Monthly P&I Payment · 6.0% · 30-Year · 20% Down
$4,317
Loan amount: $720,000 · Down payment: $180,000
$180,000
Down (20%)
$834,120
Total Interest
$1,554,120
Total Paid (30yr)
$185K+
Salary Needed
15-Year vs 30-Year at 6.0%
30-Year Fixed
$4,317/mo
Total: $1,554,120
Interest: $834,120
15-Year Fixed
$6,076/mo
Total: $1,093,680
Save: $460,440 in interest
How 6.0% Compares to Other Rates
| Rate | Monthly Payment | Total Interest (30yr) | vs 6.0% |
|---|---|---|---|
| 5.5% | $4,088/mo | $751,709 | $82,411 less |
| → 6.0% | $4,317/mo | $834,035 | ← You are here |
Banker's Take on 6.0%
This rate is close to the 30-year historical average. Not a crisis, not a bargain. At 6.0%, your monthly payment on a $900K home is $4,317. Over 30 years, you'll pay the bank $834,120 in interest alone — 116% of what you borrowed.
To qualify, most lenders want your total monthly debt (including this payment) to stay under 43% of your gross monthly income. That means earning at least $185K/year with no other significant debt.
See Your Full Mortgage Picture
Amortization table, all-in cost, lender comparison