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

At the current 30-year fixed average of 7.28 percent, a $300,000 mortgage costs about $2,053 a month in principal and interest. Over a 15-year term at 6.60 percent the payment rises to roughly $2,630. 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 7.28 percent costs about $438,949 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.60 percent cuts that to roughly $173,372, a saving of about $265,578, 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 $2,053 payment for a $300,000 mortgage implies an income of roughly $87,970 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

$2,053

Monthly payment

$738,949

Total of 360 payments

Oct, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $438,949

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 7.28%: $438,949
Total interest, 15 years at 6.60%: $173,372
Income implied by the 28% rule: $87,970
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $265,578 in interest, at the cost of a higher monthly payment ($2,630 instead of $2,053). 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	$233	$1,820	$299,767
Dec, 2026	$234	$1,819	$299,533
2026	$467	$3,639	$299,533
Jan, 2027	$235	$1,817	$299,298
Feb, 2027	$237	$1,816	$299,061
Mar, 2027	$238	$1,814	$298,823
Apr, 2027	$240	$1,813	$298,583
May, 2027	$241	$1,811	$298,342
Jun, 2027	$243	$1,810	$298,099
Jul, 2027	$244	$1,808	$297,855
Aug, 2027	$246	$1,807	$297,609
Sep, 2027	$247	$1,805	$297,362
Oct, 2027	$249	$1,804	$297,113
Nov, 2027	$250	$1,802	$296,863
Dec, 2027	$252	$1,801	$296,611
2027	$2,922	$21,710	$296,611
Jan, 2028	$253	$1,799	$296,358
Feb, 2028	$255	$1,798	$296,104
Mar, 2028	$256	$1,796	$295,847
Apr, 2028	$258	$1,795	$295,589
May, 2028	$259	$1,793	$295,330
Jun, 2028	$261	$1,792	$295,069
Jul, 2028	$263	$1,790	$294,807
Aug, 2028	$264	$1,788	$294,542
Sep, 2028	$266	$1,787	$294,277
Oct, 2028	$267	$1,785	$294,009
Nov, 2028	$269	$1,784	$293,740
Dec, 2028	$271	$1,782	$293,470
2028	$3,142	$21,490	$293,470
Jan, 2029	$272	$1,780	$293,197
Feb, 2029	$274	$1,779	$292,924
Mar, 2029	$276	$1,777	$292,648
Apr, 2029	$277	$1,775	$292,371
May, 2029	$279	$1,774	$292,092
Jun, 2029	$281	$1,772	$291,811
Jul, 2029	$282	$1,770	$291,529
Aug, 2029	$284	$1,769	$291,245
Sep, 2029	$286	$1,767	$290,959
Oct, 2029	$287	$1,765	$290,672
Nov, 2029	$289	$1,763	$290,382
Dec, 2029	$291	$1,762	$290,091
2029	$3,378	$21,253	$290,091
Jan, 2030	$293	$1,760	$289,799
Feb, 2030	$295	$1,758	$289,504
Mar, 2030	$296	$1,756	$289,208
Apr, 2030	$298	$1,755	$288,910
May, 2030	$300	$1,753	$288,610
Jun, 2030	$302	$1,751	$288,308
Jul, 2030	$304	$1,749	$288,004
Aug, 2030	$305	$1,747	$287,699
Sep, 2030	$307	$1,745	$287,392
Oct, 2030	$309	$1,744	$287,083
Nov, 2030	$311	$1,742	$286,772
