$200,000 Mortgage Calculator — Monthly Payment & Affordability
A $200,000 home is an achievable first purchase. See exactly what you'll pay monthly and what income you'll need to qualify.
Mortgage Calculator
How It Works
20% down ($40k) puts you at a $160,000 loan. At 6.75% for 30 years your P+I is roughly $1,037/month.
Add taxes (~$200/mo) and insurance (~$75/mo) for a PITI around $1,312/month.
Lenders typically want PITI under 28% of income, so ~$55k–65k annual income is usually enough.
Going FHA with 3.5% down ($7k) means a larger loan (~$193k) plus PMI, pushing monthly payments up ~$150–200.
Frequently Asked Questions
Can I afford a $200k house on $60k salary?
Yes — with minimal other debt and 20% down, a $60k income usually qualifies. With FHA 3.5% down it gets tighter but still possible.
How much down payment on a $200k house?
20% is $40k (ideal, avoids PMI). FHA 3.5% is just $7k, conventional 3% is $6k, and VA loans can be $0 for veterans.
Monthly payment on a $200k house?
With 20% down, 30-year term at 6.75%, expect approximately $1,300–1,350/month PITI including taxes and insurance.