Mortgage Payment on a $150,000 House
A $150,000 home costs about $1,046 a month with 20% down at 6.5% over 30 years, including estimated tax and insurance.
Payment on a $150,000 home
| Part of the payment | Per month |
|---|---|
| Principal and interest | $758 |
| Property tax (1.1% a year, est.) | $138 |
| Home insurance (est.) | $150 |
| Total | $1,046 |
This assumes 20% down ($30,000), a $120,000 loan, a 30-year fixed rate of 6.5% and an average property tax. Over 30 years you would pay about $153,053 in interest.
Payment at different interest rates
| Rate | 30-year principal and interest | 15-year principal and interest |
|---|---|---|
| 5% | $644 | $949 |
| 5.5% | $681 | $981 |
| 6% | $719 | $1,013 |
| 6.5% | $758 | $1,045 |
| 7% | $798 | $1,079 |
| 7.5% | $839 | $1,112 |
| 8% | $881 | $1,147 |
Payment with different down payments
| Down payment | Loan | Principal and interest | PMI (est.) |
|---|---|---|---|
| 5% ($7,500) | $142,500 | $901 | $83 |
| 10% ($15,000) | $135,000 | $853 | $79 |
| 15% ($22,500) | $127,500 | $806 | $74 |
| 20% ($30,000) | $120,000 | $758 | $0 |
| 25% ($37,500) | $112,500 | $711 | $0 |
PMI is private mortgage insurance, usually required with less than 20% down. The 0.7% yearly rate is an example.
Income needed
Lenders often want housing to stay near 28% of gross income. A total payment of $1,046 points to an income of roughly $45,000 a year. Your debts, credit score and down payment also matter. Try the home affordability calculator.
Frequently asked questions
How much is the mortgage payment on a $150,000 house?
About $1,046 a month with 20% down at 6.5% for 30 years, including estimated property tax and insurance. Principal and interest alone is $758.
How much income do I need for a $150,000 home?
About $45,000 a year using the 28% housing rule. Lenders also look at other debts.
Does the payment change over time?
With a fixed rate, principal and interest stay the same. Property tax and insurance usually rise.
Sources and method
Page last updated November 2026. See our editorial policy and disclaimer.