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

At the current 30-year fixed average of 6.95 percent, a $300,000 mortgage costs about $1,986 a month in principal and interest. Over a 15-year term at 6.26 percent the payment rises to roughly $2,574. 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 6.95 percent costs about $414,904 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.26 percent cuts that to roughly $163,303, a saving of about $251,601, 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 $1,986 payment for a $300,000 mortgage implies an income of roughly $85,108 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

$1,986

Monthly payment

$714,904

Total of 360 payments

Sep, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $414,904

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 6.95%: $414,904
Total interest, 15 years at 6.26%: $163,303
Income implied by the 28% rule: $85,108
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $251,601 in interest, at the cost of a higher monthly payment ($2,574 instead of $1,986). 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	$248	$1,738	$299,752
Nov, 2026	$250	$1,736	$299,502
Dec, 2026	$251	$1,735	$299,251
2026	$749	$5,208	$299,251
Jan, 2027	$253	$1,733	$298,998
Feb, 2027	$254	$1,732	$298,744
Mar, 2027	$256	$1,730	$298,488
Apr, 2027	$257	$1,729	$298,231
May, 2027	$259	$1,727	$297,973
Jun, 2027	$260	$1,726	$297,712
Jul, 2027	$262	$1,724	$297,451
Aug, 2027	$263	$1,723	$297,188
Sep, 2027	$265	$1,721	$296,923
Oct, 2027	$266	$1,720	$296,657
Nov, 2027	$268	$1,718	$296,389
Dec, 2027	$269	$1,717	$296,120
2027	$3,131	$20,699	$296,120
Jan, 2028	$271	$1,715	$295,849
Feb, 2028	$272	$1,713	$295,577
Mar, 2028	$274	$1,712	$295,303
Apr, 2028	$276	$1,710	$295,027
May, 2028	$277	$1,709	$294,750
Jun, 2028	$279	$1,707	$294,471
Jul, 2028	$280	$1,705	$294,191
Aug, 2028	$282	$1,704	$293,909
Sep, 2028	$284	$1,702	$293,625
Oct, 2028	$285	$1,701	$293,340
Nov, 2028	$287	$1,699	$293,053
Dec, 2028	$289	$1,697	$292,765
2028	$3,355	$20,475	$292,765
Jan, 2029	$290	$1,696	$292,474
Feb, 2029	$292	$1,694	$292,182
Mar, 2029	$294	$1,692	$291,889
Apr, 2029	$295	$1,691	$291,594
May, 2029	$297	$1,689	$291,296
Jun, 2029	$299	$1,687	$290,998
Jul, 2029	$300	$1,685	$290,697
Aug, 2029	$302	$1,684	$290,395
Sep, 2029	$304	$1,682	$290,091
Oct, 2029	$306	$1,680	$289,785
Nov, 2029	$308	$1,678	$289,478
Dec, 2029	$309	$1,677	$289,169
2029	$3,596	$20,234	$289,169
Jan, 2030	$311	$1,675	$288,857
Feb, 2030	$313	$1,673	$288,545
Mar, 2030	$315	$1,671	$288,230
Apr, 2030	$317	$1,669	$287,913
May, 2030	$318	$1,667	$287,595
Jun, 2030	$320	$1,666	$287,275
Jul, 2030	$322	$1,664	$286,953
Aug, 2030	$324	$1,662	$286,629
Sep, 2030	$326	$1,660	$286,303
Oct, 2030	$328	$1,658	$285,975
