What Is an Average Monthly Mortgage Payment?

Answer An average monthly mortgage payment comprises the principal payment on the loan (the money borrowed) plus the interest (the cost of borrowing). According to estimates by the U.S. Census Bureau, the... Read More »

Top Q&A For: What Is an Average Monthly Mortgage Payment

How much is an average monthly mortgage payment?

In 2009 the average monthly mortgage rate for a 30-year fixed loan was about $1,500. For a 15-year fixed loan, the monthly rate was around $2,000. These payments reflect a home that runs in the $20... Read More »

What is the correct percentage of income for a monthly mortgage payment?

Banks generally do not want more than 28 percent of a borrower's monthly income allotted toward his mortgage payment. This amount may be smaller if the addition of a mortgage payment would make you... Read More »

How do I lower my monthly mortgage payment?

If your mortgage payments have become a financial burden because you've lost your job or suffered a reduction in your annual income, you're far from alone. According to data from, 2.... Read More »

How do I calculate for a monthly mortgage payment?

Interest-only LoanDetermining the type of loan is critical in calculating the payment. Calculating Interest-only loans (loans that do not require payment of principle) requires simple math. Take th... Read More »