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

At the current 30-year fixed average of 6.71 percent, a $300,000 mortgage costs about $1,938 a month in principal and interest. Over a 15-year term at 6.04 percent the payment rises to roughly $2,538. 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 6.71 percent costs about $397,617 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.04 percent cuts that to roughly $156,850, a saving of about $240,766, 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 $1,938 payment for a $300,000 mortgage implies an income of roughly $83,050 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 $50 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

$1,938

Monthly payment

$697,617

Total of 360 payments

Sep, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $397,617

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 6.71%: $397,617
Total interest, 15 years at 6.04%: $156,850
Income implied by the 28% rule: $83,050
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $240,766 in interest, at the cost of a higher monthly payment ($2,538 instead of $1,938). 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
Oct, 2026	$260	$1,678	$299,740
Nov, 2026	$262	$1,676	$299,478
Dec, 2026	$263	$1,675	$299,215
2026	$785	$5,028	$299,215
Jan, 2027	$265	$1,673	$298,950
Feb, 2027	$266	$1,672	$298,684
Mar, 2027	$268	$1,670	$298,416
Apr, 2027	$269	$1,669	$298,147
May, 2027	$271	$1,667	$297,876
Jun, 2027	$272	$1,666	$297,604
Jul, 2027	$274	$1,664	$297,330
Aug, 2027	$275	$1,663	$297,055
Sep, 2027	$277	$1,661	$296,778
Oct, 2027	$278	$1,659	$296,500
Nov, 2027	$280	$1,658	$296,220
Dec, 2027	$281	$1,656	$295,939
2027	$3,276	$19,978	$295,939
Jan, 2028	$283	$1,655	$295,655
Feb, 2028	$285	$1,653	$295,371
Mar, 2028	$286	$1,652	$295,085
Apr, 2028	$288	$1,650	$294,797
May, 2028	$289	$1,648	$294,507
Jun, 2028	$291	$1,647	$294,216
Jul, 2028	$293	$1,645	$293,924
Aug, 2028	$294	$1,644	$293,629
Sep, 2028	$296	$1,642	$293,333
Oct, 2028	$298	$1,640	$293,036
Nov, 2028	$299	$1,639	$292,737
Dec, 2028	$301	$1,637	$292,436
2028	$3,503	$19,751	$292,436
Jan, 2029	$303	$1,635	$292,133
Feb, 2029	$304	$1,634	$291,829
Mar, 2029	$306	$1,632	$291,523
Apr, 2029	$308	$1,630	$291,215
May, 2029	$309	$1,628	$290,906
Jun, 2029	$311	$1,627	$290,594
Jul, 2029	$313	$1,625	$290,281
Aug, 2029	$315	$1,623	$289,967
Sep, 2029	$316	$1,621	$289,650
Oct, 2029	$318	$1,620	$289,332
Nov, 2029	$320	$1,618	$289,012
Dec, 2029	$322	$1,616	$288,690
2029	$3,745	$19,509	$288,690
Jan, 2030	$324	$1,614	$288,367
Feb, 2030	$325	$1,612	$288,041
Mar, 2030	$327	$1,611	$287,714
Apr, 2030	$329	$1,609	$287,385
May, 2030	$331	$1,607	$287,054
Jun, 2030	$333	$1,605	$286,722
Jul, 2030	$335	$1,603	$286,387
Aug, 2030	$336	$1,601	$286,051
