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

At the current 30-year fixed average of 7.32 percent, a $300,000 mortgage costs about $2,061 a month in principal and interest. Over a 15-year term at 6.68 percent the payment rises to roughly $2,643. Property taxes, homeowner insurance and any PMI or HOA dues are added on top of these figures.

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

A 30-year $300,000 mortgage at 7.32 percent costs about $441,885 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.68 percent cuts that to roughly $175,758, a saving of about $266,127, in exchange for a higher monthly payment.

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

Lenders commonly want your total housing payment to stay under 28 percent of gross monthly income. On that rule the $2,061 payment for a $300,000 mortgage implies an income of roughly $88,320 a year before tax — and more once you add property taxes and insurance, which the 28 percent test also counts.

What house price does a $300,000 mortgage buy?

It depends on your down payment. Borrowing $300,000 with 20 percent down corresponds to a purchase price of about $375,000, while 10 percent down puts the price near $333,333. A down payment below 20 percent on a conventional loan also adds PMI until you reach 20 percent equity.

How much does the interest rate change a $300,000 payment?

A great deal. On a 30-year term each quarter-point of rate moves the payment on a $300,000 mortgage by roughly $51 a month. The table on this page prices the loan from 5.00 percent to 8.00 percent so you can see the full range before you lock a rate.

$300,000 Mortgage Payment — Monthly Cost

$2,061

Monthly payment

$741,885

Total of 360 payments

Oct, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $441,885

20262056

$300,000 mortgage payment by rate and term

Monthly principal and interest. The highlighted row is this week’s Freddie Mac average for a 30-year fixed loan.

Interest rate	30-year	15-year
5.00%	$1,610	$2,372
5.25%	$1,657	$2,412
5.50%	$1,703	$2,451
5.75%	$1,751	$2,491
6.00%	$1,799	$2,532
6.25%	$1,847	$2,572
6.50%	$1,896	$2,613
6.75%	$1,946	$2,655
7.00%	$1,996	$2,696
7.25%	$2,047	$2,739
7.50%	$2,098	$2,781
7.75%	$2,149	$2,824
8.00%	$2,201	$2,867

What a $300,000 mortgage really costs

Total interest, 30 years at 7.32%: $441,885
Total interest, 15 years at 6.68%: $175,758
Income implied by the 28% rule: $88,320
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $266,127 in interest, at the cost of a higher monthly payment ($2,643 instead of $2,061). With 10% down this loan corresponds to a home priced near $333,333, and a conventional loan under 20% down adds PMI until you reach 20% equity.

These figures are principal and interest only. Property taxes, homeowner insurance, PMI and any HOA dues sit on top and vary by location — add yours in the full mortgage calculator, or check current rates in your state.