Nov, 2030	$330	$1,656	$285,646
Dec, 2030	$331	$1,654	$285,314
2030	$3,854	$19,976	$285,314
Jan, 2031	$333	$1,652	$284,981
Feb, 2031	$335	$1,651	$284,646
Mar, 2031	$337	$1,649	$284,308
Apr, 2031	$339	$1,647	$283,969
May, 2031	$341	$1,645	$283,628
Jun, 2031	$343	$1,643	$283,285
Jul, 2031	$345	$1,641	$282,940
Aug, 2031	$347	$1,639	$282,593
Sep, 2031	$349	$1,637	$282,243
Oct, 2031	$351	$1,635	$281,892
Nov, 2031	$353	$1,633	$281,539
Dec, 2031	$355	$1,631	$281,184
2031	$4,131	$19,699	$281,184
Jan, 2032	$357	$1,629	$280,826
Feb, 2032	$359	$1,626	$280,467
Mar, 2032	$361	$1,624	$280,105
Apr, 2032	$364	$1,622	$279,742
May, 2032	$366	$1,620	$279,376
Jun, 2032	$368	$1,618	$279,008
Jul, 2032	$370	$1,616	$278,639
Aug, 2032	$372	$1,614	$278,266
Sep, 2032	$374	$1,612	$277,892
Oct, 2032	$376	$1,609	$277,516
Nov, 2032	$379	$1,607	$277,137
Dec, 2032	$381	$1,605	$276,757
2032	$4,427	$19,403	$276,757
Jan, 2033	$383	$1,603	$276,374
Feb, 2033	$385	$1,601	$275,988
Mar, 2033	$387	$1,598	$275,601
Apr, 2033	$390	$1,596	$275,211
May, 2033	$392	$1,594	$274,819
Jun, 2033	$394	$1,592	$274,425
Jul, 2033	$396	$1,589	$274,029
Aug, 2033	$399	$1,587	$273,630
Sep, 2033	$401	$1,585	$273,229
Oct, 2033	$403	$1,582	$272,826
Nov, 2033	$406	$1,580	$272,420
Dec, 2033	$408	$1,578	$272,012
2033	$4,745	$19,085	$272,012
Jan, 2034	$410	$1,575	$271,601
Feb, 2034	$413	$1,573	$271,189
Mar, 2034	$415	$1,571	$270,773
Apr, 2034	$418	$1,568	$270,356
May, 2034	$420	$1,566	$269,936
Jun, 2034	$422	$1,563	$269,513
Jul, 2034	$425	$1,561	$269,088
Aug, 2034	$427	$1,558	$268,661
Sep, 2034	$430	$1,556	$268,231
Oct, 2034	$432	$1,554	$267,799
Nov, 2034	$435	$1,551	$267,364
Dec, 2034	$437	$1,548	$266,926
2034	$5,085	$18,745	$266,926
Jan, 2035	$440	$1,546	$266,487
Feb, 2035	$442	$1,543	$266,044
Mar, 2035	$445	$1,541	$265,599
Apr, 2035	$448	$1,538	$265,152
May, 2035	$450	$1,536	$264,701
Jun, 2035	$453	$1,533	$264,249
Jul, 2035	$455	$1,530	$263,793
Aug, 2035	$458	$1,528	$263,335
Sep, 2035	$461	$1,525	$262,874
Oct, 2035	$463	$1,522	$262,411
Nov, 2035	$466	$1,520	$261,945
Dec, 2035	$469	$1,517	$261,476
2035	$5,450	$18,380	$261,476
Jan, 2036	$471	$1,514	$261,005
Feb, 2036	$474	$1,512	$260,531
Mar, 2036	$477	$1,509	$260,054
Apr, 2036	$480	$1,506	$259,574
May, 2036	$482	$1,503	$259,092
Jun, 2036	$485	$1,501	$258,606
Jul, 2036	$488	$1,498	$258,118
Aug, 2036	$491	$1,495	$257,627
Sep, 2036	$494	$1,492	$257,134
Oct, 2036	$497	$1,489	$256,637
Nov, 2036	$499	$1,486	$256,137
Dec, 2036	$502	$1,483	$255,635
2036	$5,841	$17,989	$255,635
Jan, 2037	$505	$1,481	$255,130
Feb, 2037	$508	$1,478	$254,622
Mar, 2037	$511	$1,475	$254,110
Apr, 2037	$514	$1,472	$253,596
May, 2037	$517	$1,469	$253,079
Jun, 2037	$520	$1,466	$252,559
Jul, 2037	$523	$1,463	$252,036
Aug, 2037	$526	$1,460	$251,510
