$250,000 mortgage payment
Monthly principal & interest on a $250,000 loan at rates from 5% to 7.5%. Taxes, insurance, and PMI add to these figures — use the calculator below to include them.
| Interest rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $1,976.99 | $1,342.06 |
| 5.50% | $2,042.71 | $1,419.48 |
| 6.00% | $2,109.65 | $1,498.88 |
| 6.50%Current | $2,177.77 | $1,580.18 |
| 7.00% | $2,247.08 | $1,663.26 |
| 7.50% | $2,317.54 | $1,748.04 |
Customize this loan
Balance over time
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | $2,794 | $16,168 | $247,206 |
| Year 2 | $2,982 | $15,981 | $244,224 |
| Year 3 | $3,181 | $15,781 | $241,043 |
| Year 4 | $3,394 | $15,568 | $237,648 |
| Year 5 | $3,622 | $15,341 | $234,027 |
| Year 6 | $3,864 | $15,098 | $230,163 |
| Year 7 | $4,123 | $14,839 | $226,040 |
| Year 8 | $4,399 | $14,563 | $221,640 |
| Year 9 | $4,694 | $14,268 | $216,947 |
| Year 10 | $5,008 | $13,954 | $211,939 |
| Year 11 | $5,343 | $13,619 | $206,595 |
| Year 12 | $5,701 | $13,261 | $200,894 |
| Year 13 | $6,083 | $12,879 | $194,811 |
| Year 14 | $6,491 | $12,472 | $188,320 |
| Year 15 | $6,925 | $12,037 | $181,395 |
| Year 16 | $7,389 | $11,573 | $174,006 |
| Year 17 | $7,884 | $11,078 | $166,122 |
| Year 18 | $8,412 | $10,550 | $157,710 |
| Year 19 | $8,975 | $9,987 | $148,735 |
| Year 20 | $9,576 | $9,386 | $139,158 |
| Year 21 | $10,218 | $8,744 | $128,941 |
| Year 22 | $10,902 | $8,060 | $118,039 |
| Year 23 | $11,632 | $7,330 | $106,407 |
| Year 24 | $12,411 | $6,551 | $93,995 |
| Year 25 | $13,242 | $5,720 | $80,753 |
| Year 26 | $14,129 | $4,833 | $66,624 |
| Year 27 | $15,075 | $3,887 | $51,548 |
| Year 28 | $16,085 | $2,877 | $35,463 |
| Year 29 | $17,162 | $1,800 | $18,301 |
| Year 30 | $18,301 | $650 | $0 |
How this is calculated
Principal & interest use the standard fixed-rate formula: M = P × r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate (6.50% ÷ 12), and n the number of payments. Taxes, insurance, and HOA are divided into monthly amounts and added on top. PMI is estimated at 0.6% of the loan per year and removed once your balance falls to 80% of the home price, matching how conventional lenders handle it. All math runs in your browser to the exact cent.
Frequently asked questions
What is the monthly payment on a $250,000 mortgage?
At 6.5% interest, a $250,000 loan costs about $1,580.18 per month on a 30-year term, or $2,177.77 per month on a 15-year term — principal and interest only, before taxes and insurance.
How much interest will I pay on a $250,000 mortgage?
Over a full 30-year term at 6.5%, total interest comes to about $318,854. On a 15-year term at the same rate, total interest drops to about $141,998 — the shorter term nearly always saves six figures on loans this size.
What income do I need for a $250,000 mortgage?
Using the common 28% housing-cost guideline, the $1,580.18 P&I payment (plus roughly a quarter more for taxes and insurance) suggests a gross income of about $84,653 per year. Lenders also weigh your other debts, credit score, and down payment.