Amortization schedule

Date	Principal	Interest	Balance
Nov, 2026	$231	$1,830	$299,769
Dec, 2026	$232	$1,829	$299,537
2026	$463	$3,659	$299,537
Jan, 2027	$234	$1,827	$299,303
Feb, 2027	$235	$1,826	$299,068
Mar, 2027	$236	$1,824	$298,832
Apr, 2027	$238	$1,823	$298,594
May, 2027	$239	$1,821	$298,355
Jun, 2027	$241	$1,820	$298,114
Jul, 2027	$242	$1,818	$297,871
Aug, 2027	$244	$1,817	$297,628
Sep, 2027	$245	$1,816	$297,382
Oct, 2027	$247	$1,814	$297,136
Nov, 2027	$248	$1,813	$296,887
Dec, 2027	$250	$1,811	$296,638
2027	$2,899	$21,830	$296,638
Jan, 2028	$251	$1,809	$296,386
Feb, 2028	$253	$1,808	$296,133
Mar, 2028	$254	$1,806	$295,879
Apr, 2028	$256	$1,805	$295,623
May, 2028	$257	$1,803	$295,366
Jun, 2028	$259	$1,802	$295,107
Jul, 2028	$261	$1,800	$294,846
Aug, 2028	$262	$1,799	$294,584
Sep, 2028	$264	$1,797	$294,320
Oct, 2028	$265	$1,795	$294,054
Nov, 2028	$267	$1,794	$293,787
Dec, 2028	$269	$1,792	$293,519
2028	$3,119	$21,611	$293,519
Jan, 2029	$270	$1,790	$293,248
Feb, 2029	$272	$1,789	$292,976
Mar, 2029	$274	$1,787	$292,703
Apr, 2029	$275	$1,785	$292,427
May, 2029	$277	$1,784	$292,151
Jun, 2029	$279	$1,782	$291,872
Jul, 2029	$280	$1,780	$291,591
Aug, 2029	$282	$1,779	$291,309
Sep, 2029	$284	$1,777	$291,026
Oct, 2029	$286	$1,775	$290,740
Nov, 2029	$287	$1,774	$290,453
Dec, 2029	$289	$1,772	$290,164
2029	$3,355	$21,374	$290,164
Jan, 2030	$291	$1,770	$289,873
Feb, 2030	$293	$1,768	$289,580
Mar, 2030	$294	$1,766	$289,286
Apr, 2030	$296	$1,765	$288,990
May, 2030	$298	$1,763	$288,692
Jun, 2030	$300	$1,761	$288,392
Jul, 2030	$302	$1,759	$288,091
Aug, 2030	$303	$1,757	$287,787
Sep, 2030	$305	$1,756	$287,482
Oct, 2030	$307	$1,754	$287,175
Nov, 2030	$309	$1,752	$286,866
Dec, 2030	$311	$1,750	$286,555
2030	$3,609	$21,120	$286,555
Jan, 2031	$313	$1,748	$286,242
Feb, 2031	$315	$1,746	$285,927
Mar, 2031	$317	$1,744	$285,611
Apr, 2031	$319	$1,742	$285,292
May, 2031	$321	$1,740	$284,971
Jun, 2031	$322	$1,738	$284,649
Jul, 2031	$324	$1,736	$284,325
Aug, 2031	$326	$1,734	$283,998
Sep, 2031	$328	$1,732	$283,670
Oct, 2031	$330	$1,730	$283,339
Nov, 2031	$332	$1,728	$283,007
Dec, 2031	$334	$1,726	$282,672
2031	$3,882	$20,847	$282,672
Jan, 2032	$336	$1,724	$282,336
Feb, 2032	$339	$1,722	$281,997
Mar, 2032	$341	$1,720	$281,657
Apr, 2032	$343	$1,718	$281,314
May, 2032	$345	$1,716	$280,969
Jun, 2032	$347	$1,714	$280,623
Jul, 2032	$349	$1,712	$280,274
Aug, 2032	$351	$1,710	$279,922
Sep, 2032	$353	$1,708	$279,569
Oct, 2032	$355	$1,705	$279,214
Nov, 2032	$358	$1,703	$278,856
Dec, 2032	$360	$1,701	$278,496
2032	$4,176	$20,553	$278,496
Jan, 2033	$362	$1,699	$278,134
Feb, 2033	$364	$1,697	$277,770
Mar, 2033	$366	$1,694	$277,404
Apr, 2033	$369	$1,692	$277,035
May, 2033	$371	$1,690	$276,664
Jun, 2033	$373	$1,688	$276,291
Jul, 2033	$375	$1,685	$275,916
Aug, 2033	$378	$1,683	$275,538
Sep, 2033	$380	$1,681	$275,158
Oct, 2033	$382	$1,678	$274,776
Nov, 2033	$385	$1,676	$274,391
Dec, 2033	$387	$1,674	$274,004
2033	$4,492	$20,237	$274,004
Jan, 2034	$389	$1,671	$273,615
Feb, 2034	$392	$1,669	$273,223