Dec, 2030	$313	$1,740	$286,459
2030	$3,633	$20,999	$286,459
Jan, 2031	$315	$1,738	$286,144
Feb, 2031	$317	$1,736	$285,827
Mar, 2031	$319	$1,734	$285,509
Apr, 2031	$321	$1,732	$285,188
May, 2031	$322	$1,730	$284,866
Jun, 2031	$324	$1,728	$284,541
Jul, 2031	$326	$1,726	$284,215
Aug, 2031	$328	$1,724	$283,886
Sep, 2031	$330	$1,722	$283,556
Oct, 2031	$332	$1,720	$283,224
Nov, 2031	$334	$1,718	$282,889
Dec, 2031	$336	$1,716	$282,553
2031	$3,906	$20,726	$282,553
Jan, 2032	$338	$1,714	$282,214
Feb, 2032	$341	$1,712	$281,874
Mar, 2032	$343	$1,710	$281,531
Apr, 2032	$345	$1,708	$281,186
May, 2032	$347	$1,706	$280,840
Jun, 2032	$349	$1,704	$280,491
Jul, 2032	$351	$1,702	$280,140
Aug, 2032	$353	$1,700	$279,787
Sep, 2032	$355	$1,697	$279,431
Oct, 2032	$357	$1,695	$279,074
Nov, 2032	$360	$1,693	$278,714
Dec, 2032	$362	$1,691	$278,353
2032	$4,200	$20,432	$278,353
Jan, 2033	$364	$1,689	$277,989
Feb, 2033	$366	$1,686	$277,622
Mar, 2033	$368	$1,684	$277,254
Apr, 2033	$371	$1,682	$276,883
May, 2033	$373	$1,680	$276,511
Jun, 2033	$375	$1,677	$276,135
Jul, 2033	$377	$1,675	$275,758
Aug, 2033	$380	$1,673	$275,378
Sep, 2033	$382	$1,671	$274,996
Oct, 2033	$384	$1,668	$274,612
Nov, 2033	$387	$1,666	$274,225
Dec, 2033	$389	$1,664	$273,836
2033	$4,516	$20,115	$273,836
Jan, 2034	$391	$1,661	$273,445
Feb, 2034	$394	$1,659	$273,051
Mar, 2034	$396	$1,657	$272,655
Apr, 2034	$399	$1,654	$272,257
May, 2034	$401	$1,652	$271,856
Jun, 2034	$403	$1,649	$271,452
Jul, 2034	$406	$1,647	$271,046
Aug, 2034	$408	$1,644	$270,638
Sep, 2034	$411	$1,642	$270,227
Oct, 2034	$413	$1,639	$269,814
Nov, 2034	$416	$1,637	$269,398
Dec, 2034	$418	$1,634	$268,980
2034	$4,856	$19,775	$268,980
Jan, 2035	$421	$1,632	$268,559
Feb, 2035	$423	$1,629	$268,136
Mar, 2035	$426	$1,627	$267,710
Apr, 2035	$429	$1,624	$267,281
May, 2035	$431	$1,622	$266,850
Jun, 2035	$434	$1,619	$266,417
Jul, 2035	$436	$1,616	$265,980
Aug, 2035	$439	$1,614	$265,541
Sep, 2035	$442	$1,611	$265,099
Oct, 2035	$444	$1,608	$264,655
Nov, 2035	$447	$1,606	$264,208
Dec, 2035	$450	$1,603	$263,758
2035	$5,222	$19,410	$263,758
Jan, 2036	$453	$1,600	$263,306
Feb, 2036	$455	$1,597	$262,850
Mar, 2036	$458	$1,595	$262,392
Apr, 2036	$461	$1,592	$261,932
May, 2036	$464	$1,589	$261,468
Jun, 2036	$466	$1,586	$261,002
Jul, 2036	$469	$1,583	$260,532
Aug, 2036	$472	$1,581	$260,060
Sep, 2036	$475	$1,578	$259,585
Oct, 2036	$478	$1,575	$259,108
Nov, 2036	$481	$1,572	$258,627
Dec, 2036	$484	$1,569	$258,143
2036	$5,615	$19,017	$258,143
Jan, 2037	$487	$1,566	$257,657
Feb, 2037	$490	$1,563	$257,167
Mar, 2037	$492	$1,560	$256,675
Apr, 2037	$495	$1,557	$256,179
May, 2037	$498	$1,554	$255,681
Jun, 2037	$502	$1,551	$255,179
Jul, 2037	$505	$1,548	$254,675
Aug, 2037	$508	$1,545	$254,167
Sep, 2037	$511	$1,542	$253,656
