What is the average mortgage payment and how to lower yours

Americans are putting more toward their mortgage payments , new data shows. The average mortgage payment was $2,005 in the third quarter of 2025, the latest period for which data is available, according to Realtor.com research published in April . That's the first time the mean has crossed the $2,000 threshold and it's 44% higher than four years earlier. This rapid rise in mortgage payments is due to an increase in home prices over the years and a prolonged period of elevated rates. For example, 22% of outstanding mortgage holders have a loan with a rate above 6% — the highest percentage in a decade, according to Realtor.com's analysis of the Federal Housing Finance Agency. But with careful preparation — including bolstering your credit score, making a larger down payment and choosing an affordable lender — there are ways to reduce the amount you spend. Talk to us Are you living paycheck to paycheck, or do you have a financial success you're comfortable sharing with a reporter? Please fill out this quick form . Choose a lender with low rates Here are three of our top lenders that consistently offer below-average rates to customers. Each has a stellar customer service record and is widely available. If you're a veteran or servicemember, go with Navy Federal Credit Union Navy Federal Credit Union boasts some of the lowest VA loan rates on the market. Plus, it offers options other than VA loans exclusively for veterans, service members and their families. …