$230,000 House Monthly Payment
A $230,000 home with 20% down ($46,000) at 6.85% has an all-in monthly payment of about $1,483.59 — roughly $1,205.68 principal and interest plus property tax and homeowners insurance. No PMI is required at 20% down.
Payment breakdown
- Principal & interest$1,205.68
- Property tax$210.83
- Home insurance$67.08
Balance over time
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $1,924 | $12,544 | $182,076 |
| 2 | $2,060 | $12,408 | $180,016 |
| 3 | $2,205 | $12,263 | $177,811 |
| 4 | $2,361 | $12,107 | $175,450 |
| 5 | $2,528 | $11,940 | $172,921 |
| 6 | $2,707 | $11,761 | $170,214 |
| 7 | $2,898 | $11,570 | $167,316 |
| 8 | $3,103 | $11,365 | $164,213 |
| 9 | $3,323 | $11,146 | $160,890 |
| 10 | $3,558 | $10,911 | $157,333 |
| 11 | $3,809 | $10,659 | $153,524 |
| 12 | $4,078 | $10,390 | $149,445 |
| 13 | $4,367 | $10,102 | $145,079 |
| 14 | $4,675 | $9,793 | $140,404 |
| 15 | $5,006 | $9,462 | $135,398 |
| 16 | $5,360 | $9,109 | $130,038 |
| 17 | $5,738 | $8,730 | $124,300 |
| 18 | $6,144 | $8,324 | $118,156 |
| 19 | $6,578 | $7,890 | $111,577 |
| 20 | $7,044 | $7,425 | $104,534 |
| 21 | $7,541 | $6,927 | $96,992 |
| 22 | $8,075 | $6,394 | $88,918 |
| 23 | $8,645 | $5,823 | $80,272 |
| 24 | $9,257 | $5,212 | $71,016 |
| 25 | $9,911 | $4,557 | $61,105 |
| 26 | $10,612 | $3,857 | $50,493 |
| 27 | $11,362 | $3,106 | $39,131 |
| 28 | $12,165 | $2,303 | $26,967 |
| 29 | $13,025 | $1,443 | $13,942 |
| 30 | $13,942 | $523 | $0 |
Frequently asked questions
What's the monthly payment on a $230,000 house?
With 20% down at 6.85%, expect about $1,483.59 per month including principal, interest, estimated property tax, and insurance.
How much do I need to put down on a $230,000 home?
A 20% down payment is $46,000, which avoids PMI. You can buy with as little as 3–5% down, but you'll add monthly PMI and a larger loan balance.
What income do I need to afford a $230,000 house?
As a rough guide, lenders like your housing payment near 28% of gross income — so about $63,582 per year, depending on your other debts and down payment.
Sources: Freddie Mac Primary Mortgage Market Survey; Tax Foundation — Property Taxes by State; Consumer Financial Protection Bureau.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.