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

At the current 30-year fixed average of 7.18 percent, a $300,000 mortgage costs about $2,032 a month in principal and interest. Over a 15-year term at 6.57 percent the payment rises to roughly $2,625. 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 7.18 percent costs about $431,630 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.57 percent cuts that to roughly $172,478, a saving of about $259,151, 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 $2,032 payment for a $300,000 mortgage implies an income of roughly $87,099 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

$2,032

Monthly payment

$731,630

Total of 360 payments

Nov, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $431,630

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 7.18%: $431,630
Total interest, 15 years at 6.57%: $172,478
Income implied by the 28% rule: $87,099
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $259,151 in interest, at the cost of a higher monthly payment ($2,625 instead of $2,032). 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
Dec, 2026	$237	$1,795	$299,763
2026	$237	$1,795	$299,763
Jan, 2027	$239	$1,794	$299,524
Feb, 2027	$240	$1,792	$299,284
Mar, 2027	$242	$1,791	$299,042
Apr, 2027	$243	$1,789	$298,799
May, 2027	$244	$1,788	$298,555
Jun, 2027	$246	$1,786	$298,309
Jul, 2027	$247	$1,785	$298,061
Aug, 2027	$249	$1,783	$297,812
Sep, 2027	$250	$1,782	$297,562
Oct, 2027	$252	$1,780	$297,310
Nov, 2027	$253	$1,779	$297,057
Dec, 2027	$255	$1,777	$296,802
2027	$2,961	$21,427	$296,802
Jan, 2028	$256	$1,776	$296,545
Feb, 2028	$258	$1,774	$296,287
Mar, 2028	$260	$1,773	$296,028
Apr, 2028	$261	$1,771	$295,767
May, 2028	$263	$1,770	$295,504
Jun, 2028	$264	$1,768	$295,240
Jul, 2028	$266	$1,767	$294,974
Aug, 2028	$267	$1,765	$294,707
Sep, 2028	$269	$1,763	$294,438
Oct, 2028	$271	$1,762	$294,167
Nov, 2028	$272	$1,760	$293,895
Dec, 2028	$274	$1,758	$293,621
2028	$3,181	$21,207	$293,621
Jan, 2029	$275	$1,757	$293,346
Feb, 2029	$277	$1,755	$293,069
Mar, 2029	$279	$1,754	$292,790
Apr, 2029	$280	$1,752	$292,509
May, 2029	$282	$1,750	$292,227
Jun, 2029	$284	$1,748	$291,943
Jul, 2029	$286	$1,747	$291,658
Aug, 2029	$287	$1,745	$291,371
Sep, 2029	$289	$1,743	$291,082
Oct, 2029	$291	$1,742	$290,791
Nov, 2029	$292	$1,740	$290,499
Dec, 2029	$294	$1,738	$290,205
2029	$3,417	$20,971	$290,205
Jan, 2030	$296	$1,736	$289,909
Feb, 2030	$298	$1,735	$289,611
Mar, 2030	$299	$1,733	$289,312
Apr, 2030	$301	$1,731	$289,010
May, 2030	$303	$1,729	$288,707
Jun, 2030	$305	$1,727	$288,402
Jul, 2030	$307	$1,726	$288,096
Aug, 2030	$309	$1,724	$287,787
Sep, 2030	$310	$1,722	$287,477
Oct, 2030	$312	$1,720	$287,164
Nov, 2030	$314	$1,718	$286,850
Dec, 2030	$316	$1,716	$286,534