Mar, 2034	$394	$1,667	$272,829
Apr, 2034	$397	$1,664	$272,432
May, 2034	$399	$1,662	$272,033
Jun, 2034	$401	$1,659	$271,632
Jul, 2034	$404	$1,657	$271,228
Aug, 2034	$406	$1,654	$270,822
Sep, 2034	$409	$1,652	$270,413
Oct, 2034	$411	$1,650	$270,002
Nov, 2034	$414	$1,647	$269,588
Dec, 2034	$416	$1,644	$269,172
2034	$4,832	$19,897	$269,172
Jan, 2035	$419	$1,642	$268,753
Feb, 2035	$421	$1,639	$268,331
Mar, 2035	$424	$1,637	$267,907
Apr, 2035	$427	$1,634	$267,481
May, 2035	$429	$1,632	$267,052
Jun, 2035	$432	$1,629	$266,620
Jul, 2035	$434	$1,626	$266,186
Aug, 2035	$437	$1,624	$265,748
Sep, 2035	$440	$1,621	$265,309
Oct, 2035	$442	$1,618	$264,866
Nov, 2035	$445	$1,616	$264,421
Dec, 2035	$448	$1,613	$263,973
2035	$5,198	$19,531	$263,973
Jan, 2036	$451	$1,610	$263,523
Feb, 2036	$453	$1,607	$263,070
Mar, 2036	$456	$1,605	$262,613
Apr, 2036	$459	$1,602	$262,155
May, 2036	$462	$1,599	$261,693
Jun, 2036	$464	$1,596	$261,229
Jul, 2036	$467	$1,593	$260,761
Aug, 2036	$470	$1,591	$260,291
Sep, 2036	$473	$1,588	$259,818
Oct, 2036	$476	$1,585	$259,342
Nov, 2036	$479	$1,582	$258,863
Dec, 2036	$482	$1,579	$258,382
2036	$5,592	$19,138	$258,382
Jan, 2037	$485	$1,576	$257,897
Feb, 2037	$488	$1,573	$257,409
Mar, 2037	$491	$1,570	$256,919
Apr, 2037	$494	$1,567	$256,425
May, 2037	$497	$1,564	$255,929
Jun, 2037	$500	$1,561	$255,429
Jul, 2037	$503	$1,558	$254,926
Aug, 2037	$506	$1,555	$254,421
Sep, 2037	$509	$1,552	$253,912
Oct, 2037	$512	$1,549	$253,400
Nov, 2037	$515	$1,546	$252,885
Dec, 2037	$518	$1,543	$252,367
2037	$6,015	$18,714	$252,367
Jan, 2038	$521	$1,539	$251,845
Feb, 2038	$525	$1,536	$251,321
Mar, 2038	$528	$1,533	$250,793
Apr, 2038	$531	$1,530	$250,262
May, 2038	$534	$1,527	$249,728
Jun, 2038	$537	$1,523	$249,190
Jul, 2038	$541	$1,520	$248,650
Aug, 2038	$544	$1,517	$248,106
Sep, 2038	$547	$1,513	$247,558
Oct, 2038	$551	$1,510	$247,007
Nov, 2038	$554	$1,507	$246,453
Dec, 2038	$557	$1,503	$245,896
2038	$6,470	$18,259	$245,896
Jan, 2039	$561	$1,500	$245,335
Feb, 2039	$564	$1,497	$244,771
Mar, 2039	$568	$1,493	$244,203
Apr, 2039	$571	$1,490	$243,632
May, 2039	$575	$1,486	$243,057
Jun, 2039	$578	$1,483	$242,479
Jul, 2039	$582	$1,479	$241,898
Aug, 2039	$585	$1,476	$241,312
Sep, 2039	$589	$1,472	$240,724
Oct, 2039	$592	$1,468	$240,131
Nov, 2039	$596	$1,465	$239,535
Dec, 2039	$600	$1,461	$238,936
2039	$6,960	$17,769	$238,936
Jan, 2040	$603	$1,458	$238,332
Feb, 2040	$607	$1,454	$237,725
Mar, 2040	$611	$1,450	$237,115
Apr, 2040	$614	$1,446	$236,500
May, 2040	$618	$1,443	$235,882
Jun, 2040	$622	$1,439	$235,260
Jul, 2040	$626	$1,435	$234,635
Aug, 2040	$630	$1,431	$234,005
Sep, 2040	$633	$1,427	$233,372
Oct, 2040	$637	$1,424	$232,734
Nov, 2040	$641	$1,420	$232,093
Dec, 2040	$645	$1,416	$231,448
2040	$7,487	$17,242	$231,448
Jan, 2041	$649	$1,412	$230,799
Feb, 2041	$653	$1,408	$230,146
Mar, 2041	$657	$1,404	$229,490
Apr, 2041	$661	$1,400	$228,829
May, 2041	$665	$1,396	$228,164
Jun, 2041	$669	$1,392	$227,495
Jul, 2041	$673	$1,388	$226,822
Aug, 2041	$677	$1,384	$226,145
Sep, 2041	$681	$1,379	$225,463
