$300,000 mortgage payment

Monthly payment on $300,000 at 6.5% for 30 years
$1,896.20
Principal and interest. 15-year term: $2,613.32 a month

With property tax and insurance (about $500 a month on a $375,000 home with 20% down), expect roughly $2,396 a month in total. To keep housing under 28% of income, that needs a household income of about $102,694 a year.

$300,000 mortgage payment by interest rate

Rate30 years20 years15 years
5%$1,610$1,980$2,372
5.5%$1,703$2,064$2,451
6%$1,799$2,149$2,532
6.5%$1,896$2,237$2,613
7%$1,996$2,326$2,696
7.5%$2,098$2,417$2,781
8%$2,201$2,509$2,867

Monthly principal and interest only.

Total interest on a $300,000 mortgage

Rate30 years15 years
5%$279,767$127,029
5.5%$313,212$141,225
6%$347,515$155,683
6.5%$382,633$170,398
7%$418,527$185,367
7.5%$455,152$200,587
8%$492,466$216,052

Calculate your full payment

Adjust the rate, down payment, taxes, insurance and PMI for your situation:

Frequently asked questions

What is the monthly payment on a $300,000 mortgage?

At 6.5% for 30 years, a $300,000 mortgage costs $1,896.20 a month in principal and interest. On a 15-year term at the same rate it's $2,613.32. Property tax, insurance and any PMI are extra.

How much income do I need for a $300,000 mortgage?

Using the common 28% rule and allowing about $500 a month for property tax and insurance, you'd need a household income of roughly $102,694 a year at 6.5% for 30 years.

How much interest will I pay on a $300,000 mortgage?

Over 30 years at 6.5%, total interest is about $382,633. A 15-year loan at the same rate costs about $170,398, much less, but with higher monthly payments.

Other loan amounts

$200,000 mortgage$225,000 mortgage$250,000 mortgage$275,000 mortgage$325,000 mortgage$350,000 mortgage$375,000 mortgage$400,000 mortgage

All loan amounts → · How much house can I afford? →

Estimates for general information only, not financial advice. See how we calculate.