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

At the current 30-year fixed average of 6.58 percent, a $300,000 mortgage costs about $1,912 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 6.58 percent costs about $388,325 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 $233,809, 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 $1,912 payment for a $300,000 mortgage implies an income of roughly $81,944 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

$1,912

Monthly payment

$688,325

Total of 360 payments

Jul, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $388,325

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 6.58%: $388,325
Total interest, 15 years at 5.96%: $154,517
Income implied by the 28% rule: $81,944
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $233,809 in interest, at the cost of a higher monthly payment ($2,525 instead of $1,912). 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
Aug, 2026	$267	$1,645	$299,733
Sep, 2026	$268	$1,644	$299,465
Oct, 2026	$270	$1,642	$299,195
Nov, 2026	$271	$1,641	$298,923
Dec, 2026	$273	$1,639	$298,650
2026	$1,350	$8,210	$298,650
Jan, 2027	$274	$1,638	$298,376
Feb, 2027	$276	$1,636	$298,100
Mar, 2027	$277	$1,635	$297,822
Apr, 2027	$279	$1,633	$297,543
May, 2027	$280	$1,632	$297,263
Jun, 2027	$282	$1,630	$296,981
Jul, 2027	$284	$1,628	$296,697
Aug, 2027	$285	$1,627	$296,412
Sep, 2027	$287	$1,625	$296,126
Oct, 2027	$288	$1,624	$295,837
Nov, 2027	$290	$1,622	$295,547
Dec, 2027	$291	$1,621	$295,256
2027	$3,394	$19,550	$295,256
Jan, 2028	$293	$1,619	$294,963
Feb, 2028	$295	$1,617	$294,668
Mar, 2028	$296	$1,616	$294,372
Apr, 2028	$298	$1,614	$294,074
May, 2028	$300	$1,613	$293,775
Jun, 2028	$301	$1,611	$293,474
Jul, 2028	$303	$1,609	$293,171
Aug, 2028	$304	$1,608	$292,866
Sep, 2028	$306	$1,606	$292,560
Oct, 2028	$308	$1,604	$292,252
Nov, 2028	$309	$1,603	$291,943
Dec, 2028	$311	$1,601	$291,632
2028	$3,624	$19,320	$291,632
Jan, 2029	$313	$1,599	$291,319
Feb, 2029	$315	$1,597	$291,004
Mar, 2029	$316	$1,596	$290,688
Apr, 2029	$318	$1,594	$290,370
May, 2029	$320	$1,592	$290,050
Jun, 2029	$322	$1,590	$289,728
Jul, 2029	$323	$1,589	$289,405
Aug, 2029	$325	$1,587	$289,080
Sep, 2029	$327	$1,585	$288,753
Oct, 2029	$329	$1,583	$288,424
Nov, 2029	$330	$1,582	$288,094
Dec, 2029	$332	$1,580	$287,762
2029	$3,870	$19,074	$287,762
Jan, 2030	$334	$1,578	$287,427
Feb, 2030	$336	$1,576	$287,091
Mar, 2030	$338	$1,574	$286,754
Apr, 2030	$340	$1,572	$286,414
May, 2030	$342	$1,571	$286,073
Jun, 2030	$343	$1,569	$285,729
Jul, 2030	$345	$1,567	$285,384
Aug, 2030	$347	$1,565	$285,037
Sep, 2030	$349	$1,563	$284,688
Oct, 2030	$351	$1,561	$284,337
Nov, 2030	$353	$1,559	$283,984
