How much is a mortgage on a $900K house?

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The mortgage payment on a $900,000 home will vary based on your down payment, loan term, and interest rate, but you can expect to pay about $5,000 to $8,000 a month.

Understanding how these factors affect your mortgage payment is crucial to creating a monthly household budget and determining how much home you can afford. Your mortgage payment on a $900K home will almost certainly be your largest monthly expense. Understanding how it comes together is important for long-term financial planning.

What’s included in a monthly mortgage payment?

When buying a home worth $900K, your mortgage payment is made up of several different costs.

A portion of your monthly payment goes toward paying down your mortgage’s principal balance and covering your loan’s interest, while another portion typically covers the property taxes and homeowners insurance that you pay each year. Depending on your down payment and equity, you might also pay for private mortgage insurance out of your monthly payment.

While these affect the size of your mortgage, so do other factors, including the amount you borrow, the type of loan you take out, and the size of your down payment.

Principal and interest

Your principal is the amount that you borrow, and interest is the cost of borrowing. With every monthly mortgage payment, a portion goes toward interest, with the rest paying down your principal.

During the first years of your mortgage, more of your payment will go toward covering interest. Over time, a greater portion of your payment will be applied to your principal.

The amount you pay in interest varies depending on the amount you borrow, your loan's interest rate, and the loan term. You'll pay less interest if your interest rate is lower and your term is shorter. You'll also pay less if you borrow less, which is why coming up with a larger down payment can save you money.

Your lender must send you a Loan Estimate within 3 business days of receiving your mortgage application. This document will estimate the terms of your loan, including the principal and interest rate, as well as your closing costs.

Property taxes

Most lenders require borrowers to use an escrow account to pay their property taxes. The escrow account is managed by your lender, which will estimate your annual tax bill and add a prorated amount to your principal and interest payment. The lender will hold the money and pay your property taxes on your behalf when they are due.

Each year, your lender will review your escrow account to make sure you aren’t paying too much or too little. If you overpay, you might receive a refund after this analysis.

You can find property tax information for a home that you are interested in buying on the residence’s MLS listing or through the local assessor's office. This will give you an idea of how much you might pay in taxes after you purchase a home.

Homeowners insurance

When you apply for a mortgage, your lender will require that you take out a homeowners insurance policy. And as with property taxes, most lenders establish an escrow account to cover this expense.

Mortgage insurance

Mortgage insurance protects the lender from losses if you default on your loan.

There are two main types of mortgage insurance: private mortgage insurance (PMI) and mortgage insurance premiums (MIP).

You pay PMI if you buy a home with a conforming conventional loan and a down payment of less than 20% of the home's value. PMI typically costs 0.2% to 2% of the loan amount each year. For a $900,000 home with 5% down, expect to pay between $1,710 and $17,100 for PMI in the first year. You can stop paying for PMI once you have 20% equity in the home.

You pay MIP if you buy a home with an FHA loan. You’ll pay 1.75% of the loan amount up front and between 0.15% and 0.75% of the loan amount each year, depending on the loan’s term and your down payment. That means you'll pay $14,962 up front and between $1,282 and $6,412 for the first year. You pay MIP either for 11 years or the full loan term, depending on your down payment.

VA and USDA loans do not charge mortgage insurance. However, VA loan¹ borrowers must pay an up-front VA funding fee, while USDA loans require borrowers to pay both up-front and annual guarantee fees.

HOA fees

If you're buying a home that's part of a homeowners association, you'll need to pay HOA fees. These fees cover expenses common to homeowners in the association. It may include maintenance of common areas, trash collection, parking, and building management. You can't opt out of membership when buying a home with an HOA, so it's important to understand in advance how your HOA works and what the fees are.

Breaking down the numbers for a $900K house

Amortization is the process of paying off a mortgage loan through regular monthly payments, with a portion of each payment covering both principal and interest. The amount you'll pay each month for a $900,000 house varies depending on your loan term, interest rate, and the size of your down payment.

If you qualify for a $900,000 home with a 5% down payment, expect to pay $7,100 a month in principal and interest with a 15-year loan and $5,404 a month with a 30-year loan.

Fifteen-year loans have a higher monthly payment than 30-year loans because of their shorter amortization schedule.

You'll pay significantly more for a mortgage on a $900,000 home if you take out a longer-term loan.

