$1,000,000 Mortgage Calculator
Monthly payment, total interest, and amortization at multiple rates — 2025.
$1,000,000 Mortgage — Monthly Payment by Rate
| APR | 30-yr Monthly | 30-yr Total Interest | 15-yr Monthly | 15-yr Total Interest |
|---|---|---|---|---|
| 6.5% | $6,320.68 | $1,275,445 | $8,711.07 | $567,993 |
| 7% | $6,653.02 | $1,395,089 | $8,988.28 | $617,891 |
| 7.5% | $6,992.15 | $1,517,172 | $9,270.12 | $668,622 |
Full Loan Calculator
Monthly Payment
$6,653.02
Total interest: $1,395,089
$2,395,089 total over 30 years
Principal vs Interest
Loan Amount | $1,000,000 |
APR | 7.0% |
Term | 30 years (360 months) |
Monthly Payment | $6,653.02 |
Total Principal | $1,000,000 |
Total Interest 58.25% of total | $1,395,089 |
Total Cost | $2,395,089 |
Frequently Asked Questions
What is the monthly payment on a $1,000,000 mortgage?
At 7% APR over 30 years, a $1,000,000 mortgage costs $6,653.02/month. At 6.5%, it's $6,320.68/month. These figures are principal + interest only; property taxes, insurance, and PMI are not included.
How much interest will I pay on a $1,000,000 mortgage?
Over 30 years at 7% APR, you'd pay $1,395,089 in total interest on a $1,000,000 loan — nearly 140% of the original loan. A 15-year term at the same rate costs $617,891 in interest.
Should I choose a 15-year or 30-year mortgage?
A 15-year mortgage saves significant interest but requires higher monthly payments. On a $1,000,000 loan at 7%, the 15-year payment is $8,988.28/month vs. $6,653.02/month for 30 years — but total interest savings are $777,198.