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

At the current 30-year fixed average of 6.67 percent, a $300,000 mortgage costs about $1,930 a month in principal and interest. Over a 15-year term at 5.96 percent the payment rises to roughly $2,525. 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 6.67 percent costs about $394,752 in total interest — more than the amount borrowed. Choosing a 15-year term at 5.96 percent cuts that to roughly $154,517, a saving of about $240,236, 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 $1,930 payment for a $300,000 mortgage implies an income of roughly $82,709 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

$1,930

Monthly payment

$694,752

Total of 360 payments

Aug, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $394,752

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 6.67%: $394,752
Total interest, 15 years at 5.96%: $154,517
Income implied by the 28% rule: $82,709
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $240,236 in interest, at the cost of a higher monthly payment ($2,525 instead of $1,930). 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
Sep, 2026	$262	$1,668	$299,738
Oct, 2026	$264	$1,666	$299,474
Nov, 2026	$265	$1,665	$299,209
Dec, 2026	$267	$1,663	$298,942
2026	$1,058	$6,661	$298,942
Jan, 2027	$268	$1,662	$298,673
Feb, 2027	$270	$1,660	$298,404
Mar, 2027	$271	$1,659	$298,133
Apr, 2027	$273	$1,657	$297,860
May, 2027	$274	$1,656	$297,586
Jun, 2027	$276	$1,654	$297,310
Jul, 2027	$277	$1,653	$297,032
Aug, 2027	$279	$1,651	$296,754
Sep, 2027	$280	$1,649	$296,473
Oct, 2027	$282	$1,648	$296,191
Nov, 2027	$284	$1,646	$295,908
Dec, 2027	$285	$1,645	$295,622
2027	$3,319	$19,839	$295,622
Jan, 2028	$287	$1,643	$295,336
Feb, 2028	$288	$1,642	$295,048
Mar, 2028	$290	$1,640	$294,758
Apr, 2028	$292	$1,638	$294,466
May, 2028	$293	$1,637	$294,173
Jun, 2028	$295	$1,635	$293,878
Jul, 2028	$296	$1,633	$293,582
Aug, 2028	$298	$1,632	$293,284
Sep, 2028	$300	$1,630	$292,984
Oct, 2028	$301	$1,629	$292,683
Nov, 2028	$303	$1,627	$292,380
Dec, 2028	$305	$1,625	$292,075
2028	$3,548	$19,611	$292,075
Jan, 2029	$306	$1,623	$291,769
Feb, 2029	$308	$1,622	$291,460
Mar, 2029	$310	$1,620	$291,151
Apr, 2029	$312	$1,618	$290,839
May, 2029	$313	$1,617	$290,526
Jun, 2029	$315	$1,615	$290,211
Jul, 2029	$317	$1,613	$289,894
Aug, 2029	$319	$1,611	$289,575
Sep, 2029	$320	$1,610	$289,255
Oct, 2029	$322	$1,608	$288,933
Nov, 2029	$324	$1,606	$288,609
Dec, 2029	$326	$1,604	$288,283
2029	$3,792	$19,367	$288,283
Jan, 2030	$327	$1,602	$287,956
Feb, 2030	$329	$1,601	$287,627
Mar, 2030	$331	$1,599	$287,295
Apr, 2030	$333	$1,597	$286,962
May, 2030	$335	$1,595	$286,628
Jun, 2030	$337	$1,593	$286,291
Jul, 2030	$339	$1,591	$285,952
Aug, 2030	$340	$1,589	$285,612