2030	$3,670	$20,717	$286,534
Jan, 2031	$318	$1,714	$286,217
Feb, 2031	$320	$1,713	$285,897
Mar, 2031	$322	$1,711	$285,575
Apr, 2031	$324	$1,709	$285,251
May, 2031	$326	$1,707	$284,926
Jun, 2031	$327	$1,705	$284,598
Jul, 2031	$329	$1,703	$284,269
Aug, 2031	$331	$1,701	$283,938
Sep, 2031	$333	$1,699	$283,604
Oct, 2031	$335	$1,697	$283,269
Nov, 2031	$337	$1,695	$282,931
Dec, 2031	$339	$1,693	$282,592
2031	$3,943	$20,445	$282,592
Jan, 2032	$341	$1,691	$282,250
Feb, 2032	$344	$1,689	$281,907
Mar, 2032	$346	$1,687	$281,561
Apr, 2032	$348	$1,685	$281,214
May, 2032	$350	$1,683	$280,864
Jun, 2032	$352	$1,681	$280,512
Jul, 2032	$354	$1,678	$280,158
Aug, 2032	$356	$1,676	$279,802
Sep, 2032	$358	$1,674	$279,444
Oct, 2032	$360	$1,672	$279,084
Nov, 2032	$362	$1,670	$278,721
Dec, 2032	$365	$1,668	$278,357
2032	$4,235	$20,153	$278,357
Jan, 2033	$367	$1,666	$277,990
Feb, 2033	$369	$1,663	$277,621
Mar, 2033	$371	$1,661	$277,250
Apr, 2033	$373	$1,659	$276,876
May, 2033	$376	$1,657	$276,501
Jun, 2033	$378	$1,654	$276,123
Jul, 2033	$380	$1,652	$275,743
Aug, 2033	$382	$1,650	$275,360
Sep, 2033	$385	$1,648	$274,975
Oct, 2033	$387	$1,645	$274,588
Nov, 2033	$389	$1,643	$274,199
Dec, 2033	$392	$1,641	$273,807
2033	$4,549	$19,838	$273,807
Jan, 2034	$394	$1,638	$273,413
Feb, 2034	$396	$1,636	$273,017
Mar, 2034	$399	$1,634	$272,618
Apr, 2034	$401	$1,631	$272,217
May, 2034	$404	$1,629	$271,813
Jun, 2034	$406	$1,626	$271,408
Jul, 2034	$408	$1,624	$270,999
Aug, 2034	$411	$1,621	$270,588
Sep, 2034	$413	$1,619	$270,175
Oct, 2034	$416	$1,617	$269,759
Nov, 2034	$418	$1,614	$269,341
Dec, 2034	$421	$1,612	$268,920
2034	$4,887	$19,501	$268,920
Jan, 2035	$423	$1,609	$268,497
Feb, 2035	$426	$1,607	$268,071
Mar, 2035	$428	$1,604	$267,643
Apr, 2035	$431	$1,601	$267,212
May, 2035	$433	$1,599	$266,778
Jun, 2035	$436	$1,596	$266,342
Jul, 2035	$439	$1,594	$265,904
Aug, 2035	$441	$1,591	$265,462
Sep, 2035	$444	$1,588	$265,018
Oct, 2035	$447	$1,586	$264,572
Nov, 2035	$449	$1,583	$264,123
Dec, 2035	$452	$1,580	$263,671
2035	$5,250	$19,138	$263,671
Jan, 2036	$455	$1,578	$263,216
Feb, 2036	$457	$1,575	$262,759
Mar, 2036	$460	$1,572	$262,298
Apr, 2036	$463	$1,569	$261,835
May, 2036	$466	$1,567	$261,370
Jun, 2036	$468	$1,564	$260,901
Jul, 2036	$471	$1,561	$260,430
Aug, 2036	$474	$1,558	$259,956
Sep, 2036	$477	$1,555	$259,479
Oct, 2036	$480	$1,553	$258,999
Nov, 2036	$483	$1,550	$258,517
Dec, 2036	$486	$1,547	$258,031
2036	$5,639	$18,748	$258,031
Jan, 2037	$488	$1,544	$257,543
Feb, 2037	$491	$1,541	$257,052
Mar, 2037	$494	$1,538	$256,557
Apr, 2037	$497	$1,535	$256,060
May, 2037	$500	$1,532	$255,560
Jun, 2037	$503	$1,529	$255,057
Jul, 2037	$506	$1,526	$254,550
Aug, 2037	$509	$1,523	$254,041
Sep, 2037	$512	$1,520	$253,529
Oct, 2037	$515	$1,517	$253,013