Oct, 2041	$685	$1,375	$224,778
Nov, 2041	$690	$1,371	$224,088
Dec, 2041	$694	$1,367	$223,394
2041	$8,054	$16,675	$223,394
Jan, 2042	$698	$1,363	$222,696
Feb, 2042	$702	$1,358	$221,994
Mar, 2042	$707	$1,354	$221,287
Apr, 2042	$711	$1,350	$220,576
May, 2042	$715	$1,346	$219,861
Jun, 2042	$720	$1,341	$219,141
Jul, 2042	$724	$1,337	$218,417
Aug, 2042	$728	$1,332	$217,689
Sep, 2042	$733	$1,328	$216,956
Oct, 2042	$737	$1,323	$216,219
Nov, 2042	$742	$1,319	$215,477
Dec, 2042	$746	$1,314	$214,730
2042	$8,664	$16,066	$214,730
Jan, 2043	$751	$1,310	$213,979
Feb, 2043	$756	$1,305	$213,224
Mar, 2043	$760	$1,301	$212,464
Apr, 2043	$765	$1,296	$211,699
May, 2043	$769	$1,291	$210,930
Jun, 2043	$774	$1,287	$210,155
Jul, 2043	$779	$1,282	$209,377
Aug, 2043	$784	$1,277	$208,593
Sep, 2043	$788	$1,272	$207,805
Oct, 2043	$793	$1,268	$207,011
Nov, 2043	$798	$1,263	$206,213
Dec, 2043	$803	$1,258	$205,411
2043	$9,320	$15,410	$205,411
Jan, 2044	$808	$1,253	$204,603
Feb, 2044	$813	$1,248	$203,790
Mar, 2044	$818	$1,243	$202,972
Apr, 2044	$823	$1,238	$202,150
May, 2044	$828	$1,233	$201,322
Jun, 2044	$833	$1,228	$200,489
Jul, 2044	$838	$1,223	$199,651
Aug, 2044	$843	$1,218	$198,809
Sep, 2044	$848	$1,213	$197,961
Oct, 2044	$853	$1,208	$197,107
Nov, 2044	$858	$1,202	$196,249
Dec, 2044	$864	$1,197	$195,385
2044	$10,025	$14,704	$195,385
Jan, 2045	$869	$1,192	$194,516
Feb, 2045	$874	$1,187	$193,642
Mar, 2045	$880	$1,181	$192,762
Apr, 2045	$885	$1,176	$191,877
May, 2045	$890	$1,170	$190,987
Jun, 2045	$896	$1,165	$190,091
Jul, 2045	$901	$1,160	$189,190
Aug, 2045	$907	$1,154	$188,283
Sep, 2045	$912	$1,149	$187,371
Oct, 2045	$918	$1,143	$186,453
Nov, 2045	$923	$1,137	$185,530
Dec, 2045	$929	$1,132	$184,601
2045	$10,784	$13,945	$184,601
Jan, 2046	$935	$1,126	$183,666
Feb, 2046	$940	$1,120	$182,726
Mar, 2046	$946	$1,115	$181,779
Apr, 2046	$952	$1,109	$180,828
May, 2046	$958	$1,103	$179,870
Jun, 2046	$964	$1,097	$178,906
Jul, 2046	$969	$1,091	$177,937
Aug, 2046	$975	$1,085	$176,961
Sep, 2046	$981	$1,079	$175,980
Oct, 2046	$987	$1,073	$174,993
Nov, 2046	$993	$1,067	$173,999
Dec, 2046	$999	$1,061	$173,000
2046	$11,601	$13,129	$173,000
Jan, 2047	$1,005	$1,055	$171,995
Feb, 2047	$1,012	$1,049	$170,983
Mar, 2047	$1,018	$1,043	$169,965
Apr, 2047	$1,024	$1,037	$168,941
May, 2047	$1,030	$1,031	$167,911
Jun, 2047	$1,037	$1,024	$166,874
Jul, 2047	$1,043	$1,018	$165,831
Aug, 2047	$1,049	$1,012	$164,782
Sep, 2047	$1,056	$1,005	$163,727
Oct, 2047	$1,062	$999	$162,665
Nov, 2047	$1,069	$992	$161,596
Dec, 2047	$1,075	$986	$160,521
2047	$12,479	$12,250	$160,521
Jan, 2048	$1,082	$979	$159,439
Feb, 2048	$1,088	$973	$158,351
Mar, 2048	$1,095	$966	$157,256
Apr, 2048	$1,102	$959	$156,155
May, 2048	$1,108	$953	$155,046
Jun, 2048	$1,115	$946	$153,931
Jul, 2048	$1,122	$939	$152,810
Aug, 2048	$1,129	$932	$151,681
Sep, 2048	$1,136	$925	$150,545
Oct, 2048	$1,142	$918	$149,403
Nov, 2048	$1,149	$911	$148,254
Dec, 2048	$1,156	$904	$147,097
2048	$13,424	$11,306	$147,097
Jan, 2049	$1,163	$897	$145,934
Feb, 2049	$1,171	$890	$144,763
