Monthly payment on a $1,000,000 house
$1,000,000 house · 20% down · 6.5%. Estimated total payment $6,290/month, including property tax and insurance. Change any input below.
Estimated monthly payment
$6,290
$200,000 down · $800,000 loan
What goes into the $6,290 payment
A million-dollar home requires $200,000 down and an $800,000 loan — likely a jumbo mortgage above the conforming limit, which can carry a slightly different rate. Principal and interest alone are above $5,000 a month at 6.5%.
This estimate assumes property tax of 1.1% of the price per year ($11,000), homeowners insurance of $3,800 per year, and no PMI, because the down payment is 20% or more. Actual property tax and insurance vary widely by state and property — swap in your real figures above.
Disclaimer: this is an educational estimate, not a loan offer or financial advice. Lenders calculate escrow, PMI and closing costs their own way; confirm every figure with your loan officer.
Payment breakdown
Frequently asked questions
What is the monthly payment on a $1,000,000 house?
With 20% down ($200,000) on a 30-year loan at 6.5%, the estimated payment is about $6,290 per month: $5,057 principal and interest, $917 property tax, $317 insurance.
How much is the down payment on a $1,000,000 house at 20%?
20% of $1,000,000 is $200,000, which leaves a loan of $800,000. A 20% down payment avoids private mortgage insurance.
How much total interest is paid on a $1,000,000 mortgage?
Over the full 30 years, this loan of $800,000 at 6.5% pays about $1,020,356 in interest — money on top of repaying the amount borrowed. Extra principal payments reduce it.