$750,000 loan: monthly payment by rate
| Rate | 30-year | 15-year | Total interest (30y) |
|---|---|---|---|
| 5% | $4,026.16 | $5,930.95 | $699,418 |
| 5.5% | $4,258.42 | $6,128.13 | $783,030 |
| 6% | $4,496.63 | $6,328.93 | $868,786 |
| 6.5% | $4,740.51 | $6,533.31 | $956,584 |
| 7% | $4,989.77 | $6,741.21 | $1,046,317 |
| 7.5% | $5,244.11 | $6,952.59 | $1,137,879 |
| 8% | $5,503.23 | $7,167.39 | $1,231,164 |
Worked example
At 6.5% for 30 years, r = 6.5 ÷ 12 ÷ 100 = 0.0054167 and n = 360, so the payment is $4,740.51 a month and you would pay $956,584 in interest over the loan. A 15-year term raises the payment to $6,533.31 but cuts interest to $425,995, saving $530,589.
Buying a $750,000 house vs borrowing $750,000
If $750,000 is the price and you put 20% down, you borrow $600,000: $3,792.41 a month at 6.5% (30 years). Borrowing $750,000 with 20% down means a home price of about $937,500.
Under the traditional 28% guideline (housing cost ≤ 28% of gross income), a $4,740.51 principal-and-interest payment alone suggests a gross income of about $203,165 a year; taxes and insurance push that higher.
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Related
Frequently asked questions
What is the monthly payment on a $750,000 mortgage?
$4,740.51 at 6.5% for 30 years, or $6,533.31 for 15 years (principal and interest).
How much interest on a $750,000 mortgage?
About $956,584 over 30 years at 6.5%.
What income do I need for a $750,000 mortgage?
Roughly $203,165+ a year under the 28% guideline, before taxes and insurance.