Sep, 2037	$529	$1,457	$250,981
Oct, 2037	$532	$1,454	$250,448
Nov, 2037	$535	$1,451	$249,913
Dec, 2037	$538	$1,447	$249,375
2037	$6,260	$17,570	$249,375
Jan, 2038	$542	$1,444	$248,833
Feb, 2038	$545	$1,441	$248,288
Mar, 2038	$548	$1,438	$247,741
Apr, 2038	$551	$1,435	$247,190
May, 2038	$554	$1,432	$246,635
Jun, 2038	$557	$1,428	$246,078
Jul, 2038	$561	$1,425	$245,517
Aug, 2038	$564	$1,422	$244,953
Sep, 2038	$567	$1,419	$244,386
Oct, 2038	$570	$1,415	$243,816
Nov, 2038	$574	$1,412	$243,242
Dec, 2038	$577	$1,409	$242,665
2038	$6,710	$17,120	$242,665
Jan, 2039	$580	$1,405	$242,085
Feb, 2039	$584	$1,402	$241,501
Mar, 2039	$587	$1,399	$240,914
Apr, 2039	$591	$1,395	$240,323
May, 2039	$594	$1,392	$239,729
Jun, 2039	$597	$1,388	$239,132
Jul, 2039	$601	$1,385	$238,531
Aug, 2039	$604	$1,381	$237,927
Sep, 2039	$608	$1,378	$237,319
Oct, 2039	$611	$1,374	$236,707
Nov, 2039	$615	$1,371	$236,092
Dec, 2039	$618	$1,367	$235,474
2039	$7,191	$16,639	$235,474
Jan, 2040	$622	$1,364	$234,852
Feb, 2040	$626	$1,360	$234,226
Mar, 2040	$629	$1,357	$233,597
Apr, 2040	$633	$1,353	$232,964
May, 2040	$637	$1,349	$232,327
Jun, 2040	$640	$1,346	$231,687
Jul, 2040	$644	$1,342	$231,043
Aug, 2040	$648	$1,338	$230,395
Sep, 2040	$651	$1,334	$229,744
Oct, 2040	$655	$1,331	$229,089
Nov, 2040	$659	$1,327	$228,430
Dec, 2040	$663	$1,323	$227,767
2040	$7,707	$16,123	$227,767
Jan, 2041	$667	$1,319	$227,100
Feb, 2041	$671	$1,315	$226,430
Mar, 2041	$674	$1,311	$225,755
Apr, 2041	$678	$1,307	$225,077
May, 2041	$682	$1,304	$224,394
Jun, 2041	$686	$1,300	$223,708
Jul, 2041	$690	$1,296	$223,018
Aug, 2041	$694	$1,292	$222,324
Sep, 2041	$698	$1,288	$221,626
Oct, 2041	$702	$1,284	$220,923
Nov, 2041	$706	$1,280	$220,217
Dec, 2041	$710	$1,275	$219,507
2041	$8,260	$15,570	$219,507
Jan, 2042	$715	$1,271	$218,792
Feb, 2042	$719	$1,267	$218,073
Mar, 2042	$723	$1,263	$217,351
Apr, 2042	$727	$1,259	$216,624
May, 2042	$731	$1,255	$215,892
Jun, 2042	$735	$1,250	$215,157
Jul, 2042	$740	$1,246	$214,417
Aug, 2042	$744	$1,242	$213,673
Sep, 2042	$748	$1,238	$212,925
Oct, 2042	$753	$1,233	$212,172
Nov, 2042	$757	$1,229	$211,415
Dec, 2042	$761	$1,224	$210,654
2042	$8,853	$14,977	$210,654
Jan, 2043	$766	$1,220	$209,888
Feb, 2043	$770	$1,216	$209,118
Mar, 2043	$775	$1,211	$208,343
Apr, 2043	$779	$1,207	$207,564
May, 2043	$784	$1,202	$206,780
Jun, 2043	$788	$1,198	$205,992
Jul, 2043	$793	$1,193	$205,199
Aug, 2043	$797	$1,188	$204,402
Sep, 2043	$802	$1,184	$203,600
Oct, 2043	$807	$1,179	$202,793
Nov, 2043	$811	$1,175	$201,982
Dec, 2043	$816	$1,170	$201,166
2043	$9,488	$14,342	$201,166
Jan, 2044	$821	$1,165	$200,345
Feb, 2044	$826	$1,160	$199,519
Mar, 2044	$830	$1,156	$198,689
Apr, 2044	$835	$1,151	$197,854
May, 2044	$840	$1,146	$197,014
Jun, 2044	$845	$1,141	$196,169