Sep, 2030	$342	$1,588	$285,270
Oct, 2030	$344	$1,586	$284,925
Nov, 2030	$346	$1,584	$284,579
Dec, 2030	$348	$1,582	$284,231
2030	$4,052	$19,106	$284,231
Jan, 2031	$350	$1,580	$283,881
Feb, 2031	$352	$1,578	$283,529
Mar, 2031	$354	$1,576	$283,175
Apr, 2031	$356	$1,574	$282,819
May, 2031	$358	$1,572	$282,461
Jun, 2031	$360	$1,570	$282,102
Jul, 2031	$362	$1,568	$281,740
Aug, 2031	$364	$1,566	$281,376
Sep, 2031	$366	$1,564	$281,010
Oct, 2031	$368	$1,562	$280,642
Nov, 2031	$370	$1,560	$280,272
Dec, 2031	$372	$1,558	$279,900
2031	$4,331	$18,827	$279,900
Jan, 2032	$374	$1,556	$279,526
Feb, 2032	$376	$1,554	$279,150
Mar, 2032	$378	$1,552	$278,772
Apr, 2032	$380	$1,550	$278,391
May, 2032	$382	$1,547	$278,009
Jun, 2032	$385	$1,545	$277,624
Jul, 2032	$387	$1,543	$277,237
Aug, 2032	$389	$1,541	$276,849
Sep, 2032	$391	$1,539	$276,457
Oct, 2032	$393	$1,537	$276,064
Nov, 2032	$395	$1,534	$275,669
Dec, 2032	$398	$1,532	$275,271
2032	$4,629	$18,530	$275,271
Jan, 2033	$400	$1,530	$274,871
Feb, 2033	$402	$1,528	$274,469
Mar, 2033	$404	$1,526	$274,065
Apr, 2033	$407	$1,523	$273,659
May, 2033	$409	$1,521	$273,250
Jun, 2033	$411	$1,519	$272,839
Jul, 2033	$413	$1,517	$272,425
Aug, 2033	$416	$1,514	$272,010
Sep, 2033	$418	$1,512	$271,592
Oct, 2033	$420	$1,510	$271,172
Nov, 2033	$423	$1,507	$270,749
Dec, 2033	$425	$1,505	$270,324
2033	$4,947	$18,211	$270,324
Jan, 2034	$427	$1,503	$269,897
Feb, 2034	$430	$1,500	$269,467
Mar, 2034	$432	$1,498	$269,035
Apr, 2034	$434	$1,495	$268,600
May, 2034	$437	$1,493	$268,163
Jun, 2034	$439	$1,491	$267,724
Jul, 2034	$442	$1,488	$267,282
Aug, 2034	$444	$1,486	$266,838
Sep, 2034	$447	$1,483	$266,391
Oct, 2034	$449	$1,481	$265,942
Nov, 2034	$452	$1,478	$265,491
Dec, 2034	$454	$1,476	$265,036
2034	$5,288	$17,871	$265,036
Jan, 2035	$457	$1,473	$264,580
Feb, 2035	$459	$1,471	$264,121
Mar, 2035	$462	$1,468	$263,659
Apr, 2035	$464	$1,466	$263,194
May, 2035	$467	$1,463	$262,727
Jun, 2035	$470	$1,460	$262,258
Jul, 2035	$472	$1,458	$261,786
Aug, 2035	$475	$1,455	$261,311
Sep, 2035	$477	$1,452	$260,834
Oct, 2035	$480	$1,450	$260,353
Nov, 2035	$483	$1,447	$259,871
Dec, 2035	$485	$1,444	$259,385
2035	$5,651	$17,507	$259,385
Jan, 2036	$488	$1,442	$258,897
Feb, 2036	$491	$1,439	$258,406
Mar, 2036	$494	$1,436	$257,913
Apr, 2036	$496	$1,434	$257,416
May, 2036	$499	$1,431	$256,917
Jun, 2036	$502	$1,428	$256,416
Jul, 2036	$505	$1,425	$255,911
Aug, 2036	$507	$1,422	$255,404
Sep, 2036	$510	$1,420	$254,893
Oct, 2036	$513	$1,417	$254,380
Nov, 2036	$516	$1,414	$253,864
Dec, 2036	$519	$1,411	$253,345
2036	$6,040	$17,119	$253,345
Jan, 2037	$522	$1,408	$252,824
Feb, 2037	$525	$1,405	$252,299
Mar, 2037	$528	$1,402	$251,772
Apr, 2037	$530	$1,399	$251,241
May, 2037	$533	$1,396	$250,708
Jun, 2037	$536	$1,394	$250,171
