How much is a mortgage on an $800K house?

How much will you pay each month for a mortgage on an $800K house? In general, you can expect to pay from $5,000 to more than $6,500 a month, depending on the size of your down payment, your mortgage rate, and the length of your loan.

Understanding how these factors affect your mortgage payment is key to determining how much house you can afford and whether you can afford the mortgage on an $800K house.

What’s included in a monthly mortgage payment

The typical monthly mortgage payment has four components: principal, interest, taxes, and insurance – commonly referred to as PITI.

Principal and interest

Your principal is the amount that you borrow to buy a home. Mortgage interest is the fee you pay the lender to borrow the principal.

Your loan term affects what you'll pay. A longer term (like 30 years) means lower monthly payments but more interest over the life of the loan. A shorter term (like 15 years) means higher monthly payments but significantly less interest overall.

Here's how mortgage payments work: Your loan is amortized, meaning each payment is calculated to pay off the loan completely within a set timeframe. The lender uses your loan amount, interest rate, and loan term to determine your monthly payment.

Each payment covers two things. First, it pays the interest that's built up since your last payment. The rest goes toward reducing your loan balance. In the early years, most of your payment covers interest, so your balance drops slowly. As you near the end of your loan term, that flips – most of your payment chips away at the principal until the loan is paid off.

Taxes and insurance

Most homeowners use an escrow account to pay property taxes and homeowners insurance. Many lenders require it.

Here's how escrow works: Your lender estimates your annual property tax and insurance costs, then adds a monthly portion to your mortgage payment. The lender holds these funds in your escrow account and pays your tax and insurance bills when they're due. This system ensures these major expenses get paid on time every time.

Each year, your lender reviews the account and adjusts your monthly escrow amount if needed. If you've paid in more than necessary, you'll get a refund. If there's a shortfall, you'll need to make up the difference either with a one-time payment or by paying extra monthly over the next year.

Mortgage insurance

Beyond homeowners insurance, you might need to pay for mortgage insurance. The most common type is private mortgage insurance (PMI), which lenders require on conventional loans when you put down less than 20%.

PMI isn't permanent. Your lender must automatically cancel it when your loan balance drops to 78% of your home's original value. You can also request cancellation when you reach 80% or eliminate PMI by refinancing.

FHA loans charge mortgage insurance premiums (MIP), either for 11 years or the life of your loan, depending on your down payment. VA loans and USDA loans do not charge mortgage insurance, but do charge other fees that work in a similar fashion, such as the VA funding fee and USDA guarantee fees. Rocket Mortgage currently does not offer USDA loans.

Breaking down the numbers for an $800K house

The monthly payment for an $800,000 home varies depending on your loan term, interest rate, and down payment size.

As the table below shows, results from the Rocket Mortgage mortgage calculator show your monthly payment on an $800,000 home could run from about $4,100 to more than $6,600, not including property taxes and insurance.¹ Rates shown are examples; actual rates vary based on your credit, lender, and market conditions.

Amortization schedule for an $800K mortgage

Here's an example of how amortization works for buying an $800,000 home with 10% down using a conventional loan with 6.5% interest. With this loan, you'd pay $918,320 in total interest over 30 years.

Check out our amortization calculator to see how your loan term, interest rate, and down payment affect your monthly payment and total mortgage cost.

Want to see how much faster you can pay off your loan if you refinance to one with a shorter term? Check out our mortgage payoff calculator.

Eligibility requirements for a mortgage for an $800K home

Want to increase your odds of qualifying for a mortgage on an $800,000 home? Focus on your credit, debt-to-income ratio (DTI), and employment history.

• Credit: Conventional loans require no specific credit score. If you need a jumbo loan to buy an $800,000 home, the credit score you need will be up to your lender. If your credit score needs a boost, pay your bills on time each month and reduce your debt load as much as you can.
• DTI: Your DTI measures how much of your gross monthly income is committed to paying debts. Many lenders prefer a DTI of no more than 36%, though the specific number varies by loan type and your overall financial situation.
• Employment history: Many lenders require borrowers to have at least 2 years of work history, especially when applying for a larger loan. You can compensate for gaps in your work history if you have strong credit, a high income, or significant savings.

FAQ

Here are answers to common questions about buying an $800,000 home.

What is the income needed for an $800,000 mortgage?

There is no specific amount required, but there are a few industry guidelines. The 28/36 rule states that no more than 28% of your gross monthly income should go toward your housing expenses, and no more than 36% of your income should go toward all your debts. Another rule is you can afford a home that costs about 2½ to 3 times your annual income. To help determine if you can afford a mortgage of $800,000, try the home affordability calculator from Rocket Mortgage.

What would my down payment be for an $800,000 home?

The minimum down payment you need depends on the type of loan you're using. A fixed-rate conforming conventional loan requires 3% down,² but you'll need to pay for PMI if you put down less than 20%. You can use the Rocket Mortgage down payment calculator to experiment with varying amounts.

The bottom line: An $800K house could cost over $5K a month

The payment on an $800,000 home depends on your mortgage rate, loan term, and down payment, but don't be surprised if it works out to more than $5,000. You'll also need to be prepared to pay property tax, homeowners insurance, and PMI, if required.

If you're ready to explore your borrowing options, apply today for a home loan with Rocket Mortgage.

¹ The Rocket Mortgage mortgage calculator is for estimation purposes only. Results do not reflect all loan programs and are subject to individual program loan limits. Qualification, rates and payments will vary based on timing and individual circumstances. This is not a commitment to lend.

Here’s a payment example based on an average home price and the most common loan type:

• Loan amount: $350,000
• Loan type: 30-Year Fixed
• Interest rate: 6.50% (6.79% APR)
• Monthly payment: $2,212.24
• Points: 2 points, costs due at closing $7,000.00
• Loan-to-value (LTV): 80.00%

One point is equal to one percent of your loan amount. Payment does not include taxes and insurance. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. Rates shown are valid on publication date of January 21, 2026.

If you didn’t enter taxes and insurance amounts, an estimate of your taxes is based on the state selected. This does not include all fees.

² The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.

Rocket Mortgage is a trademark of Rocket Mortgage, LLC or its affiliates.