Mortgage Payment on a $750,000 House

Monthly payment by down payment (6.5% rate, 30-year)

• 10% down ($75K): $4,266 P&I + $440 PMI + $940 tax/ins = ~$5,646/month
• 15% down ($112.5K): $4,029 P&I + $415 PMI + $940 tax/ins = ~$5,384/month
• 20% down ($150K): $3,792 P&I + $0 PMI + $940 tax/ins = ~$4,732/month
• 25% down ($187.5K): $3,555 P&I + $0 PMI + $940 tax/ins = ~$4,495/month

How rate changes the payment

Same $750K home, 20% down ($600K loan), 30-year:

• 5.0% rate: $3,221 P&I
• 6.0% rate: $3,597 P&I
• 6.5% rate: $3,792 P&I
• 7.0% rate: $3,991 P&I
• 7.5% rate: $4,195 P&I
• 8.0% rate: $4,402 P&I

Income needed for a $750K house

With a total housing payment around $4,732/month (20% down at 6.5%), the 28% rule says you need:

• Comfortable: $175,000–$210,000 annual household income
• Stretched: $150,000–$174,000 (high DTI, less margin)
• Not realistic: under $140,000 — payment exceeds 35% of income

Total cost over 30 years

At 6.5% with 20% down ($600K loan):

• Total interest paid: about $765,000
• Total paid (principal + interest): about $1,365,000
• Plus tax/insurance over 30 years: about $338,000

Yes — by year 30, you'll have paid roughly $1.7 million for a $750K home (before any appreciation). This is why some high-income buyers favor 15-year loans on premium homes.

15-year vs 30-year on a $750K house

• 30-year at 6.5%: $3,792 P&I, $765K total interest
• 15-year at 5.75%: $4,984 P&I, $297K total interest

An extra $1,192/month on the 15-year cuts total interest by $468,000 and frees you from the mortgage entirely in half the time.

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