Jul, 2037	$539	$1,391	$249,632
Aug, 2037	$542	$1,388	$249,090
Sep, 2037	$545	$1,385	$248,544
Oct, 2037	$548	$1,381	$247,996
Nov, 2037	$551	$1,378	$247,445
Dec, 2037	$554	$1,375	$246,890
2037	$6,455	$16,703	$246,890
Jan, 2038	$558	$1,372	$246,333
Feb, 2038	$561	$1,369	$245,772
Mar, 2038	$564	$1,366	$245,208
Apr, 2038	$567	$1,363	$244,641
May, 2038	$570	$1,360	$244,071
Jun, 2038	$573	$1,357	$243,498
Jul, 2038	$576	$1,353	$242,922
Aug, 2038	$580	$1,350	$242,342
Sep, 2038	$583	$1,347	$241,759
Oct, 2038	$586	$1,344	$241,173
Nov, 2038	$589	$1,341	$240,584
Dec, 2038	$593	$1,337	$239,991
2038	$6,899	$16,259	$239,991
Jan, 2039	$596	$1,334	$239,395
Feb, 2039	$599	$1,331	$238,796
Mar, 2039	$603	$1,327	$238,193
Apr, 2039	$606	$1,324	$237,587
May, 2039	$609	$1,321	$236,978
Jun, 2039	$613	$1,317	$236,365
Jul, 2039	$616	$1,314	$235,749
Aug, 2039	$619	$1,310	$235,130
Sep, 2039	$623	$1,307	$234,507
Oct, 2039	$626	$1,303	$233,881
Nov, 2039	$630	$1,300	$233,251
Dec, 2039	$633	$1,296	$232,617
2039	$7,374	$15,785	$232,617
Jan, 2040	$637	$1,293	$231,980
Feb, 2040	$640	$1,289	$231,340
Mar, 2040	$644	$1,286	$230,696
Apr, 2040	$648	$1,282	$230,048
May, 2040	$651	$1,279	$229,397
Jun, 2040	$655	$1,275	$228,742
Jul, 2040	$658	$1,271	$228,084
Aug, 2040	$662	$1,268	$227,422
Sep, 2040	$666	$1,264	$226,756
Oct, 2040	$669	$1,260	$226,087
Nov, 2040	$673	$1,257	$225,413
Dec, 2040	$677	$1,253	$224,736
2040	$7,881	$15,278	$224,736
Jan, 2041	$681	$1,249	$224,056
Feb, 2041	$684	$1,245	$223,371
Mar, 2041	$688	$1,242	$222,683
Apr, 2041	$692	$1,238	$221,991
May, 2041	$696	$1,234	$221,295
Jun, 2041	$700	$1,230	$220,595
Jul, 2041	$704	$1,226	$219,891
Aug, 2041	$708	$1,222	$219,184
Sep, 2041	$712	$1,218	$218,472
Oct, 2041	$716	$1,214	$217,756
Nov, 2041	$720	$1,210	$217,037
Dec, 2041	$724	$1,206	$216,313
2041	$8,423	$14,736	$216,313
Jan, 2042	$728	$1,202	$215,586
Feb, 2042	$732	$1,198	$214,854
Mar, 2042	$736	$1,194	$214,119
Apr, 2042	$740	$1,190	$213,379
May, 2042	$744	$1,186	$212,635
Jun, 2042	$748	$1,182	$211,887
Jul, 2042	$752	$1,178	$211,135
Aug, 2042	$756	$1,174	$210,379
Sep, 2042	$761	$1,169	$209,618
Oct, 2042	$765	$1,165	$208,854
Nov, 2042	$769	$1,161	$208,085
Dec, 2042	$773	$1,157	$207,311
2042	$9,002	$14,156	$207,311
Jan, 2043	$778	$1,152	$206,534
Feb, 2043	$782	$1,148	$205,752
Mar, 2043	$786	$1,144	$204,966
Apr, 2043	$791	$1,139	$204,175
May, 2043	$795	$1,135	$203,380
Jun, 2043	$799	$1,130	$202,581
Jul, 2043	$804	$1,126	$201,777
Aug, 2043	$808	$1,122	$200,968
Sep, 2043	$813	$1,117	$200,156
Oct, 2043	$817	$1,113	$199,338
Nov, 2043	$822	$1,108	$198,516
Dec, 2043	$826	$1,103	$197,690
2043	$9,621	$13,537	$197,690
Jan, 2044	$831	$1,099	$196,859
Feb, 2044	$836	$1,094	$196,023
Mar, 2044	$840	$1,090	$195,183
Apr, 2044	$845	$1,085	$194,338
