$300,000 mortgage payment
Monthly principal & interest on a $300,000 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% | $2,372.39 | $1,610.47 |
| 5.50% | $2,451.26 | $1,703.37 |
| 6.00% | $2,531.58 | $1,798.66 |
| 6.50%Current | $2,613.33 | $1,896.21 |
| 7.00% | $2,696.49 | $1,995.91 |
| 7.50% | $2,781.04 | $2,097.65 |
Customize this loan
Balance over time
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | $3,353 | $19,401 | $296,647 |
| Year 2 | $3,578 | $19,177 | $293,069 |
| Year 3 | $3,817 | $18,937 | $289,251 |
| Year 4 | $4,073 | $18,681 | $285,178 |
| Year 5 | $4,346 | $18,409 | $280,833 |
| Year 6 | $4,637 | $18,118 | $276,196 |
| Year 7 | $4,947 | $17,807 | $271,248 |
| Year 8 | $5,279 | $17,476 | $265,969 |
| Year 9 | $5,632 | $17,122 | $260,337 |
| Year 10 | $6,010 | $16,745 | $254,327 |
| Year 11 | $6,412 | $16,342 | $247,915 |
| Year 12 | $6,841 | $15,913 | $241,074 |
| Year 13 | $7,300 | $15,455 | $233,774 |
| Year 14 | $7,789 | $14,966 | $225,986 |
| Year 15 | $8,310 | $14,444 | $217,676 |
| Year 16 | $8,867 | $13,888 | $208,809 |
| Year 17 | $9,460 | $13,294 | $199,348 |
| Year 18 | $10,094 | $12,660 | $189,254 |
| Year 19 | $10,770 | $11,984 | $178,484 |
| Year 20 | $11,491 | $11,263 | $166,993 |
| Year 21 | $12,261 | $10,494 | $154,732 |
| Year 22 | $13,082 | $9,672 | $141,650 |
| Year 23 | $13,958 | $8,796 | $127,692 |
| Year 24 | $14,893 | $7,861 | $112,798 |
| Year 25 | $15,891 | $6,864 | $96,908 |
| Year 26 | $16,955 | $5,800 | $79,953 |
| Year 27 | $18,090 | $4,664 | $61,863 |
| Year 28 | $19,302 | $3,453 | $42,561 |
| Year 29 | $20,594 | $2,160 | $21,967 |
| Year 30 | $21,967 | $781 | $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 $300,000 mortgage?
At 6.5% interest, a $300,000 loan costs about $1,896.21 per month on a 30-year term, or $2,613.33 per month on a 15-year term — principal and interest only, before taxes and insurance.
How much interest will I pay on a $300,000 mortgage?
Over a full 30-year term at 6.5%, total interest comes to about $382,629. On a 15-year term at the same rate, total interest drops to about $170,397 — the shorter term nearly always saves six figures on loans this size.
What income do I need for a $300,000 mortgage?
Using the common 28% housing-cost guideline, the $1,896.21 P&I payment (plus roughly a quarter more for taxes and insurance) suggests a gross income of about $101,583 per year. Lenders also weigh your other debts, credit score, and down payment.