Mar, 2049	$1,178	$883	$143,585
Apr, 2049	$1,185	$876	$142,400
May, 2049	$1,192	$869	$141,208
Jun, 2049	$1,199	$861	$140,009
Jul, 2049	$1,207	$854	$138,802
Aug, 2049	$1,214	$847	$137,588
Sep, 2049	$1,222	$839	$136,366
Oct, 2049	$1,229	$832	$135,138
Nov, 2049	$1,236	$824	$133,901
Dec, 2049	$1,244	$817	$132,657
2049	$14,440	$10,289	$132,657
Jan, 2050	$1,252	$809	$131,405
Feb, 2050	$1,259	$802	$130,146
Mar, 2050	$1,267	$794	$128,879
Apr, 2050	$1,275	$786	$127,605
May, 2050	$1,282	$778	$126,322
Jun, 2050	$1,290	$771	$125,032
Jul, 2050	$1,298	$763	$123,734
Aug, 2050	$1,306	$755	$122,428
Sep, 2050	$1,314	$747	$121,114
Oct, 2050	$1,322	$739	$119,792
Nov, 2050	$1,330	$731	$118,462
Dec, 2050	$1,338	$723	$117,124
2050	$15,533	$9,196	$117,124
Jan, 2051	$1,346	$714	$115,777
Feb, 2051	$1,355	$706	$114,423
Mar, 2051	$1,363	$698	$113,060
Apr, 2051	$1,371	$690	$111,689
May, 2051	$1,379	$681	$110,309
Jun, 2051	$1,388	$673	$108,922
Jul, 2051	$1,396	$664	$107,525
Aug, 2051	$1,405	$656	$106,120
Sep, 2051	$1,413	$647	$104,707
Oct, 2051	$1,422	$639	$103,285
Nov, 2051	$1,431	$630	$101,854
Dec, 2051	$1,439	$621	$100,415
2051	$16,709	$8,020	$100,415
Jan, 2052	$1,448	$613	$98,966
Feb, 2052	$1,457	$604	$97,509
Mar, 2052	$1,466	$595	$96,043
Apr, 2052	$1,475	$586	$94,568
May, 2052	$1,484	$577	$93,084
Jun, 2052	$1,493	$568	$91,591
Jul, 2052	$1,502	$559	$90,089
Aug, 2052	$1,511	$550	$88,578
Sep, 2052	$1,520	$540	$87,058
Oct, 2052	$1,530	$531	$85,528
Nov, 2052	$1,539	$522	$83,989
Dec, 2052	$1,548	$512	$82,440
2052	$17,974	$6,755	$82,440
Jan, 2053	$1,558	$503	$80,882
Feb, 2053	$1,567	$493	$79,315
Mar, 2053	$1,577	$484	$77,738
Apr, 2053	$1,587	$474	$76,151
May, 2053	$1,596	$465	$74,555
Jun, 2053	$1,606	$455	$72,949
Jul, 2053	$1,616	$445	$71,333
Aug, 2053	$1,626	$435	$69,708
Sep, 2053	$1,636	$425	$68,072
Oct, 2053	$1,646	$415	$66,427
Nov, 2053	$1,656	$405	$64,771
Dec, 2053	$1,666	$395	$63,105
2053	$19,335	$5,394	$63,105
Jan, 2054	$1,676	$385	$61,429
Feb, 2054	$1,686	$375	$59,743
Mar, 2054	$1,696	$364	$58,047
Apr, 2054	$1,707	$354	$56,340
May, 2054	$1,717	$344	$54,623
Jun, 2054	$1,728	$333	$52,896
Jul, 2054	$1,738	$323	$51,157
Aug, 2054	$1,749	$312	$49,409
Sep, 2054	$1,759	$301	$47,649
Oct, 2054	$1,770	$291	$45,879
Nov, 2054	$1,781	$280	$44,098
Dec, 2054	$1,792	$269	$42,306
2054	$20,799	$3,931	$42,306
Jan, 2055	$1,803	$258	$40,504
Feb, 2055	$1,814	$247	$38,690
Mar, 2055	$1,825	$236	$36,865
Apr, 2055	$1,836	$225	$35,029
May, 2055	$1,847	$214	$33,182
Jun, 2055	$1,858	$202	$31,324
Jul, 2055	$1,870	$191	$29,454
Aug, 2055	$1,881	$180	$27,573
Sep, 2055	$1,893	$168	$25,680
Oct, 2055	$1,904	$157	$23,776
Nov, 2055	$1,916	$145	$21,861
Dec, 2055	$1,927	$133	$19,933
2055	$22,373	$2,356	$19,933
Jan, 2056	$1,939	$122	$17,994
Feb, 2056	$1,951	$110	$16,043
Mar, 2056	$1,963	$98	$14,080
Apr, 2056	$1,975	$86	$12,105
May, 2056	$1,987	$74	$10,118
Jun, 2056	$1,999	$62	$8,119
Jul, 2056	$2,011	$50	$6,108
Aug, 2056	$2,024	$37	$4,084
Sep, 2056	$2,036	$25	$2,048
Oct, 2056	$2,048	$12	$0
2056	$19,933	$675	$0
Totals	$300,000	$441,885

