$230,000 mortgage payment
- Principal & interest
- $1,454
- Property tax & insurance (est.)
- $347
- Loan amount
- $230,000
- Total interest over 30 years
- $293,352
$230k mortgage payment by interest rate
Monthly principal and interest for a $230,000 loan. Rates change daily — find the row closest to your quote.
| Rate | 15-year | 20-year | 30-year | 30-yr total interest |
|---|---|---|---|---|
| 5.00% | $1,819 | $1,518 | $1,235 | $214,488 |
| 5.25% | $1,849 | $1,550 | $1,270 | $227,225 |
| 5.50% | $1,879 | $1,582 | $1,306 | $240,129 |
| 5.75% | $1,910 | $1,615 | $1,342 | $253,198 |
| 6.00% | $1,941 | $1,648 | $1,379 | $266,428 |
| 6.25% | $1,972 | $1,681 | $1,416 | $279,814 |
| 6.50% | $2,004 | $1,715 | $1,454 | $293,352 |
| 6.75% | $2,035 | $1,749 | $1,492 | $307,039 |
| 7.00% | $2,067 | $1,783 | $1,530 | $320,870 |
| 7.25% | $2,100 | $1,818 | $1,569 | $334,842 |
| 7.50% | $2,132 | $1,853 | $1,608 | $348,950 |
| 7.75% | $2,165 | $1,888 | $1,648 | $363,189 |
| 8.00% | $2,198 | $1,924 | $1,688 | $377,557 |
Amortization schedule (30 years at 6.5%)
Early payments are mostly interest. You will have paid off half of the $230,000 balance after 22 years.
| Year | Interest paid | Principal paid | Remaining balance |
|---|---|---|---|
| Year 1 | $14,874 | $2,571 | $227,429 |
| Year 2 | $14,702 | $2,743 | $224,686 |
| Year 3 | $14,518 | $2,927 | $221,760 |
| Year 4 | $14,322 | $3,123 | $218,637 |
| Year 5 | $14,113 | $3,332 | $215,305 |
| Year 10 | $12,838 | $4,607 | $194,985 |
| Year 15 | $11,074 | $6,371 | $166,886 |
| Year 20 | $8,635 | $8,810 | $128,030 |
| Year 25 | $5,263 | $12,182 | $74,300 |
| Year 30 | $599 | $16,846 | $0 |
Frequently asked questions
What is the monthly payment on a $230,000 mortgage?
At 6.5% fixed, principal and interest is $1,454 per month on a 30-year loan and $2,004 on a 15-year loan. Adding estimated property tax and insurance ($347/month for a $287,500 home) brings the 30-year total to about $1,801.
How much income do I need for a $230,000 mortgage?
Using the common 28% rule (housing costs at most 28% of gross monthly income) and assuming 20% down, you would need roughly $77,000 per year at 6.5%. Other monthly debts lower the amount a lender will approve.
How much interest will I pay on a $230,000 loan?
Over 30 years at 6.5% you would pay $293,352 in interest — 128% of the amount borrowed. A 15-year term cuts that to $130,638, saving $162,714.
What happens if I pay an extra $200 per month?
On a 30-year loan at 6.5%, an extra $200 toward principal every month pays the mortgage off in 21 years 8 months and saves about $94,847 in interest.
Compare nearby loan amounts
Estimates assume a fixed rate, 1.1% annual property tax and 0.35% annual homeowners insurance on a home priced with 20% down. Your lender's figures will differ. This page is for education, not financial advice. Methodology.