Oct, 2037	$514	$1,539	$253,143
Nov, 2037	$517	$1,536	$252,626
Dec, 2037	$520	$1,533	$252,106
2037	$6,038	$18,594	$252,106
Jan, 2038	$523	$1,529	$251,582
Feb, 2038	$526	$1,526	$251,056
Mar, 2038	$530	$1,523	$250,527
Apr, 2038	$533	$1,520	$249,994
May, 2038	$536	$1,517	$249,458
Jun, 2038	$539	$1,513	$248,918
Jul, 2038	$543	$1,510	$248,376
Aug, 2038	$546	$1,507	$247,830
Sep, 2038	$549	$1,504	$247,281
Oct, 2038	$552	$1,500	$246,729
Nov, 2038	$556	$1,497	$246,173
Dec, 2038	$559	$1,493	$245,614
2038	$6,492	$18,140	$245,614
Jan, 2039	$563	$1,490	$245,051
Feb, 2039	$566	$1,487	$244,485
Mar, 2039	$569	$1,483	$243,916
Apr, 2039	$573	$1,480	$243,343
May, 2039	$576	$1,476	$242,766
Jun, 2039	$580	$1,473	$242,186
Jul, 2039	$583	$1,469	$241,603
Aug, 2039	$587	$1,466	$241,016
Sep, 2039	$590	$1,462	$240,426
Oct, 2039	$594	$1,459	$239,832
Nov, 2039	$598	$1,455	$239,234
Dec, 2039	$601	$1,451	$238,633
2039	$6,981	$17,651	$238,633
Jan, 2040	$605	$1,448	$238,028
Feb, 2040	$609	$1,444	$237,419
Mar, 2040	$612	$1,440	$236,807
Apr, 2040	$616	$1,437	$236,191
May, 2040	$620	$1,433	$235,571
Jun, 2040	$624	$1,429	$234,948
Jul, 2040	$627	$1,425	$234,320
Aug, 2040	$631	$1,422	$233,689
Sep, 2040	$635	$1,418	$233,054
Oct, 2040	$639	$1,414	$232,415
Nov, 2040	$643	$1,410	$231,773
Dec, 2040	$647	$1,406	$231,126
2040	$7,506	$17,125	$231,126
Jan, 2041	$650	$1,402	$230,476
Feb, 2041	$654	$1,398	$229,821
Mar, 2041	$658	$1,394	$229,163
Apr, 2041	$662	$1,390	$228,501
May, 2041	$666	$1,386	$227,834
Jun, 2041	$670	$1,382	$227,164
Jul, 2041	$675	$1,378	$226,489
Aug, 2041	$679	$1,374	$225,811
Sep, 2041	$683	$1,370	$225,128
Oct, 2041	$687	$1,366	$224,441
Nov, 2041	$691	$1,362	$223,750
Dec, 2041	$695	$1,357	$223,055
2041	$8,071	$16,560	$223,055
Jan, 2042	$699	$1,353	$222,355
Feb, 2042	$704	$1,349	$221,652
Mar, 2042	$708	$1,345	$220,944
Apr, 2042	$712	$1,340	$220,232
May, 2042	$717	$1,336	$219,515
Jun, 2042	$721	$1,332	$218,794
Jul, 2042	$725	$1,327	$218,069
Aug, 2042	$730	$1,323	$217,339
Sep, 2042	$734	$1,319	$216,605
Oct, 2042	$739	$1,314	$215,866
Nov, 2042	$743	$1,310	$215,123
Dec, 2042	$748	$1,305	$214,376
2042	$8,679	$15,953	$214,376
Jan, 2043	$752	$1,301	$213,624
Feb, 2043	$757	$1,296	$212,867
Mar, 2043	$761	$1,291	$212,106
Apr, 2043	$766	$1,287	$211,340
May, 2043	$771	$1,282	$210,569
Jun, 2043	$775	$1,277	$209,794
Jul, 2043	$780	$1,273	$209,014
Aug, 2043	$785	$1,268	$208,230
Sep, 2043	$789	$1,263	$207,440
Oct, 2043	$794	$1,258	$206,646
Nov, 2043	$799	$1,254	$205,847
Dec, 2043	$804	$1,249	$205,043
2043	$9,332	$15,299	$205,043
Jan, 2044	$809	$1,244	$204,235
Feb, 2044	$814	$1,239	$203,421
Mar, 2044	$819	$1,234	$202,603
Apr, 2044	$824	$1,229	$201,779
May, 2044	$829	$1,224	$200,951
Jun, 2044	$834	$1,219	$200,117
Jul, 2044	$839	$1,214	$199,278