May, 2044	$850	$1,080	$193,488
Jun, 2044	$854	$1,075	$192,634
Jul, 2044	$859	$1,071	$191,775
Aug, 2044	$864	$1,066	$190,911
Sep, 2044	$869	$1,061	$190,042
Oct, 2044	$874	$1,056	$189,169
Nov, 2044	$878	$1,051	$188,290
Dec, 2044	$883	$1,047	$187,407
2044	$10,283	$12,875	$187,407
Jan, 2045	$888	$1,042	$186,519
Feb, 2045	$893	$1,037	$185,626
Mar, 2045	$898	$1,032	$184,727
Apr, 2045	$903	$1,027	$183,824
May, 2045	$908	$1,022	$182,916
Jun, 2045	$913	$1,017	$182,003
Jul, 2045	$918	$1,012	$181,085
Aug, 2045	$923	$1,007	$180,161
Sep, 2045	$928	$1,001	$179,233
Oct, 2045	$934	$996	$178,299
Nov, 2045	$939	$991	$177,361
Dec, 2045	$944	$986	$176,417
2045	$10,990	$12,168	$176,417
Jan, 2046	$949	$981	$175,467
Feb, 2046	$955	$975	$174,513
Mar, 2046	$960	$970	$173,553
Apr, 2046	$965	$965	$172,588
May, 2046	$971	$959	$171,617
Jun, 2046	$976	$954	$170,641
Jul, 2046	$981	$948	$169,660
Aug, 2046	$987	$943	$168,673
Sep, 2046	$992	$938	$167,681
Oct, 2046	$998	$932	$166,683
Nov, 2046	$1,003	$926	$165,679
Dec, 2046	$1,009	$921	$164,670
2046	$11,746	$11,412	$164,670
Jan, 2047	$1,015	$915	$163,656
Feb, 2047	$1,020	$910	$162,636
Mar, 2047	$1,026	$904	$161,610
Apr, 2047	$1,032	$898	$160,578
May, 2047	$1,037	$893	$159,541
Jun, 2047	$1,043	$887	$158,498
Jul, 2047	$1,049	$881	$157,449
Aug, 2047	$1,055	$875	$156,394
Sep, 2047	$1,061	$869	$155,333
Oct, 2047	$1,066	$863	$154,267
Nov, 2047	$1,072	$857	$153,195
Dec, 2047	$1,078	$852	$152,116
2047	$12,554	$10,604	$152,116
Jan, 2048	$1,084	$846	$151,032
Feb, 2048	$1,090	$839	$149,941
Mar, 2048	$1,096	$833	$148,845
Apr, 2048	$1,103	$827	$147,743
May, 2048	$1,109	$821	$146,634
Jun, 2048	$1,115	$815	$145,519
Jul, 2048	$1,121	$809	$144,398
Aug, 2048	$1,127	$803	$143,271
Sep, 2048	$1,134	$796	$142,137
Oct, 2048	$1,140	$790	$140,997
Nov, 2048	$1,146	$784	$139,851
Dec, 2048	$1,153	$777	$138,699
2048	$13,418	$9,741	$138,699
Jan, 2049	$1,159	$771	$137,540
Feb, 2049	$1,165	$764	$136,374
Mar, 2049	$1,172	$758	$135,203
Apr, 2049	$1,178	$752	$134,024
May, 2049	$1,185	$745	$132,839
Jun, 2049	$1,192	$738	$131,648
Jul, 2049	$1,198	$732	$130,450
Aug, 2049	$1,205	$725	$129,245
Sep, 2049	$1,211	$718	$128,033
Oct, 2049	$1,218	$712	$126,815
Nov, 2049	$1,225	$705	$125,590
Dec, 2049	$1,232	$698	$124,358
2049	$14,340	$8,818	$124,358
Jan, 2050	$1,239	$691	$123,120
Feb, 2050	$1,246	$684	$121,874
Mar, 2050	$1,252	$677	$120,622
Apr, 2050	$1,259	$670	$119,362
May, 2050	$1,266	$663	$118,096
Jun, 2050	$1,273	$656	$116,822
Jul, 2050	$1,281	$649	$115,542
Aug, 2050	$1,288	$642	$114,254
Sep, 2050	$1,295	$635	$112,959
Oct, 2050	$1,302	$628	$111,657
Nov, 2050	$1,309	$621	$110,348
Dec, 2050	$1,317	$613	$109,032
2050	$15,327	$7,832	$109,032
Jan, 2051	$1,324	$606	$107,708
Feb, 2051	$1,331	$599	$106,377
Mar, 2051	$1,339	$591	$105,038
