Mortgage Analysis
Monthly Payment on a $400,000 Home
With a 20% down payment ($80,000) at a 6.47% interest rate, a $400,000 home has a monthly principal and interest payment of $2,016 on a 30-year mortgage, or $2,661 on a 15-year mortgage.
Latest rate: 6.47% (30-yr) / 5.77% (15-yr) from Freddie Mac via FRED for week of 2026-06-18 | Principal and interest only — excludes taxes, insurance, and private mortgage insurance | Use the live calculator to enter your exact rate
Monthly (30-yr)
$2,016
20% down | 6.47% rate
Monthly (15-yr)
$2,661
20% down | 5.77% rate
Total Interest (30-yr)
$405,871
over life of loan
Breakdown by Down Payment
Monthly principal and interest only at 6.47% (30-yr) and 5.77% (15-yr) | Freddie Mac data via FRED for week of 2026-06-18
| Down Payment | Down Amount | Loan Amount | 30-yr Payment | 15-yr Payment |
|---|---|---|---|---|
| 3% | $12,000 | $388,000 | $2,445 | $3,226 |
| 5% | $20,000 | $380,000 | $2,394 | $3,160 |
| 10% | $40,000 | $360,000 | $2,268 | $2,993 |
| 20% | $80,000 | $320,000 | $2,016 | $2,661 |
The Inflation Connection
Mortgage rates are closely tied to inflation. When inflation runs high, the Federal Reserve raises interest rates to cool the economy — which pushes mortgage rates up and increases your monthly payment. A 1-point rate increase on a $320,000 loan adds approximately $215 to your monthly payment. Tracking inflation helps you understand where mortgage rates may be headed.
Get a Live Rate Estimate
The figures above use the latest weekly rate from Freddie Mac (6.47% as of 2026-06-18). Use the full calculator to enter your exact home price, down payment, and loan term — with the rate pre-filled from the Federal Reserve each week.
Open Live Calculator →Other Home Prices
Data Source
Mortgage rate uses the 30-year fixed-rate average published weekly by Freddie Mac via the Federal Reserve Bank of St. Louis (FRED series MORTGAGE30US), last updated week of 2026-06-18. The 15-year rate is estimated at approximately 0.7 percentage points below the 30-year rate, consistent with the typical spread. Figures are principal and interest only — property taxes, homeowners insurance, and private mortgage insurance are excluded. fred.stlouisfed.org | Money & Prices