Aug, 2044	$844	$1,209	$198,435
Sep, 2044	$849	$1,204	$197,586
Oct, 2044	$854	$1,199	$196,732
Nov, 2044	$859	$1,194	$195,873
Dec, 2044	$864	$1,188	$195,008
2044	$10,035	$14,597	$195,008
Jan, 2045	$870	$1,183	$194,139
Feb, 2045	$875	$1,178	$193,264
Mar, 2045	$880	$1,172	$192,384
Apr, 2045	$886	$1,167	$191,498
May, 2045	$891	$1,162	$190,607
Jun, 2045	$896	$1,156	$189,711
Jul, 2045	$902	$1,151	$188,809
Aug, 2045	$907	$1,145	$187,902
Sep, 2045	$913	$1,140	$186,990
Oct, 2045	$918	$1,134	$186,071
Nov, 2045	$924	$1,129	$185,148
Dec, 2045	$929	$1,123	$184,218
2045	$10,790	$13,841	$184,218
Jan, 2046	$935	$1,118	$183,283
Feb, 2046	$941	$1,112	$182,342
Mar, 2046	$946	$1,106	$181,396
Apr, 2046	$952	$1,100	$180,444
May, 2046	$958	$1,095	$179,486
Jun, 2046	$964	$1,089	$178,522
Jul, 2046	$970	$1,083	$177,552
Aug, 2046	$975	$1,077	$176,577
Sep, 2046	$981	$1,071	$175,596
Oct, 2046	$987	$1,065	$174,608
Nov, 2046	$993	$1,059	$173,615
Dec, 2046	$999	$1,053	$172,616
2046	$11,603	$13,029	$172,616
Jan, 2047	$1,005	$1,047	$171,610
Feb, 2047	$1,012	$1,041	$170,599
Mar, 2047	$1,018	$1,035	$169,581
Apr, 2047	$1,024	$1,029	$168,557
May, 2047	$1,030	$1,023	$167,527
Jun, 2047	$1,036	$1,016	$166,491
Jul, 2047	$1,043	$1,010	$165,448
Aug, 2047	$1,049	$1,004	$164,399
Sep, 2047	$1,055	$997	$163,344
Oct, 2047	$1,062	$991	$162,282
Nov, 2047	$1,068	$985	$161,214
Dec, 2047	$1,075	$978	$160,139
2047	$12,476	$12,156	$160,139
Jan, 2048	$1,081	$972	$159,058
Feb, 2048	$1,088	$965	$157,971
Mar, 2048	$1,094	$958	$156,876
Apr, 2048	$1,101	$952	$155,775
May, 2048	$1,108	$945	$154,668
Jun, 2048	$1,114	$938	$153,554
Jul, 2048	$1,121	$932	$152,432
Aug, 2048	$1,128	$925	$151,305
Sep, 2048	$1,135	$918	$150,170
Oct, 2048	$1,142	$911	$149,028
Nov, 2048	$1,149	$904	$147,880
Dec, 2048	$1,155	$897	$146,724
2048	$13,415	$11,216	$146,724
Jan, 2049	$1,163	$890	$145,562
Feb, 2049	$1,170	$883	$144,392
Mar, 2049	$1,177	$876	$143,215
Apr, 2049	$1,184	$869	$142,032
May, 2049	$1,191	$862	$140,841
Jun, 2049	$1,198	$854	$139,643
Jul, 2049	$1,205	$847	$138,437
Aug, 2049	$1,213	$840	$137,224
Sep, 2049	$1,220	$832	$136,004
Oct, 2049	$1,228	$825	$134,777
Nov, 2049	$1,235	$818	$133,542
Dec, 2049	$1,242	$810	$132,299
2049	$14,425	$10,207	$132,299
Jan, 2050	$1,250	$803	$131,049
Feb, 2050	$1,258	$795	$129,791
Mar, 2050	$1,265	$787	$128,526
Apr, 2050	$1,273	$780	$127,253
May, 2050	$1,281	$772	$125,973
Jun, 2050	$1,288	$764	$124,684
Jul, 2050	$1,296	$756	$123,388
Aug, 2050	$1,304	$749	$122,084
Sep, 2050	$1,312	$741	$120,772
Oct, 2050	$1,320	$733	$119,452
Nov, 2050	$1,328	$725	$118,124
Dec, 2050	$1,336	$717	$116,788
2050	$15,511	$9,121	$116,788
Jan, 2051	$1,344	$709	$115,444
Feb, 2051	$1,352	$700	$114,092
Mar, 2051	$1,360	$692	$112,731
Apr, 2051	$1,369	$684	$111,362
May, 2051	$1,377	$676	$109,985