Sep, 2030	$338	$1,600	$285,712
Oct, 2030	$340	$1,598	$285,372
Nov, 2030	$342	$1,596	$285,030
Dec, 2030	$344	$1,594	$284,686
2030	$4,004	$19,249	$284,686
Jan, 2031	$346	$1,592	$284,340
Feb, 2031	$348	$1,590	$283,992
Mar, 2031	$350	$1,588	$283,642
Apr, 2031	$352	$1,586	$283,291
May, 2031	$354	$1,584	$282,937
Jun, 2031	$356	$1,582	$282,581
Jul, 2031	$358	$1,580	$282,223
Aug, 2031	$360	$1,578	$281,864
Sep, 2031	$362	$1,576	$281,502
Oct, 2031	$364	$1,574	$281,138
Nov, 2031	$366	$1,572	$280,772
Dec, 2031	$368	$1,570	$280,404
2031	$4,282	$18,972	$280,404
Jan, 2032	$370	$1,568	$280,035
Feb, 2032	$372	$1,566	$279,663
Mar, 2032	$374	$1,564	$279,289
Apr, 2032	$376	$1,562	$278,912
May, 2032	$378	$1,560	$278,534
Jun, 2032	$380	$1,557	$278,154
Jul, 2032	$382	$1,555	$277,771
Aug, 2032	$385	$1,553	$277,387
Sep, 2032	$387	$1,551	$277,000
Oct, 2032	$389	$1,549	$276,611
Nov, 2032	$391	$1,547	$276,220
Dec, 2032	$393	$1,545	$275,827
2032	$4,578	$18,676	$275,827
Jan, 2033	$395	$1,542	$275,431
Feb, 2033	$398	$1,540	$275,033
Mar, 2033	$400	$1,538	$274,633
Apr, 2033	$402	$1,536	$274,231
May, 2033	$404	$1,533	$273,827
Jun, 2033	$407	$1,531	$273,420
Jul, 2033	$409	$1,529	$273,011
Aug, 2033	$411	$1,527	$272,600
Sep, 2033	$414	$1,524	$272,187
Oct, 2033	$416	$1,522	$271,771
Nov, 2033	$418	$1,520	$271,352
Dec, 2033	$421	$1,517	$270,932
2033	$4,895	$18,359	$270,932
Jan, 2034	$423	$1,515	$270,509
Feb, 2034	$425	$1,513	$270,084
Mar, 2034	$428	$1,510	$269,656
Apr, 2034	$430	$1,508	$269,226
May, 2034	$432	$1,505	$268,794
Jun, 2034	$435	$1,503	$268,359
Jul, 2034	$437	$1,501	$267,922
Aug, 2034	$440	$1,498	$267,482
Sep, 2034	$442	$1,496	$267,040
Oct, 2034	$445	$1,493	$266,595
Nov, 2034	$447	$1,491	$266,148
Dec, 2034	$450	$1,488	$265,699
2034	$5,233	$18,021	$265,699
Jan, 2035	$452	$1,486	$265,246
Feb, 2035	$455	$1,483	$264,792
Mar, 2035	$457	$1,481	$264,335
Apr, 2035	$460	$1,478	$263,875
May, 2035	$462	$1,476	$263,413
Jun, 2035	$465	$1,473	$262,948
Jul, 2035	$468	$1,470	$262,480
Aug, 2035	$470	$1,468	$262,010
Sep, 2035	$473	$1,465	$261,537
Oct, 2035	$475	$1,462	$261,062
Nov, 2035	$478	$1,460	$260,584
Dec, 2035	$481	$1,457	$260,103
2035	$5,596	$17,658	$260,103
Jan, 2036	$483	$1,454	$259,620
Feb, 2036	$486	$1,452	$259,134
Mar, 2036	$489	$1,449	$258,645
Apr, 2036	$492	$1,446	$258,153
May, 2036	$494	$1,444	$257,659
Jun, 2036	$497	$1,441	$257,162
Jul, 2036	$500	$1,438	$256,662
Aug, 2036	$503	$1,435	$256,159
Sep, 2036	$505	$1,432	$255,654
Oct, 2036	$508	$1,430	$255,145
Nov, 2036	$511	$1,427	$254,634
Dec, 2036	$514	$1,424	$254,120
2036	$5,983	$17,271	$254,120
Jan, 2037	$517	$1,421	$253,603
Feb, 2037	$520	$1,418	$253,084
Mar, 2037	$523	$1,415	$252,561
Apr, 2037	$526	$1,412	$252,035
May, 2037	$529	$1,409	$251,507
Jun, 2037	$531	$1,406	$250,975
Jul, 2037	$534	$1,403	$250,441