Dec, 2030	$355	$1,557	$283,629
2030	$4,133	$18,812	$283,629
Jan, 2031	$357	$1,555	$283,272
Feb, 2031	$359	$1,553	$282,913
Mar, 2031	$361	$1,551	$282,553
Apr, 2031	$363	$1,549	$282,190
May, 2031	$365	$1,547	$281,825
Jun, 2031	$367	$1,545	$281,459
Jul, 2031	$369	$1,543	$281,090
Aug, 2031	$371	$1,541	$280,719
Sep, 2031	$373	$1,539	$280,347
Oct, 2031	$375	$1,537	$279,972
Nov, 2031	$377	$1,535	$279,595
Dec, 2031	$379	$1,533	$279,216
2031	$4,413	$18,531	$279,216
Jan, 2032	$381	$1,531	$278,835
Feb, 2032	$383	$1,529	$278,452
Mar, 2032	$385	$1,527	$278,067
Apr, 2032	$387	$1,525	$277,680
May, 2032	$389	$1,523	$277,290
Jun, 2032	$392	$1,520	$276,899
Jul, 2032	$394	$1,518	$276,505
Aug, 2032	$396	$1,516	$276,109
Sep, 2032	$398	$1,514	$275,711
Oct, 2032	$400	$1,512	$275,311
Nov, 2032	$402	$1,510	$274,908
Dec, 2032	$405	$1,507	$274,504
2032	$4,712	$18,232	$274,504
Jan, 2033	$407	$1,505	$274,097
Feb, 2033	$409	$1,503	$273,688
Mar, 2033	$411	$1,501	$273,277
Apr, 2033	$414	$1,498	$272,863
May, 2033	$416	$1,496	$272,447
Jun, 2033	$418	$1,494	$272,029
Jul, 2033	$420	$1,492	$271,609
Aug, 2033	$423	$1,489	$271,186
Sep, 2033	$425	$1,487	$270,761
Oct, 2033	$427	$1,485	$270,334
Nov, 2033	$430	$1,482	$269,904
Dec, 2033	$432	$1,480	$269,472
2033	$5,032	$17,912	$269,472
Jan, 2034	$434	$1,478	$269,038
Feb, 2034	$437	$1,475	$268,601
Mar, 2034	$439	$1,473	$268,162
Apr, 2034	$442	$1,470	$267,720
May, 2034	$444	$1,468	$267,276
Jun, 2034	$446	$1,466	$266,830
Jul, 2034	$449	$1,463	$266,381
Aug, 2034	$451	$1,461	$265,929
Sep, 2034	$454	$1,458	$265,476
Oct, 2034	$456	$1,456	$265,019
Nov, 2034	$459	$1,453	$264,560
Dec, 2034	$461	$1,451	$264,099
2034	$5,373	$17,571	$264,099
Jan, 2035	$464	$1,448	$263,635
Feb, 2035	$466	$1,446	$263,169
Mar, 2035	$469	$1,443	$262,700
Apr, 2035	$472	$1,440	$262,228
May, 2035	$474	$1,438	$261,754
Jun, 2035	$477	$1,435	$261,277
Jul, 2035	$479	$1,433	$260,798
Aug, 2035	$482	$1,430	$260,316
Sep, 2035	$485	$1,427	$259,831
Oct, 2035	$487	$1,425	$259,344
Nov, 2035	$490	$1,422	$258,854
Dec, 2035	$493	$1,419	$258,362
2035	$5,737	$17,207	$258,362
Jan, 2036	$495	$1,417	$257,866
Feb, 2036	$498	$1,414	$257,368
Mar, 2036	$501	$1,411	$256,867
Apr, 2036	$504	$1,408	$256,364
May, 2036	$506	$1,406	$255,858
Jun, 2036	$509	$1,403	$255,349
Jul, 2036	$512	$1,400	$254,837
Aug, 2036	$515	$1,397	$254,322
Sep, 2036	$517	$1,395	$253,805
Oct, 2036	$520	$1,392	$253,284
Nov, 2036	$523	$1,389	$252,761
Dec, 2036	$526	$1,386	$252,235
2036	$6,127	$16,818	$252,235
Jan, 2037	$529	$1,383	$251,706
Feb, 2037	$532	$1,380	$251,174
Mar, 2037	$535	$1,377	$250,639
Apr, 2037	$538	$1,374	$250,102
May, 2037	$541	$1,371	$249,561
Jun, 2037	$544	$1,368	$249,018