Nov, 2037	$518	$1,514	$252,495
Dec, 2037	$522	$1,511	$251,974
2037	$6,058	$18,330	$251,974
Jan, 2038	$525	$1,508	$251,449
Feb, 2038	$528	$1,505	$250,921
Mar, 2038	$531	$1,501	$250,390
Apr, 2038	$534	$1,498	$249,856
May, 2038	$537	$1,495	$249,319
Jun, 2038	$541	$1,492	$248,778
Jul, 2038	$544	$1,489	$248,234
Aug, 2038	$547	$1,485	$247,687
Sep, 2038	$550	$1,482	$247,137
Oct, 2038	$554	$1,479	$246,583
Nov, 2038	$557	$1,475	$246,026
Dec, 2038	$560	$1,472	$245,466
2038	$6,507	$17,880	$245,466
Jan, 2039	$564	$1,469	$244,903
Feb, 2039	$567	$1,465	$244,336
Mar, 2039	$570	$1,462	$243,765
Apr, 2039	$574	$1,459	$243,191
May, 2039	$577	$1,455	$242,614
Jun, 2039	$581	$1,452	$242,034
Jul, 2039	$584	$1,448	$241,449
Aug, 2039	$588	$1,445	$240,862
Sep, 2039	$591	$1,441	$240,271
Oct, 2039	$595	$1,438	$239,676
Nov, 2039	$598	$1,434	$239,078
Dec, 2039	$602	$1,430	$238,476
2039	$6,990	$17,397	$238,476
Jan, 2040	$605	$1,427	$237,871
Feb, 2040	$609	$1,423	$237,261
Mar, 2040	$613	$1,420	$236,649
Apr, 2040	$616	$1,416	$236,032
May, 2040	$620	$1,412	$235,412
Jun, 2040	$624	$1,409	$234,789
Jul, 2040	$627	$1,405	$234,161
Aug, 2040	$631	$1,401	$233,530
Sep, 2040	$635	$1,397	$232,895
Oct, 2040	$639	$1,393	$232,256
Nov, 2040	$643	$1,390	$231,613
Dec, 2040	$646	$1,386	$230,967
2040	$7,509	$16,879	$230,967
Jan, 2041	$650	$1,382	$230,317
Feb, 2041	$654	$1,378	$229,662
Mar, 2041	$658	$1,374	$229,004
Apr, 2041	$662	$1,370	$228,342
May, 2041	$666	$1,366	$227,676
Jun, 2041	$670	$1,362	$227,006
Jul, 2041	$674	$1,358	$226,332
Aug, 2041	$678	$1,354	$225,654
Sep, 2041	$682	$1,350	$224,972
Oct, 2041	$686	$1,346	$224,285
Nov, 2041	$690	$1,342	$223,595
Dec, 2041	$694	$1,338	$222,901
2041	$8,066	$16,321	$222,901
Jan, 2042	$699	$1,334	$222,202
Feb, 2042	$703	$1,330	$221,499
Mar, 2042	$707	$1,325	$220,792
Apr, 2042	$711	$1,321	$220,081
May, 2042	$715	$1,317	$219,366
Jun, 2042	$720	$1,313	$218,646
Jul, 2042	$724	$1,308	$217,922
Aug, 2042	$728	$1,304	$217,193
Sep, 2042	$733	$1,300	$216,461
Oct, 2042	$737	$1,295	$215,723
Nov, 2042	$742	$1,291	$214,982
Dec, 2042	$746	$1,286	$214,236
2042	$8,665	$15,723	$214,236
Jan, 2043	$750	$1,282	$213,485
Feb, 2043	$755	$1,277	$212,730
Mar, 2043	$759	$1,273	$211,971
Apr, 2043	$764	$1,268	$211,207
May, 2043	$769	$1,264	$210,438
Jun, 2043	$773	$1,259	$209,665
Jul, 2043	$778	$1,254	$208,887
Aug, 2043	$782	$1,250	$208,105
Sep, 2043	$787	$1,245	$207,318
Oct, 2043	$792	$1,240	$206,526
Nov, 2043	$797	$1,236	$205,729
Dec, 2043	$801	$1,231	$204,928
2043	$9,308	$15,080	$204,928
Jan, 2044	$806	$1,226	$204,122
Feb, 2044	$811	$1,221	$203,311
Mar, 2044	$816	$1,216	$202,495
Apr, 2044	$821	$1,212	$201,674
May, 2044	$826	$1,207	$200,849
Jun, 2044	$831	$1,202	$200,018
Jul, 2044	$836	$1,197	$199,183
Aug, 2044	$841	$1,192	$198,342