Aug, 2037	$537	$1,400	$249,904
Sep, 2037	$540	$1,397	$249,363
Oct, 2037	$543	$1,394	$248,820
Nov, 2037	$547	$1,391	$248,273
Dec, 2037	$550	$1,388	$247,724
2037	$6,397	$16,857	$247,724
Jan, 2038	$553	$1,385	$247,171
Feb, 2038	$556	$1,382	$246,615
Mar, 2038	$559	$1,379	$246,056
Apr, 2038	$562	$1,376	$245,494
May, 2038	$565	$1,373	$244,929
Jun, 2038	$568	$1,370	$244,361
Jul, 2038	$571	$1,366	$243,790
Aug, 2038	$575	$1,363	$243,215
Sep, 2038	$578	$1,360	$242,637
Oct, 2038	$581	$1,357	$242,056
Nov, 2038	$584	$1,353	$241,472
Dec, 2038	$588	$1,350	$240,884
2038	$6,839	$16,414	$240,884
Jan, 2039	$591	$1,347	$240,293
Feb, 2039	$594	$1,344	$239,699
Mar, 2039	$598	$1,340	$239,102
Apr, 2039	$601	$1,337	$238,501
May, 2039	$604	$1,334	$237,897
Jun, 2039	$608	$1,330	$237,289
Jul, 2039	$611	$1,327	$236,678
Aug, 2039	$614	$1,323	$236,064
Sep, 2039	$618	$1,320	$235,446
Oct, 2039	$621	$1,317	$234,824
Nov, 2039	$625	$1,313	$234,200
Dec, 2039	$628	$1,310	$233,571
2039	$7,313	$15,941	$233,571
Jan, 2040	$632	$1,306	$232,940
Feb, 2040	$635	$1,303	$232,304
Mar, 2040	$639	$1,299	$231,665
Apr, 2040	$642	$1,295	$231,023
May, 2040	$646	$1,292	$230,377
Jun, 2040	$650	$1,288	$229,727
Jul, 2040	$653	$1,285	$229,074
Aug, 2040	$657	$1,281	$228,417
Sep, 2040	$661	$1,277	$227,757
Oct, 2040	$664	$1,274	$227,092
Nov, 2040	$668	$1,270	$226,424
Dec, 2040	$672	$1,266	$225,753
2040	$7,819	$15,435	$225,753
Jan, 2041	$675	$1,262	$225,077
Feb, 2041	$679	$1,259	$224,398
Mar, 2041	$683	$1,255	$223,715
Apr, 2041	$687	$1,251	$223,028
May, 2041	$691	$1,247	$222,337
Jun, 2041	$695	$1,243	$221,643
Jul, 2041	$698	$1,239	$220,944
Aug, 2041	$702	$1,235	$220,242
Sep, 2041	$706	$1,232	$219,535
Oct, 2041	$710	$1,228	$218,825
Nov, 2041	$714	$1,224	$218,111
Dec, 2041	$718	$1,220	$217,393
2041	$8,360	$14,894	$217,393
Jan, 2042	$722	$1,216	$216,670
Feb, 2042	$726	$1,212	$215,944
Mar, 2042	$730	$1,207	$215,214
Apr, 2042	$734	$1,203	$214,479
May, 2042	$739	$1,199	$213,741
Jun, 2042	$743	$1,195	$212,998
Jul, 2042	$747	$1,191	$212,251
Aug, 2042	$751	$1,187	$211,500
Sep, 2042	$755	$1,183	$210,745
Oct, 2042	$759	$1,178	$209,986
Nov, 2042	$764	$1,174	$209,222
Dec, 2042	$768	$1,170	$208,454
2042	$8,938	$14,315	$208,454
Jan, 2043	$772	$1,166	$207,682
Feb, 2043	$777	$1,161	$206,906
Mar, 2043	$781	$1,157	$206,125
Apr, 2043	$785	$1,153	$205,339
May, 2043	$790	$1,148	$204,550
Jun, 2043	$794	$1,144	$203,756
Jul, 2043	$798	$1,139	$202,957
Aug, 2043	$803	$1,135	$202,154
Sep, 2043	$807	$1,130	$201,347
Oct, 2043	$812	$1,126	$200,535
Nov, 2043	$817	$1,121	$199,718
Dec, 2043	$821	$1,117	$198,897
2043	$9,557	$13,697	$198,897
Jan, 2044	$826	$1,112	$198,072
Feb, 2044	$830	$1,108	$197,241
Mar, 2044	$835	$1,103	$196,406
Apr, 2044	$840	$1,098	$195,567
May, 2044	$844	$1,094	$194,723
Jun, 2044	$849	$1,089	$193,874
