These estimates use a national-average property tax rate (1.1% of price) and a typical starting interest rate, adjusted for the loan type and down payment shown. Your actual numbers depend on your credit, your state and municipality's real tax rate, and your specific lender's rate that day — use these as a realistic starting point, then get your own exact numbers in the calculator below.
Estimated payment by down payment
What's included in these numbers
| 20% down | 10% down | 5% down | 3.5% down (FHA) | |
|---|---|---|---|---|
| Loan amount | $160,000 | $180,000 | $190,000 | $193,000 |
| Interest rate (estimated) | 6.625% | 6.75% | 6.875% | 6.625% |
| Principal & interest | $1,024 | $1,167 | $1,248 | $1,236 |
| Property tax (est.) | $183 | $183 | $183 | $183 |
| Insurance (est.) | $58 | $58 | $58 | $58 |
| PMI / MIP | $0 | $98 | $119 | $88 |
How the rate changes with your down payment
Notice the rate ticks up slightly as the down payment shrinks below 20% and 10% — this reflects typical lender pricing, where a smaller down payment (higher loan-to-value) carries slightly more risk. It's a small effect on the rate itself, but combined with a larger loan amount and PMI, it adds up to a real difference in the monthly payment.
Frequently asked questions
Is $200,000 the loan amount or the home price?
These figures use $200,000 as the home's purchase price — the loan amount is the price minus your down payment.
Why does 5% down cost more per month than 3.5% down FHA?
Because FHA and Conventional mortgage insurance are priced differently. In this comparison, FHA's MIP happens to be a bit cheaper than Conventional PMI at 5% down for this credit tier — but that isn't always true, which is exactly why it's worth comparing both for your specific numbers.