Sep, 2044	$846	$1,187	$197,497
Oct, 2044	$851	$1,182	$196,646
Nov, 2044	$856	$1,177	$195,790
Dec, 2044	$861	$1,171	$194,929
2044	$9,999	$14,389	$194,929
Jan, 2045	$866	$1,166	$194,063
Feb, 2045	$871	$1,161	$193,192
Mar, 2045	$876	$1,156	$192,316
Apr, 2045	$882	$1,151	$191,434
May, 2045	$887	$1,145	$190,547
Jun, 2045	$892	$1,140	$189,655
Jul, 2045	$898	$1,135	$188,758
Aug, 2045	$903	$1,129	$187,855
Sep, 2045	$908	$1,124	$186,946
Oct, 2045	$914	$1,119	$186,033
Nov, 2045	$919	$1,113	$185,113
Dec, 2045	$925	$1,108	$184,189
2045	$10,741	$13,647	$184,189
Jan, 2046	$930	$1,102	$183,259
Feb, 2046	$936	$1,096	$182,323
Mar, 2046	$941	$1,091	$181,381
Apr, 2046	$947	$1,085	$180,434
May, 2046	$953	$1,080	$179,482
Jun, 2046	$958	$1,074	$178,523
Jul, 2046	$964	$1,068	$177,559
Aug, 2046	$970	$1,062	$176,589
Sep, 2046	$976	$1,057	$175,613
Oct, 2046	$982	$1,051	$174,632
Nov, 2046	$987	$1,045	$173,644
Dec, 2046	$993	$1,039	$172,651
2046	$11,538	$12,850	$172,651
Jan, 2047	$999	$1,033	$171,652
Feb, 2047	$1,005	$1,027	$170,647
Mar, 2047	$1,011	$1,021	$169,635
Apr, 2047	$1,017	$1,015	$168,618
May, 2047	$1,023	$1,009	$167,595
Jun, 2047	$1,030	$1,003	$166,565
Jul, 2047	$1,036	$997	$165,529
Aug, 2047	$1,042	$990	$164,487
Sep, 2047	$1,048	$984	$163,439
Oct, 2047	$1,054	$978	$162,385
Nov, 2047	$1,061	$972	$161,324
Dec, 2047	$1,067	$965	$160,257
2047	$12,394	$11,994	$160,257
Jan, 2048	$1,073	$959	$159,184
Feb, 2048	$1,080	$952	$158,104
Mar, 2048	$1,086	$946	$157,018
Apr, 2048	$1,093	$939	$155,925
May, 2048	$1,099	$933	$154,825
Jun, 2048	$1,106	$926	$153,719
Jul, 2048	$1,113	$920	$152,607
Aug, 2048	$1,119	$913	$151,488
Sep, 2048	$1,126	$906	$150,362
Oct, 2048	$1,133	$900	$149,229
Nov, 2048	$1,139	$893	$148,090
Dec, 2048	$1,146	$886	$146,944
2048	$13,314	$11,074	$146,944
Jan, 2049	$1,153	$879	$145,790
Feb, 2049	$1,160	$872	$144,630
Mar, 2049	$1,167	$865	$143,463
Apr, 2049	$1,174	$858	$142,290
May, 2049	$1,181	$851	$141,109
Jun, 2049	$1,188	$844	$139,921
Jul, 2049	$1,195	$837	$138,726
Aug, 2049	$1,202	$830	$137,523
Sep, 2049	$1,209	$823	$136,314
Oct, 2049	$1,217	$816	$135,097
Nov, 2049	$1,224	$808	$133,873
Dec, 2049	$1,231	$801	$132,642
2049	$14,302	$10,086	$132,642
Jan, 2050	$1,239	$794	$131,403
Feb, 2050	$1,246	$786	$130,157
Mar, 2050	$1,254	$779	$128,904
Apr, 2050	$1,261	$771	$127,643
May, 2050	$1,269	$764	$126,374
Jun, 2050	$1,276	$756	$125,098
Jul, 2050	$1,284	$749	$123,814
Aug, 2050	$1,291	$741	$122,523
Sep, 2050	$1,299	$733	$121,223
Oct, 2050	$1,307	$725	$119,916
Nov, 2050	$1,315	$717	$118,602
Dec, 2050	$1,323	$710	$117,279
2050	$15,363	$9,025	$117,279
Jan, 2051	$1,331	$702	$115,948
Feb, 2051	$1,339	$694	$114,610
Mar, 2051	$1,347	$686	$113,263
Apr, 2051	$1,355	$678	$111,909
May, 2051	$1,363	$670	$110,546
Jun, 2051	$1,371	$661	$109,175