Jun, 2051	$1,385	$667	$108,600
Jul, 2051	$1,394	$659	$107,206
Aug, 2051	$1,402	$650	$105,804
Sep, 2051	$1,411	$642	$104,393
Oct, 2051	$1,419	$633	$102,974
Nov, 2051	$1,428	$625	$101,546
Dec, 2051	$1,437	$616	$100,109
2051	$16,679	$7,953	$100,109
Jan, 2052	$1,445	$607	$98,664
Feb, 2052	$1,454	$599	$97,210
Mar, 2052	$1,463	$590	$95,747
Apr, 2052	$1,472	$581	$94,275
May, 2052	$1,481	$572	$92,795
Jun, 2052	$1,490	$563	$91,305
Jul, 2052	$1,499	$554	$89,806
Aug, 2052	$1,508	$545	$88,298
Sep, 2052	$1,517	$536	$86,781
Oct, 2052	$1,526	$526	$85,255
Nov, 2052	$1,535	$517	$83,720
Dec, 2052	$1,545	$508	$82,175
2052	$17,934	$6,697	$82,175
Jan, 2053	$1,554	$499	$80,621
Feb, 2053	$1,564	$489	$79,057
Mar, 2053	$1,573	$480	$77,484
Apr, 2053	$1,583	$470	$75,902
May, 2053	$1,592	$460	$74,310
Jun, 2053	$1,602	$451	$72,708
Jul, 2053	$1,612	$441	$71,096
Aug, 2053	$1,621	$431	$69,475
Sep, 2053	$1,631	$421	$67,844
Oct, 2053	$1,641	$412	$66,203
Nov, 2053	$1,651	$402	$64,552
Dec, 2053	$1,661	$392	$62,891
2053	$19,284	$5,347	$62,891
Jan, 2054	$1,671	$382	$61,220
Feb, 2054	$1,681	$371	$59,538
Mar, 2054	$1,691	$361	$57,847
Apr, 2054	$1,702	$351	$56,145
May, 2054	$1,712	$341	$54,433
Jun, 2054	$1,722	$330	$52,711
Jul, 2054	$1,733	$320	$50,978
Aug, 2054	$1,743	$309	$49,235
Sep, 2054	$1,754	$299	$47,481
Oct, 2054	$1,765	$288	$45,716
Nov, 2054	$1,775	$277	$43,941
Dec, 2054	$1,786	$267	$42,155
2054	$20,736	$3,896	$42,155
Jan, 2055	$1,797	$256	$40,358
Feb, 2055	$1,808	$245	$38,550
Mar, 2055	$1,819	$234	$36,731
Apr, 2055	$1,830	$223	$34,902
May, 2055	$1,841	$212	$33,061
Jun, 2055	$1,852	$201	$31,209
Jul, 2055	$1,863	$189	$29,345
Aug, 2055	$1,875	$178	$27,471
Sep, 2055	$1,886	$167	$25,585
Oct, 2055	$1,897	$155	$23,687
Nov, 2055	$1,909	$144	$21,778
Dec, 2055	$1,921	$132	$19,858
2055	$22,297	$2,335	$19,858
Jan, 2056	$1,932	$120	$17,926
Feb, 2056	$1,944	$109	$15,982
Mar, 2056	$1,956	$97	$14,026
Apr, 2056	$1,968	$85	$12,058
May, 2056	$1,979	$73	$10,079
Jun, 2056	$1,991	$61	$8,088
Jul, 2056	$2,004	$49	$6,084
Aug, 2056	$2,016	$37	$4,068
Sep, 2056	$2,028	$25	$2,040
Oct, 2056	$2,040	$12	$0
2056	$19,858	$669	$0
Totals	$300,000	$438,949

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 7.28 percent, a $300,000 mortgage costs about $2,053 a month in principal and interest. Over a 15-year term at 6.60 percent the payment rises to roughly $2,630. 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 7.28 percent costs about $438,949 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.60 percent cuts that to roughly $173,372, a saving of about $265,578, 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 $2,053 payment for a $300,000 mortgage implies an income of roughly $87,970 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.