Jul, 2044	$850	$1,136	$195,319
Aug, 2044	$855	$1,131	$194,465
Sep, 2044	$860	$1,126	$193,605
Oct, 2044	$865	$1,121	$192,741
Nov, 2044	$870	$1,116	$191,871
Dec, 2044	$875	$1,111	$190,997
2044	$10,169	$13,661	$190,997
Jan, 2045	$880	$1,106	$190,117
Feb, 2045	$885	$1,101	$189,232
Mar, 2045	$890	$1,096	$188,342
Apr, 2045	$895	$1,091	$187,447
May, 2045	$900	$1,086	$186,547
Jun, 2045	$905	$1,080	$185,642
Jul, 2045	$911	$1,075	$184,731
Aug, 2045	$916	$1,070	$183,815
Sep, 2045	$921	$1,065	$182,894
Oct, 2045	$927	$1,059	$181,967
Nov, 2045	$932	$1,054	$181,035
Dec, 2045	$937	$1,048	$180,098
2045	$10,899	$12,931	$180,098
Jan, 2046	$943	$1,043	$179,155
Feb, 2046	$948	$1,038	$178,207
Mar, 2046	$954	$1,032	$177,253
Apr, 2046	$959	$1,027	$176,294
May, 2046	$965	$1,021	$175,329
Jun, 2046	$970	$1,015	$174,359
Jul, 2046	$976	$1,010	$173,383
Aug, 2046	$982	$1,004	$172,401
Sep, 2046	$987	$998	$171,414
Oct, 2046	$993	$993	$170,421
Nov, 2046	$999	$987	$169,422
Dec, 2046	$1,005	$981	$168,417
2046	$11,681	$12,149	$168,417
Jan, 2047	$1,010	$975	$167,407
Feb, 2047	$1,016	$970	$166,390
Mar, 2047	$1,022	$964	$165,368
Apr, 2047	$1,028	$958	$164,340
May, 2047	$1,034	$952	$163,306
Jun, 2047	$1,040	$946	$162,266
Jul, 2047	$1,046	$940	$161,220
Aug, 2047	$1,052	$934	$160,168
Sep, 2047	$1,058	$928	$159,110
Oct, 2047	$1,064	$922	$158,045
Nov, 2047	$1,070	$915	$156,975
Dec, 2047	$1,077	$909	$155,898
2047	$12,519	$11,311	$155,898
Jan, 2048	$1,083	$903	$154,815
Feb, 2048	$1,089	$897	$153,726
Mar, 2048	$1,096	$890	$152,631
Apr, 2048	$1,102	$884	$151,529
May, 2048	$1,108	$878	$150,420
Jun, 2048	$1,115	$871	$149,306
Jul, 2048	$1,121	$865	$148,185
Aug, 2048	$1,128	$858	$147,057
Sep, 2048	$1,134	$852	$145,923
Oct, 2048	$1,141	$845	$144,782
Nov, 2048	$1,147	$839	$143,635
Dec, 2048	$1,154	$832	$142,481
2048	$13,417	$10,413	$142,481
Jan, 2049	$1,161	$825	$141,320
Feb, 2049	$1,167	$818	$140,153
Mar, 2049	$1,174	$812	$138,979
Apr, 2049	$1,181	$805	$137,798
May, 2049	$1,188	$798	$136,610
Jun, 2049	$1,195	$791	$135,416
Jul, 2049	$1,202	$784	$134,214
Aug, 2049	$1,209	$777	$133,005
Sep, 2049	$1,216	$770	$131,790
Oct, 2049	$1,223	$763	$130,567
Nov, 2049	$1,230	$756	$129,338
Dec, 2049	$1,237	$749	$128,101
2049	$14,380	$9,450	$128,101
Jan, 2050	$1,244	$742	$126,857
Feb, 2050	$1,251	$735	$125,606
Mar, 2050	$1,258	$727	$124,348
Apr, 2050	$1,266	$720	$123,082
May, 2050	$1,273	$713	$121,809
Jun, 2050	$1,280	$705	$120,529
Jul, 2050	$1,288	$698	$119,241
Aug, 2050	$1,295	$691	$117,945
Sep, 2050	$1,303	$683	$116,643
Oct, 2050	$1,310	$676	$115,332
Nov, 2050	$1,318	$668	$114,015
Dec, 2050	$1,326	$660	$112,689
2050	$15,412	$8,418	$112,689
Jan, 2051	$1,333	$653	$111,356
Feb, 2051	$1,341	$645	$110,015
Mar, 2051	$1,349	$637	$108,666
Apr, 2051	$1,356	$629	$107,310