Jul, 2051	$1,379	$653	$107,796
Aug, 2051	$1,387	$645	$106,409
Sep, 2051	$1,396	$637	$105,013
Oct, 2051	$1,404	$628	$103,609
Nov, 2051	$1,412	$620	$102,197
Dec, 2051	$1,421	$611	$100,776
2051	$16,503	$7,885	$100,776
Jan, 2052	$1,429	$603	$99,346
Feb, 2052	$1,438	$594	$97,909
Mar, 2052	$1,446	$586	$96,462
Apr, 2052	$1,455	$577	$95,007
May, 2052	$1,464	$568	$93,543
Jun, 2052	$1,473	$560	$92,070
Jul, 2052	$1,481	$551	$90,589
Aug, 2052	$1,490	$542	$89,099
Sep, 2052	$1,499	$533	$87,600
Oct, 2052	$1,508	$524	$86,091
Nov, 2052	$1,517	$515	$84,574
Dec, 2052	$1,526	$506	$83,048
2052	$17,728	$6,660	$83,048
Jan, 2053	$1,535	$497	$81,513
Feb, 2053	$1,545	$488	$79,968
Mar, 2053	$1,554	$478	$78,414
Apr, 2053	$1,563	$469	$76,851
May, 2053	$1,572	$460	$75,278
Jun, 2053	$1,582	$450	$73,697
Jul, 2053	$1,591	$441	$72,105
Aug, 2053	$1,601	$431	$70,504
Sep, 2053	$1,610	$422	$68,894
Oct, 2053	$1,620	$412	$67,274
Nov, 2053	$1,630	$403	$65,644
Dec, 2053	$1,640	$393	$64,005
2053	$19,043	$5,344	$64,005
Jan, 2054	$1,649	$383	$62,355
Feb, 2054	$1,659	$373	$60,696
Mar, 2054	$1,669	$363	$59,027
Apr, 2054	$1,679	$353	$57,348
May, 2054	$1,689	$343	$55,659
Jun, 2054	$1,699	$333	$53,959
Jul, 2054	$1,709	$323	$52,250
Aug, 2054	$1,720	$313	$50,530
Sep, 2054	$1,730	$302	$48,800
Oct, 2054	$1,740	$292	$47,060
Nov, 2054	$1,751	$282	$45,309
Dec, 2054	$1,761	$271	$43,548
2054	$20,457	$3,931	$43,548
Jan, 2055	$1,772	$261	$41,776
Feb, 2055	$1,782	$250	$39,994
Mar, 2055	$1,793	$239	$38,201
Apr, 2055	$1,804	$229	$36,397
May, 2055	$1,815	$218	$34,583
Jun, 2055	$1,825	$207	$32,757
Jul, 2055	$1,836	$196	$30,921
Aug, 2055	$1,847	$185	$29,074
Sep, 2055	$1,858	$174	$27,215
Oct, 2055	$1,869	$163	$25,346
Nov, 2055	$1,881	$152	$23,465
Dec, 2055	$1,892	$140	$21,573
2055	$21,975	$2,413	$21,573
Jan, 2056	$1,903	$129	$19,670
Feb, 2056	$1,915	$118	$17,755
Mar, 2056	$1,926	$106	$15,829
Apr, 2056	$1,938	$95	$13,892
May, 2056	$1,949	$83	$11,942
Jun, 2056	$1,961	$71	$9,982
Jul, 2056	$1,973	$60	$8,009
Aug, 2056	$1,984	$48	$6,025
Sep, 2056	$1,996	$36	$4,028
Oct, 2056	$2,008	$24	$2,020
Nov, 2056	$2,020	$12	$0
2056	$21,573	$782	$0
Totals	$300,000	$431,630

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 7.18 percent, a $300,000 mortgage costs about $2,032 a month in principal and interest. Over a 15-year term at 6.57 percent the payment rises to roughly $2,625. 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 7.18 percent costs about $431,630 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.57 percent cuts that to roughly $172,478, a saving of about $259,151, 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 $2,032 payment for a $300,000 mortgage implies an income of roughly $87,099 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.