Monthly payment on an $800,000 mortgage
At an illustrative 6.5% fixed rate over 30 years, an $800,000 loan has a principal-and-interest payment of about $5,057 a month. Over 15 years it is about $6,969.
An $800,000 loan is $32,750 under the 2026 baseline conforming loan limit of $832,750 for a one-unit home, so it is not a jumbo loan in most counties.
Illustrative rates, not current offers. The calculator adds placeholder property tax and insurance to the $5,057 principal and interest; replace any figure with your own quote.
- Formula and assumptions shown
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Payment by rate and term
| Rate | 15 years | 20 years | 30 years |
|---|---|---|---|
| 5% | $6,326 | $5,280 | $4,295 |
| 5.5% | $6,537 | $5,503 | $4,542 |
| 6% | $6,751 | $5,731 | $4,796 |
| 6.5% reference | $6,969 | $5,965 | $5,057 |
| 7% | $7,191 | $6,202 | $5,322 |
| 7.5% | $7,416 | $6,445 | $5,594 |
| 8% | $7,645 | $6,692 | $5,870 |
Rates from 5% to 8% are an illustrative band chosen to show how the payment moves. They are not current rates or offers, and the site has no rate feed. The 6.5% reference rate is the middle of that band. Taxes, insurance, PMI and HOA dues are not included.
What each half point changes
| Rate step | Monthly change |
|---|---|
| 5% to 5.5% | +$248 |
| 5.5% to 6% | +$254 |
| 6% to 6.5% | +$260 |
| 6.5% to 7% | +$266 |
| 7% to 7.5% | +$271 |
| 7.5% to 8% | +$276 |
15 years or 30 years
| 15 years | 30 years | Difference | |
|---|---|---|---|
| Monthly payment | $6,969 | $5,057 | +$1,912 |
| Total interest | $454,395 | $1,020,356 | −$565,961 |
| Total paid | $1,254,395 | $1,820,356 | −$565,961 |
Both terms use the same rate so the comparison shows the effect of the term alone. 15-year loans typically carry lower rates, which would widen the gap. Compare 15 and 30 years with your own rates.
Income needed
About $270,280 a year before tax keeps this loan within both ratios. The 28% housing ratio sets that figure. These are common lender guidelines, not an approval: lenders set their own limits.
| Purchase price (20% down) | $1,000,000 |
|---|---|
| Principal and interest | $5,057 a month |
| Property tax (1% of price a year) | $833 a month |
| Home insurance ($5,000 a year) | $417 a month |
| Housing payment | $6,307 a month |
| Plus other debts | $500 a month |
| Income at 28% housing ratio | $270,280 a year |
| Income at 36% total-debt ratio | $226,885 a year |
| Income needed (the higher) | $270,280 a year |
Income estimates divide the monthly housing cost by 28% and housing plus other debts by 36%, then take the higher result. 28% is a common rule of thumb for housing costs; 36% is the Fannie Mae maximum total ratio for manually underwritten loans, which it allows to be exceeded in some cases. Lenders set their own limits, so this is not an approval estimate. Placeholder costs are listed under Assumptions. Try your own income and debts.
Loan or house price
| Down payment | Purchase price | Cash down | PMI likely |
|---|---|---|---|
| 5% | $842,105 | $42,105 | Yes |
| 10% | $888,889 | $88,889 | Yes |
| 20% | $1,000,000 | $200,000 | No |
If $800,000 is the house price
| Down payment | Cash down | Loan | Monthly payment |
|---|---|---|---|
| 5% | $40,000 | $760,000 | $4,804 |
| 10% | $80,000 | $720,000 | $4,551 |
| 20% | $160,000 | $640,000 | $4,045 |
Conventional loans with less than 20% down usually require private mortgage insurance, which is not included here. Closing costs are also excluded. Plan a down payment.
Balance over time
| After | Balance left | Principal repaid | Interest paid |
|---|---|---|---|
| 5 years | $748,888 | $51,112 | $252,280 (83% of payments) |
| 10 years | $678,209 | $121,791 | $484,994 (80% of payments) |
| 15 years | $580,473 | $219,527 | $690,651 (76% of payments) |
Principal first exceeds interest in payment 233, during year 20. Extra payments move that point earlier; see extra payments.
Conforming loan limit
A $800,000 loan is within the 2026 baseline conforming loan limit of $832,750 for a one-unit home, so it is not a jumbo loan in most of the country. FHFA resets these limits every year. FHFA 2026 limits
Assumptions
- Principal and interest use a fixed rate, monthly payments and a fully amortizing schedule. PMI, HOA dues, closing costs, points and rate changes are excluded.
- Placeholders: 20% down, property tax 1% of the price per year, insurance 0.5% of the price per year (rounded to $100) and $500 of other monthly debt. Replace them with your own figures.
- Figures are rounded to whole dollars. The calculator above shows cents and a full monthly schedule.
Questions
What income do I need for an $800k mortgage?
About $270,280 a year before tax with the placeholder assumptions, set by the 28% housing ratio on a housing cost of about $6,307 a month.
Is an $800k mortgage a jumbo loan?
Not under the 2026 baseline limit of $832,750 that FHFA set for one-unit homes in most of the country. Limits are higher in some high-cost areas, and they change every year.
How much does a 15-year term save on $800k?
The 15-year payment is about $1,912 a month higher at the same rate, and total interest falls from about $1,020,356 to $454,395, a saving of about $565,961.
How much does the rate change the payment?
Going from 6.5% to 7% adds about $266 a month over 30 years. Across the 5% to 8% band the payment moves by about $1,576.
Sources
- CFPB: principal and interest versus the total monthly payment
- CFPB: what is a debt-to-income ratio?
- Fannie Mae Selling Guide B3-6-02: debt-to-income ratios
- CFPB: loan options, including 15- and 30-year terms
- FHFA: conforming loan limit values for 2026
These references explain the concepts behind the calculation. They do not endorse this site. Estimates leave out any cost or condition you did not enter.