Jul, 2037	$547	$1,365	$248,471
Aug, 2037	$550	$1,362	$247,921
Sep, 2037	$553	$1,359	$247,369
Oct, 2037	$556	$1,356	$246,813
Nov, 2037	$559	$1,353	$246,255
Dec, 2037	$562	$1,350	$245,693
2037	$6,542	$16,402	$245,693
Jan, 2038	$565	$1,347	$245,128
Feb, 2038	$568	$1,344	$244,560
Mar, 2038	$571	$1,341	$243,989
Apr, 2038	$574	$1,338	$243,415
May, 2038	$577	$1,335	$242,838
Jun, 2038	$580	$1,332	$242,257
Jul, 2038	$584	$1,328	$241,674
Aug, 2038	$587	$1,325	$241,087
Sep, 2038	$590	$1,322	$240,497
Oct, 2038	$593	$1,319	$239,903
Nov, 2038	$597	$1,315	$239,307
Dec, 2038	$600	$1,312	$238,707
2038	$6,986	$15,958	$238,707
Jan, 2039	$603	$1,309	$238,104
Feb, 2039	$606	$1,306	$237,498
Mar, 2039	$610	$1,302	$236,888
Apr, 2039	$613	$1,299	$236,275
May, 2039	$616	$1,296	$235,658
Jun, 2039	$620	$1,292	$235,039
Jul, 2039	$623	$1,289	$234,415
Aug, 2039	$627	$1,285	$233,789
Sep, 2039	$630	$1,282	$233,159
Oct, 2039	$634	$1,278	$232,525
Nov, 2039	$637	$1,275	$231,888
Dec, 2039	$640	$1,272	$231,248
2039	$7,460	$15,485	$231,248
Jan, 2040	$644	$1,268	$230,604
Feb, 2040	$648	$1,264	$229,956
Mar, 2040	$651	$1,261	$229,305
Apr, 2040	$655	$1,257	$228,650
May, 2040	$658	$1,254	$227,992
Jun, 2040	$662	$1,250	$227,330
Jul, 2040	$665	$1,247	$226,665
Aug, 2040	$669	$1,243	$225,996
Sep, 2040	$673	$1,239	$225,323
Oct, 2040	$676	$1,236	$224,646
Nov, 2040	$680	$1,232	$223,966
Dec, 2040	$684	$1,228	$223,282
2040	$7,965	$14,979	$223,282
Jan, 2041	$688	$1,224	$222,594
Feb, 2041	$691	$1,221	$221,903
Mar, 2041	$695	$1,217	$221,208
Apr, 2041	$699	$1,213	$220,509
May, 2041	$703	$1,209	$219,806
Jun, 2041	$707	$1,205	$219,099
Jul, 2041	$711	$1,201	$218,388
Aug, 2041	$715	$1,197	$217,674
Sep, 2041	$718	$1,194	$216,955
Oct, 2041	$722	$1,190	$216,233
Nov, 2041	$726	$1,186	$215,507
Dec, 2041	$730	$1,182	$214,776
2041	$8,506	$14,438	$214,776
Jan, 2042	$734	$1,178	$214,042
Feb, 2042	$738	$1,174	$213,304
Mar, 2042	$742	$1,170	$212,561
Apr, 2042	$746	$1,166	$211,815
May, 2042	$751	$1,161	$211,064
Jun, 2042	$755	$1,157	$210,310
Jul, 2042	$759	$1,153	$209,551
Aug, 2042	$763	$1,149	$208,788
Sep, 2042	$767	$1,145	$208,021
Oct, 2042	$771	$1,141	$207,249
Nov, 2042	$776	$1,136	$206,474
Dec, 2042	$780	$1,132	$205,694
2042	$9,083	$13,862	$205,694
Jan, 2043	$784	$1,128	$204,910
Feb, 2043	$788	$1,124	$204,121
Mar, 2043	$793	$1,119	$203,329
Apr, 2043	$797	$1,115	$202,531
May, 2043	$801	$1,111	$201,730
Jun, 2043	$806	$1,106	$200,924
Jul, 2043	$810	$1,102	$200,114
Aug, 2043	$815	$1,097	$199,299
Sep, 2043	$819	$1,093	$198,480
Oct, 2043	$824	$1,088	$197,656
Nov, 2043	$828	$1,084	$196,828
Dec, 2043	$833	$1,079	$195,995
2043	$9,699	$13,246	$195,995
Jan, 2044	$837	$1,075	$195,158
Feb, 2044	$842	$1,070	$194,316
