Mortgage Calculator: What It Takes To Buy a $430K Home at a 6.67% Rate

Mortgage rates eased off their one-year highs this week, as markets continue to await signs of a resolution to the Iran war and normalization of global oil prices.

The average rate on 30-year fixed home loans dipped to 6.67% for the week ending Aug. 13, down 2 basis points from 6.69% the previous week, according to Freddie Mac.

However, rates still remain above their year-ago level after crossing that key threshold last week for the first time in 2026, when rates averaged 6.58% during the same period in 2025.

So what does this mean for homebuyers? Using the Realtor.com® mortgage calculator, we can look at how the math works out for the median-priced home in the U.S.

All examples assume a 30-year fixed mortgage and include principal and interest only, excluding property taxes, homeowners insurance, and mortgage insurance.

Monthly mortgage payment today with a 20% down payment

For a homebuyer eyeing the median house price of $430,000, a 20% down payment results in a loan amount of $344,000.

At today’s 6.67% rate, the monthly principal and interest payment is approximately $2,213. This reflects a $4 monthly reduction from the previous week’s payment of $2,217.

However, compared to the 6.58% average from August 2025, which required a $2,192 monthly payment for a home at this price, today’s buyers are paying $21 more every single month.

Monthly mortgage payment today with a 3.5% down payment

The monthly costs have also increased slightly for those using FHA loans with a 3.5% down payment.

On a $430,000 home, an FHA borrower would finance roughly $414,950. At today’s 6.67% rate, the monthly principal and interest payment comes to approximately $2,669.

This reflects a $6 decrease from last week’s monthly cost of $2,675. Compared to the 6.58% rates of August 2025, where the monthly payment for this loan amount sat at $2,645, today’s FHA borrowers are paying an extra $24 in interest every month.

However, looking back at the October 2023 peak of 7.79%, where the payment for a home at this price reached $2,984, today’s monthly payment still offers $315 in relief.

Long-term savings over 30 years

The long-term financial picture highlights how these borrowing costs accumulate over time.

A buyer with a 20% down payment at today’s 6.67% rate will pay a total of $796,649 in principal and interest over the life of the mortgage. While current rates remain above year-ago levels, this sum still represents a distinct contrast to the October 2023 peak of 7.79%, when the total cost for that same $344,000 loan would have reached $890,630.

By securing a mortgage at today’s rate instead of that peak, a homebuyer effectively avoids $93,981 in interest charges over the 30-year term.

FHA borrowers see a similar trajectory of long-term figures. Financing the current median-priced home at today’s 6.67% rate results in a lifetime payment of $960,958 for principal and interest.

If that same loan had been locked in at the 7.79% peak in late 2023, the total cost would have climbed to $1,074,323. This represents a total long-term savings of $113,365 for FHA buyers.

While remaining above 2025 baselines keeps upward pressure on budgets, this week’s slight rate dip provides a modest reprieve for buyers navigating the late-summer market.