Mortgage › $1,200,000 mortgage
$1,200,000 mortgage payment (2026)
A $1,200,000 30-year fixed mortgage at today's average rate of 6.76% costs $7,791 a month in principal and interest — $1,604,816 of interest over the life of the loan. A 15-year loan at 6.09% is $10,185 a month and $633,250 in interest. Add taxes, insurance and PMI below to see the full payment.
Default rate: 6.76% on a 30-year fixed and 6.09% on a 15-year — the Freddie Mac PMMS national average as of 2026-09-10 (source). Updated automatically every Thursday. Your quote depends on credit score, points and lender.
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Result
| Year | Principal | Interest | Balance |
|---|
$1,200,000 mortgage by interest rate
| Rate | Monthly P&I | Total interest | 15-year P&I |
|---|---|---|---|
| 5% | $6,442 | $1,119,069 | $9,490 |
| 5.5% | $6,813 | $1,252,848 | $9,805 |
| 5.75% | $7,003 | $1,321,035 | $9,965 |
| 6% | $7,195 | $1,390,058 | $10,126 |
| 6.25% | $7,389 | $1,459,898 | $10,289 |
| 6.5% | $7,585 | $1,530,534 | $10,453 |
| 6.75% | $7,783 | $1,601,944 | $10,619 |
| 7% | $7,984 | $1,674,107 | $10,786 |
| 7.25% | $8,186 | $1,747,002 | $10,954 |
| 7.5% | $8,391 | $1,820,607 | $11,124 |
| 8% | $8,805 | $1,969,863 | $11,468 |
Other loan amounts
Frequently asked
What income do I need for a $1,200,000 mortgage?
Lenders usually cap housing costs at 28% of gross income. With taxes and insurance the payment is about $9,316 a month, which needs roughly $399,264 a year before other debts. Check the affordability calculator.
How much is $1,200,000 at 7%?
$7,984 a month on a 30-year term, $10,786 on 15 years.