Mar, 2044	$847	$1,065	$193,470
Apr, 2044	$851	$1,061	$192,618
May, 2044	$856	$1,056	$191,763
Jun, 2044	$861	$1,051	$190,902
Jul, 2044	$865	$1,047	$190,037
Aug, 2044	$870	$1,042	$189,167
Sep, 2044	$875	$1,037	$188,292
Oct, 2044	$880	$1,032	$187,413
Nov, 2044	$884	$1,028	$186,528
Dec, 2044	$889	$1,023	$185,639
2044	$10,356	$12,588	$185,639
Jan, 2045	$894	$1,018	$184,745
Feb, 2045	$899	$1,013	$183,846
Mar, 2045	$904	$1,008	$182,942
Apr, 2045	$909	$1,003	$182,033
May, 2045	$914	$998	$181,119
Jun, 2045	$919	$993	$180,200
Jul, 2045	$924	$988	$179,276
Aug, 2045	$929	$983	$178,347
Sep, 2045	$934	$978	$177,413
Oct, 2045	$939	$973	$176,474
Nov, 2045	$944	$968	$175,530
Dec, 2045	$950	$962	$174,580
2045	$11,059	$11,885	$174,580
Jan, 2046	$955	$957	$173,626
Feb, 2046	$960	$952	$172,666
Mar, 2046	$965	$947	$171,700
Apr, 2046	$971	$941	$170,730
May, 2046	$976	$936	$169,754
Jun, 2046	$981	$931	$168,773
Jul, 2046	$987	$925	$167,786
Aug, 2046	$992	$920	$166,794
Sep, 2046	$997	$915	$165,797
Oct, 2046	$1,003	$909	$164,794
Nov, 2046	$1,008	$904	$163,785
Dec, 2046	$1,014	$898	$162,772
2046	$11,809	$11,135	$162,772
Jan, 2047	$1,019	$893	$161,752
Feb, 2047	$1,025	$887	$160,727
Mar, 2047	$1,031	$881	$159,696
Apr, 2047	$1,036	$876	$158,660
May, 2047	$1,042	$870	$157,618
Jun, 2047	$1,048	$864	$156,570
Jul, 2047	$1,053	$859	$155,517
Aug, 2047	$1,059	$853	$154,457
Sep, 2047	$1,065	$847	$153,392
Oct, 2047	$1,071	$841	$152,321
Nov, 2047	$1,077	$835	$151,245
Dec, 2047	$1,083	$829	$150,162
2047	$12,610	$10,335	$150,162
Jan, 2048	$1,089	$823	$149,073
Feb, 2048	$1,095	$817	$147,979
Mar, 2048	$1,101	$811	$146,878
Apr, 2048	$1,107	$805	$145,772
May, 2048	$1,113	$799	$144,659
Jun, 2048	$1,119	$793	$143,540
Jul, 2048	$1,125	$787	$142,415
Aug, 2048	$1,131	$781	$141,284
Sep, 2048	$1,137	$775	$140,147
Oct, 2048	$1,144	$768	$139,003
Nov, 2048	$1,150	$762	$137,853
Dec, 2048	$1,156	$756	$136,697
2048	$13,465	$9,479	$136,697
Jan, 2049	$1,162	$750	$135,535
Feb, 2049	$1,169	$743	$134,366
Mar, 2049	$1,175	$737	$133,191
Apr, 2049	$1,182	$730	$132,009
May, 2049	$1,188	$724	$130,821
Jun, 2049	$1,195	$717	$129,626
Jul, 2049	$1,201	$711	$128,425
Aug, 2049	$1,208	$704	$127,217
Sep, 2049	$1,214	$698	$126,003
Oct, 2049	$1,221	$691	$124,782
Nov, 2049	$1,228	$684	$123,554
Dec, 2049	$1,235	$677	$122,319
2049	$14,378	$8,566	$122,319
Jan, 2050	$1,241	$671	$121,078
Feb, 2050	$1,248	$664	$119,830
Mar, 2050	$1,255	$657	$118,575
Apr, 2050	$1,262	$650	$117,313
May, 2050	$1,269	$643	$116,044
Jun, 2050	$1,276	$636	$114,769
Jul, 2050	$1,283	$629	$113,486
Aug, 2050	$1,290	$622	$112,196
Sep, 2050	$1,297	$615	$110,899
Oct, 2050	$1,304	$608	$109,595
Nov, 2050	$1,311	$601	$108,284