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 7.32 percent, a $300,000 mortgage costs about $2,061 a month in principal and interest. Over a 15-year term at 6.68 percent the payment rises to roughly $2,643. Property taxes, homeowner insurance and any PMI or HOA dues are added on top of these figures.
How much interest will I pay on a $300,000 mortgage?: A 30-year $300,000 mortgage at 7.32 percent costs about $441,885 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.68 percent cuts that to roughly $175,758, a saving of about $266,127, in exchange for a higher monthly payment.
What income do I need for a $300,000 mortgage?: Lenders commonly want your total housing payment to stay under 28 percent of gross monthly income. On that rule the $2,061 payment for a $300,000 mortgage implies an income of roughly $88,320 a year before tax — and more once you add property taxes and insurance, which the 28 percent test also counts.
What house price does a $300,000 mortgage buy?: It depends on your down payment. Borrowing $300,000 with 20 percent down corresponds to a purchase price of about $375,000, while 10 percent down puts the price near $333,333. A down payment below 20 percent on a conventional loan also adds PMI until you reach 20 percent equity.
How much does the interest rate change a $300,000 payment?: A great deal. On a 30-year term each quarter-point of rate moves the payment on a $300,000 mortgage by roughly $51 a month. The table on this page prices the loan from 5.00 percent to 8.00 percent so you can see the full range before you lock a rate.