Jul, 2044	$854	$1,084	$193,020
Aug, 2044	$859	$1,079	$192,161
Sep, 2044	$863	$1,075	$191,298
Oct, 2044	$868	$1,070	$190,430
Nov, 2044	$873	$1,065	$189,557
Dec, 2044	$878	$1,060	$188,679
2044	$10,218	$13,036	$188,679
Jan, 2045	$883	$1,055	$187,796
Feb, 2045	$888	$1,050	$186,908
Mar, 2045	$893	$1,045	$186,016
Apr, 2045	$898	$1,040	$185,118
May, 2045	$903	$1,035	$184,215
Jun, 2045	$908	$1,030	$183,308
Jul, 2045	$913	$1,025	$182,395
Aug, 2045	$918	$1,020	$181,477
Sep, 2045	$923	$1,015	$180,554
Oct, 2045	$928	$1,010	$179,626
Nov, 2045	$933	$1,004	$178,692
Dec, 2045	$939	$999	$177,754
2045	$10,925	$12,328	$177,754
Jan, 2046	$944	$994	$176,810
Feb, 2046	$949	$989	$175,860
Mar, 2046	$954	$983	$174,906
Apr, 2046	$960	$978	$173,946
May, 2046	$965	$973	$172,981
Jun, 2046	$971	$967	$172,010
Jul, 2046	$976	$962	$171,034
Aug, 2046	$981	$956	$170,053
Sep, 2046	$987	$951	$169,066
Oct, 2046	$992	$945	$168,074
Nov, 2046	$998	$940	$167,076
Dec, 2046	$1,004	$934	$166,072
2046	$11,682	$11,572	$166,072
Jan, 2047	$1,009	$929	$165,063
Feb, 2047	$1,015	$923	$164,048
Mar, 2047	$1,021	$917	$163,027
Apr, 2047	$1,026	$912	$162,001
May, 2047	$1,032	$906	$160,969
Jun, 2047	$1,038	$900	$159,931
Jul, 2047	$1,044	$894	$158,888
Aug, 2047	$1,049	$888	$157,839
Sep, 2047	$1,055	$883	$156,783
Oct, 2047	$1,061	$877	$155,722
Nov, 2047	$1,067	$871	$154,655
Dec, 2047	$1,073	$865	$153,582
2047	$12,490	$10,764	$153,582
Jan, 2048	$1,079	$859	$152,503
Feb, 2048	$1,085	$853	$151,418
Mar, 2048	$1,091	$847	$150,327
Apr, 2048	$1,097	$841	$149,230
May, 2048	$1,103	$834	$148,126
Jun, 2048	$1,110	$828	$147,017
Jul, 2048	$1,116	$822	$145,901
Aug, 2048	$1,122	$816	$144,779
Sep, 2048	$1,128	$810	$143,651
Oct, 2048	$1,135	$803	$142,516
Nov, 2048	$1,141	$797	$141,375
Dec, 2048	$1,147	$791	$140,228
2048	$13,354	$9,900	$140,228
Jan, 2049	$1,154	$784	$139,074
Feb, 2049	$1,160	$778	$137,914
Mar, 2049	$1,167	$771	$136,747
Apr, 2049	$1,173	$765	$135,574
May, 2049	$1,180	$758	$134,394
Jun, 2049	$1,186	$751	$133,208
Jul, 2049	$1,193	$745	$132,015
Aug, 2049	$1,200	$738	$130,815
Sep, 2049	$1,206	$731	$129,609
Oct, 2049	$1,213	$725	$128,396
Nov, 2049	$1,220	$718	$127,176
Dec, 2049	$1,227	$711	$125,949
2049	$14,278	$8,975	$125,949
Jan, 2050	$1,234	$704	$124,716
Feb, 2050	$1,240	$697	$123,475
Mar, 2050	$1,247	$690	$122,228
Apr, 2050	$1,254	$683	$120,974
May, 2050	$1,261	$676	$119,712
Jun, 2050	$1,268	$669	$118,444
Jul, 2050	$1,276	$662	$117,168
Aug, 2050	$1,283	$655	$115,886
Sep, 2050	$1,290	$648	$114,596
Oct, 2050	$1,297	$641	$113,299
Nov, 2050	$1,304	$634	$111,994
Dec, 2050	$1,312	$626	$110,683
2050	$15,267	$7,987	$110,683
Jan, 2051	$1,319	$619	$109,364
Feb, 2051	$1,326	$612	$108,038
Mar, 2051	$1,334	$604	$106,704
Apr, 2051	$1,341	$597	$105,363
May, 2051	$1,349	$589	$104,014
