What is the monthly payment on a $900,000 mortgage at 7% for 15 years?
Answer
$8,089/month
Principal & interest onlyTotal interest over 15 years: $556,102Total cost: $1,456,102
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$900,000, r=7%/12=0.5833n=180. M = $8,089
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Calculated using verified formulas. Last updated March 2026.