If you're planning to borrow $800,000 to buy a home, you should know what the payments on your mortgage could be at today's rates. Mortgage rates were sitting at nearly 7% at the start of the year, but despite some brief upticks, rates have gradually declined overall. So, what can you expect to pay each month if you take out an $800,000 mortgage loan at today's rates? What are the monthly payments on an $800,000 mortgage now that rates have dropped? Your monthly mortgage payment will likely be higher after the other costs, like property taxes and insurance, are added in.