Apr, 2051	$1,346	$584	$103,692
May, 2051	$1,354	$576	$102,339
Jun, 2051	$1,361	$569	$100,978
Jul, 2051	$1,369	$561	$99,609
Aug, 2051	$1,376	$554	$98,233
Sep, 2051	$1,384	$546	$96,849
Oct, 2051	$1,392	$538	$95,457
Nov, 2051	$1,399	$531	$94,058
Dec, 2051	$1,407	$523	$92,651
2051	$16,381	$6,778	$92,651
Jan, 2052	$1,415	$515	$91,236
Feb, 2052	$1,423	$507	$89,813
Mar, 2052	$1,431	$499	$88,383
Apr, 2052	$1,439	$491	$86,944
May, 2052	$1,447	$483	$85,497
Jun, 2052	$1,455	$475	$84,043
Jul, 2052	$1,463	$467	$82,580
Aug, 2052	$1,471	$459	$81,109
Sep, 2052	$1,479	$451	$79,630
Oct, 2052	$1,487	$443	$78,143
Nov, 2052	$1,496	$434	$76,647
Dec, 2052	$1,504	$426	$75,144
2052	$17,507	$5,651	$75,144
Jan, 2053	$1,512	$418	$73,631
Feb, 2053	$1,521	$409	$72,111
Mar, 2053	$1,529	$401	$70,582
Apr, 2053	$1,538	$392	$69,044
May, 2053	$1,546	$384	$67,498
Jun, 2053	$1,555	$375	$65,943
Jul, 2053	$1,563	$367	$64,380
Aug, 2053	$1,572	$358	$62,808
Sep, 2053	$1,581	$349	$61,227
Oct, 2053	$1,590	$340	$59,638
Nov, 2053	$1,598	$331	$58,039
Dec, 2053	$1,607	$323	$56,432
2053	$18,711	$4,447	$56,432
Jan, 2054	$1,616	$314	$54,816
Feb, 2054	$1,625	$305	$53,191
Mar, 2054	$1,634	$296	$51,557
Apr, 2054	$1,643	$287	$49,913
May, 2054	$1,652	$277	$48,261
Jun, 2054	$1,662	$268	$46,599
Jul, 2054	$1,671	$259	$44,928
Aug, 2054	$1,680	$250	$43,248
Sep, 2054	$1,689	$240	$41,559
Oct, 2054	$1,699	$231	$39,860
Nov, 2054	$1,708	$222	$38,151
Dec, 2054	$1,718	$212	$36,434
2054	$19,998	$3,160	$36,434
Jan, 2055	$1,727	$203	$34,706
Feb, 2055	$1,737	$193	$32,969
Mar, 2055	$1,747	$183	$31,223
Apr, 2055	$1,756	$174	$29,466
May, 2055	$1,766	$164	$27,700
Jun, 2055	$1,776	$154	$25,924
Jul, 2055	$1,786	$144	$24,139
Aug, 2055	$1,796	$134	$22,343
Sep, 2055	$1,806	$124	$20,537
Oct, 2055	$1,816	$114	$18,722
Nov, 2055	$1,826	$104	$16,896
Dec, 2055	$1,836	$94	$15,060
2055	$21,374	$1,785	$15,060
Jan, 2056	$1,846	$84	$13,214
Feb, 2056	$1,856	$73	$11,357
Mar, 2056	$1,867	$63	$9,491
Apr, 2056	$1,877	$53	$7,613
May, 2056	$1,888	$42	$5,726
Jun, 2056	$1,898	$32	$3,828
Jul, 2056	$1,909	$21	$1,919
Aug, 2056	$1,919	$11	$0
2056	$15,060	$379	$0
Totals	$300,000	$394,752

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 6.67 percent, a $300,000 mortgage costs about $1,930 a month in principal and interest. Over a 15-year term at 5.96 percent the payment rises to roughly $2,525. 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 6.67 percent costs about $394,752 in total interest — more than the amount borrowed. Choosing a 15-year term at 5.96 percent cuts that to roughly $154,517, a saving of about $240,236, 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 $1,930 payment for a $300,000 mortgage implies an income of roughly $82,709 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.