Dec, 2050	$1,318	$594	$106,966
2050	$15,353	$7,591	$106,966
Jan, 2051	$1,325	$587	$105,641
Feb, 2051	$1,333	$579	$104,308
Mar, 2051	$1,340	$572	$102,968
Apr, 2051	$1,347	$565	$101,620
May, 2051	$1,355	$557	$100,266
Jun, 2051	$1,362	$550	$98,903
Jul, 2051	$1,370	$542	$97,534
Aug, 2051	$1,377	$535	$96,156
Sep, 2051	$1,385	$527	$94,772
Oct, 2051	$1,392	$520	$93,379
Nov, 2051	$1,400	$512	$91,979
Dec, 2051	$1,408	$504	$90,572
2051	$16,394	$6,550	$90,572
Jan, 2052	$1,415	$497	$89,156
Feb, 2052	$1,423	$489	$87,733
Mar, 2052	$1,431	$481	$86,302
Apr, 2052	$1,439	$473	$84,863
May, 2052	$1,447	$465	$83,417
Jun, 2052	$1,455	$457	$81,962
Jul, 2052	$1,463	$449	$80,500
Aug, 2052	$1,471	$441	$79,029
Sep, 2052	$1,479	$433	$77,550
Oct, 2052	$1,487	$425	$76,064
Nov, 2052	$1,495	$417	$74,569
Dec, 2052	$1,503	$409	$73,065
2052	$17,506	$5,438	$73,065
Jan, 2053	$1,511	$401	$71,554
Feb, 2053	$1,520	$392	$70,034
Mar, 2053	$1,528	$384	$68,506
Apr, 2053	$1,536	$376	$66,970
May, 2053	$1,545	$367	$65,425
Jun, 2053	$1,553	$359	$63,872
Jul, 2053	$1,562	$350	$62,310
Aug, 2053	$1,570	$342	$60,740
Sep, 2053	$1,579	$333	$59,161
Oct, 2053	$1,588	$324	$57,573
Nov, 2053	$1,596	$316	$55,977
Dec, 2053	$1,605	$307	$54,372
2053	$18,694	$4,251	$54,372
Jan, 2054	$1,614	$298	$52,758
Feb, 2054	$1,623	$289	$51,135
Mar, 2054	$1,632	$280	$49,504
Apr, 2054	$1,641	$271	$47,863
May, 2054	$1,650	$262	$46,214
Jun, 2054	$1,659	$253	$44,555
Jul, 2054	$1,668	$244	$42,887
Aug, 2054	$1,677	$235	$41,210
Sep, 2054	$1,686	$226	$39,524
Oct, 2054	$1,695	$217	$37,829
Nov, 2054	$1,705	$207	$36,124
Dec, 2054	$1,714	$198	$34,410
2054	$19,961	$2,983	$34,410
Jan, 2055	$1,723	$189	$32,687
Feb, 2055	$1,733	$179	$30,954
Mar, 2055	$1,742	$170	$29,212
Apr, 2055	$1,752	$160	$27,460
May, 2055	$1,761	$151	$25,699
Jun, 2055	$1,771	$141	$23,928
Jul, 2055	$1,781	$131	$22,147
Aug, 2055	$1,791	$121	$20,356
Sep, 2055	$1,800	$112	$18,556
Oct, 2055	$1,810	$102	$16,746
Nov, 2055	$1,820	$92	$14,925
Dec, 2055	$1,830	$82	$13,095
2055	$21,315	$1,629	$13,095
Jan, 2056	$1,840	$72	$11,255
Feb, 2056	$1,850	$62	$9,405
Mar, 2056	$1,860	$52	$7,544
Apr, 2056	$1,871	$41	$5,674
May, 2056	$1,881	$31	$3,793
Jun, 2056	$1,891	$21	$1,902
Jul, 2056	$1,902	$10	$0
2056	$13,095	$289	$0
Totals	$300,000	$388,325

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 6.58 percent, a $300,000 mortgage costs about $1,912 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 6.58 percent costs about $388,325 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 $233,809, 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 $1,912 payment for a $300,000 mortgage implies an income of roughly $81,944 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.