671 |
| 6.5% | $505.65 | $102,036 | $182,036 |
| 6.9% ★ | $526.88 | $109,677 | $189,677 |
| 7% | $532.24 | $111,607 | $191,607 |
| 7.5% | $559.37 | $121,374 | $201,374 |
| 8% | $587.01 | $131,324 | $211,324 |
| Term | Monthly Payment | Total Interest | Interest Saved vs 30yr |
|---|---|---|---|
| 15 years | $714.60 | $48,628 | $0 saved |
| 20 years | $615.45 | $67,707 | $0 saved |
| 30 years ★ | $526.88 | $109,677 | — |
Your mortgage payment is just part of total housing costs. Estimate the full picture:
Total housing cost estimate: $735–$860/month