Amortization schedule for a mortgage on a $900K home

An amortization schedule illustrates how each mortgage payment is allocated between principal and interest. At the start of the loan term, most of your mortgage payment will go toward interest, and the balance will decrease slowly. By the end of the term, most of what you're paying is applied to the balance, with the final installment reducing your debt to zero.

This is a sample amortization schedule for purchasing a $900,000 home with a 5% down payment and a 15-year fixed-rate mortgage at 5.75%.^*

This is a sample amortization schedule for purchasing the same home with a 5% down payment and a 30-year fixed-rate mortgage at 6.5%.^*

You can use the Rocket Mortgage^® amortization calculator to see how the monthly mortgage payment breaks down in various scenarios.

If you want to get a better feel for how loan term, interest rate, and down payment affect your loan payment, check out the Rocket Mortgage amortization calculator. If you want to see how much faster you can pay off your loan if you refinance to one with a shorter term, check out the Rocket Mortgage payoff calculator.

Eligibility requirements for a mortgage to buy a $900K home

To qualify for any mortgage, including one to finance a $900,000 home, you'll need to meet specific financial requirements. The most important include:

• Credit score and credit history. A specific FICO credit score is no longer required for a conforming conventional loan. However, your lender still will review your credit report and history. You'll need good credit to borrow enough to buy a $900,000 home. FHA loans from Rocket Mortgage require a credit score of 580² with a 3.5% down payment, though other lenders may offer FHA loans to borrowers with a credit score of 500-579 and a 10% down payment. USDA and VA loans do not have a minimum credit score requirement, but lenders may set their own standards.
• Debt-to-income ratio. Your DTI ratio measures how much of your gross monthly income is consumed by monthly debts. It varies by loan type, but a lower DTI ratio is better.
• Employment history. Many mortgage lenders require a work history of at least two years from borrowers, especially for larger loans. Lenders may be more flexible on this if you have a good reason for a shorter work history, such as taking a break from work to attend college, or if you have a strong credit score, a high income, and a significant amount of savings.

FAQ

Questions about the mortgage payments that might come with a $900,000 home? Here are answers to some of the most common.

How much income do I need for a $900,000 home?

There are several common rules for determining the income required to purchase a home. One guideline suggests buying a home that costs no more than two or three times your annual household income. That means you should earn between $300,000 and $450,000 a year to afford a $900,000 home. There also is the 28/36 rule, which states that your housing costs should total no more than 28% of your gross monthly income, and your total debts should be no more than 36%. You can use a home affordability calculator to help you understand what you can afford.

What would my down payment be for a $900,000 home?

This depends on how much you want to put down. A down payment of 20% on a $900,000 property would be $180,000, while a down payment of 10% would be $90,000. A down payment of 5% would be $45,000. You can use the Rocket Mortgage down payment calculator to determine how much you’ll need to pay.

What credit score is required for a $900,000 home?

The credit score requirements to qualify for a $900,000 mortgage can vary from one lender to another and will depend on the type of loan you choose. Conforming conventional loans no longer require a specific credit score, though lenders will review and consider your overall credit history. FHA loans from Rocket Mortgage require a credit score of 580 with a 3.5% down payment, though other lenders may offer FHA loans to borrowers with a credit score of 500-579 and a 10% down payment.

The bottom line: Buying a $900,000 home requires about $5,000 to $8,000 a month

The amount you pay each month for a $900,000 home depends on several factors, including the size of your down payment, your loan's interest rate, and the term of your mortgage. However, expect your monthly payment to be between $5,000 and $8,000.

If you want to reduce your monthly mortgage payment on a $900,000 home? Build a better credit score so that you qualify for a lower interest rate, take out a longer-term loan, or come up with a larger down payment.

If you’re ready to start hunting for your new home, apply for a mortgage preapproval with us. Rocket Mortgage can guide you through the home-lending process.

^*Rates offered by Rocket Mortgage as of Dec. 15, 2025.

¹ Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

² To qualify for this offer, you must meet all standard FHA eligibility requirements. In addition, your total mortgage payment, including taxes and insurance, cannot exceed 38% of your income, your debt-to-income (DTI) ratio cannot exceed 45%, and you must have 12 months of verifiable housing history immediately prior to your application, no late payments 30 days or greater in the last 12-months, and no derogatory marks on your credit report. Not available on jumbo loans. Asset statements may be needed, no more than 1 day of non-sufficient fund fees are allowed in the most recent 2 months prior to application. Additional restrictions/conditions may apply.