Jun, 2051	$1,356	$582	$102,658
Jul, 2051	$1,364	$574	$101,294
Aug, 2051	$1,371	$566	$99,923
Sep, 2051	$1,379	$559	$98,543
Oct, 2051	$1,387	$551	$97,157
Nov, 2051	$1,395	$543	$95,762
Dec, 2051	$1,402	$535	$94,360
2051	$16,323	$6,931	$94,360
Jan, 2052	$1,410	$528	$92,950
Feb, 2052	$1,418	$520	$91,531
Mar, 2052	$1,426	$512	$90,105
Apr, 2052	$1,434	$504	$88,671
May, 2052	$1,442	$496	$87,229
Jun, 2052	$1,450	$488	$85,779
Jul, 2052	$1,458	$480	$84,321
Aug, 2052	$1,466	$471	$82,855
Sep, 2052	$1,475	$463	$81,380
Oct, 2052	$1,483	$455	$79,898
Nov, 2052	$1,491	$447	$78,407
Dec, 2052	$1,499	$438	$76,907
2052	$17,453	$5,801	$76,907
Jan, 2053	$1,508	$430	$75,399
Feb, 2053	$1,516	$422	$73,883
Mar, 2053	$1,525	$413	$72,358
Apr, 2053	$1,533	$405	$70,825
May, 2053	$1,542	$396	$69,283
Jun, 2053	$1,550	$387	$67,733
Jul, 2053	$1,559	$379	$66,174
Aug, 2053	$1,568	$370	$64,606
Sep, 2053	$1,577	$361	$63,030
Oct, 2053	$1,585	$352	$61,444
Nov, 2053	$1,594	$344	$59,850
Dec, 2053	$1,603	$335	$58,247
2053	$18,660	$4,594	$58,247
Jan, 2054	$1,612	$326	$56,635
Feb, 2054	$1,621	$317	$55,014
Mar, 2054	$1,630	$308	$53,383
Apr, 2054	$1,639	$299	$51,744
May, 2054	$1,648	$289	$50,096
Jun, 2054	$1,658	$280	$48,438
Jul, 2054	$1,667	$271	$46,771
Aug, 2054	$1,676	$262	$45,095
Sep, 2054	$1,686	$252	$43,409
Oct, 2054	$1,695	$243	$41,714
Nov, 2054	$1,705	$233	$40,009
Dec, 2054	$1,714	$224	$38,295
2054	$19,952	$3,302	$38,295
Jan, 2055	$1,724	$214	$36,571
Feb, 2055	$1,733	$204	$34,838
Mar, 2055	$1,743	$195	$33,095
Apr, 2055	$1,753	$185	$31,342
May, 2055	$1,763	$175	$29,580
Jun, 2055	$1,772	$165	$27,807
Jul, 2055	$1,782	$155	$26,025
Aug, 2055	$1,792	$146	$24,233
Sep, 2055	$1,802	$136	$22,430
Oct, 2055	$1,812	$125	$20,618
Nov, 2055	$1,823	$115	$18,795
Dec, 2055	$1,833	$105	$16,963
2055	$21,332	$1,921	$16,963
Jan, 2056	$1,843	$95	$15,120
Feb, 2056	$1,853	$85	$13,266
Mar, 2056	$1,864	$74	$11,403
Apr, 2056	$1,874	$64	$9,529
May, 2056	$1,885	$53	$7,644
Jun, 2056	$1,895	$43	$5,749
Jul, 2056	$1,906	$32	$3,843
Aug, 2056	$1,916	$21	$1,927
Sep, 2056	$1,927	$11	$0
2056	$16,963	$478	$0
Totals	$300,000	$397,617

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 6.71 percent, a $300,000 mortgage costs about $1,938 a month in principal and interest. Over a 15-year term at 6.04 percent the payment rises to roughly $2,538. 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 6.71 percent costs about $397,617 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.04 percent cuts that to roughly $156,850, a saving of about $240,766, 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 $1,938 payment for a $300,000 mortgage implies an income of roughly $83,050 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 $50 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.