What is the Average Monthly Mortgage Payment?

There is no good answer to the question what is the average monthly mortgage payment. Mortgage payments will vary according to the amount of money borrowed, type of loan, interest rate and property taxes and insurance. For example if you have a $100,000 mortgage with an interest rate of 6% for 30 years your payment (excluding taxes and insurance) will be just under $600. However if you have a 1,000,000 home with the same terms your payment jumps to just under $6,000!