May, 2051	$1,364	$622	$105,945
Jun, 2051	$1,372	$614	$104,573
Jul, 2051	$1,380	$606	$103,193
Aug, 2051	$1,388	$598	$101,805
Sep, 2051	$1,396	$590	$100,409
Oct, 2051	$1,404	$582	$99,004
Nov, 2051	$1,412	$573	$97,592
Dec, 2051	$1,421	$565	$96,171
2051	$16,518	$7,312	$96,171
Jan, 2052	$1,429	$557	$94,742
Feb, 2052	$1,437	$549	$93,305
Mar, 2052	$1,445	$540	$91,860
Apr, 2052	$1,454	$532	$90,406
May, 2052	$1,462	$524	$88,944
Jun, 2052	$1,471	$515	$87,473
Jul, 2052	$1,479	$507	$85,994
Aug, 2052	$1,488	$498	$84,506
Sep, 2052	$1,496	$489	$83,010
Oct, 2052	$1,505	$481	$81,505
Nov, 2052	$1,514	$472	$79,991
Dec, 2052	$1,523	$463	$78,468
2052	$17,703	$6,127	$78,468
Jan, 2053	$1,531	$454	$76,937
Feb, 2053	$1,540	$446	$75,397
Mar, 2053	$1,549	$437	$73,847
Apr, 2053	$1,558	$428	$72,289
May, 2053	$1,567	$419	$70,722
Jun, 2053	$1,576	$410	$69,146
Jul, 2053	$1,585	$400	$67,560
Aug, 2053	$1,595	$391	$65,966
Sep, 2053	$1,604	$382	$64,362
Oct, 2053	$1,613	$373	$62,749
Nov, 2053	$1,622	$363	$61,127
Dec, 2053	$1,632	$354	$59,495
2053	$18,973	$4,857	$59,495
Jan, 2054	$1,641	$345	$57,854
Feb, 2054	$1,651	$335	$56,203
Mar, 2054	$1,660	$326	$54,542
Apr, 2054	$1,670	$316	$52,872
May, 2054	$1,680	$306	$51,193
Jun, 2054	$1,689	$296	$49,503
Jul, 2054	$1,699	$287	$47,804
Aug, 2054	$1,709	$277	$46,095
Sep, 2054	$1,719	$267	$44,376
Oct, 2054	$1,729	$257	$42,648
Nov, 2054	$1,739	$247	$40,909
Dec, 2054	$1,749	$237	$39,160
2054	$20,335	$3,495	$39,160
Jan, 2055	$1,759	$227	$37,401
Feb, 2055	$1,769	$217	$35,632
Mar, 2055	$1,779	$206	$33,852
Apr, 2055	$1,790	$196	$32,062
May, 2055	$1,800	$186	$30,262
Jun, 2055	$1,811	$175	$28,452
Jul, 2055	$1,821	$165	$26,631
Aug, 2055	$1,832	$154	$24,799
Sep, 2055	$1,842	$144	$22,957
Oct, 2055	$1,853	$133	$21,104
Nov, 2055	$1,864	$122	$19,240
Dec, 2055	$1,874	$111	$17,366
2055	$21,794	$2,036	$17,366
Jan, 2056	$1,885	$101	$15,481
Feb, 2056	$1,896	$90	$13,584
Mar, 2056	$1,907	$79	$11,677
Apr, 2056	$1,918	$68	$9,759
May, 2056	$1,929	$57	$7,830
Jun, 2056	$1,940	$45	$5,889
Jul, 2056	$1,952	$34	$3,937
Aug, 2056	$1,963	$23	$1,974
Sep, 2056	$1,974	$11	$0
2056	$17,366	$507	$0
Totals	$300,000	$414,904

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 6.95 percent, a $300,000 mortgage costs about $1,986 a month in principal and interest. Over a 15-year term at 6.26 percent the payment rises to roughly $2,574. 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 6.95 percent costs about $414,904 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.26 percent cuts that to roughly $163,303, a saving of about $251,601, 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 $1,986 payment for a $300,000 mortgage implies an income of roughly $85,108 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.