$280,000 mortgage payment
- Principal & interest
- $1,770
- Property tax & insurance (est.)
- $423
- Loan amount
- $280,000
- Total interest over 30 years
- $357,125
$280k mortgage payment by interest rate
Monthly principal and interest for a $280,000 loan. Rates change daily — find the row closest to your quote.
| Rate | 15-year | 20-year | 30-year | 30-yr total interest |
|---|---|---|---|---|
| 5.00% | $2,214 | $1,848 | $1,503 | $261,116 |
| 5.25% | $2,251 | $1,887 | $1,546 | $276,621 |
| 5.50% | $2,288 | $1,926 | $1,590 | $292,331 |
| 5.75% | $2,325 | $1,966 | $1,634 | $308,241 |
| 6.00% | $2,363 | $2,006 | $1,679 | $324,347 |
| 6.25% | $2,401 | $2,047 | $1,724 | $340,643 |
| 6.50% | $2,439 | $2,088 | $1,770 | $357,125 |
| 6.75% | $2,478 | $2,129 | $1,816 | $373,787 |
| 7.00% | $2,517 | $2,171 | $1,863 | $390,625 |
| 7.25% | $2,556 | $2,213 | $1,910 | $407,634 |
| 7.50% | $2,596 | $2,256 | $1,958 | $424,808 |
| 7.75% | $2,636 | $2,299 | $2,006 | $442,144 |
| 8.00% | $2,676 | $2,342 | $2,055 | $459,635 |
Amortization schedule (30 years at 6.5%)
Early payments are mostly interest. You will have paid off half of the $280,000 balance after 22 years.
| Year | Interest paid | Principal paid | Remaining balance |
|---|---|---|---|
| Year 1 | $18,108 | $3,130 | $276,870 |
| Year 2 | $17,898 | $3,339 | $273,531 |
| Year 3 | $17,675 | $3,563 | $269,968 |
| Year 4 | $17,436 | $3,801 | $266,167 |
| Year 5 | $17,181 | $4,056 | $262,111 |
| Year 10 | $15,629 | $5,609 | $237,373 |
| Year 15 | $13,482 | $7,756 | $203,166 |
| Year 20 | $10,512 | $10,725 | $155,863 |
| Year 25 | $6,407 | $14,831 | $90,452 |
| Year 30 | $729 | $20,508 | $0 |
Frequently asked questions
What is the monthly payment on a $280,000 mortgage?
At 6.5% fixed, principal and interest is $1,770 per month on a 30-year loan and $2,439 on a 15-year loan. Adding estimated property tax and insurance ($423/month for a $350,000 home) brings the 30-year total to about $2,193.
How much income do I need for a $280,000 mortgage?
Using the common 28% rule (housing costs at most 28% of gross monthly income) and assuming 20% down, you would need roughly $94,000 per year at 6.5%. Other monthly debts lower the amount a lender will approve.
How much interest will I pay on a $280,000 loan?
Over 30 years at 6.5% you would pay $357,125 in interest — 128% of the amount borrowed. A 15-year term cuts that to $159,038, saving $198,086.
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 22 years 9 months and saves about $101,283 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.