$300,000 mortgage payment
- Principal & interest
- $1,896
- Property tax & insurance (est.)
- $453
- Loan amount
- $300,000
- Total interest over 30 years
- $382,633
$300k mortgage payment by interest rate
Monthly principal and interest for a $300,000 loan. Rates change daily — find the row closest to your quote.
| Rate | 15-year | 20-year | 30-year | 30-yr total interest |
|---|---|---|---|---|
| 5.00% | $2,372 | $1,980 | $1,610 | $279,767 |
| 5.25% | $2,412 | $2,022 | $1,657 | $296,380 |
| 5.50% | $2,451 | $2,064 | $1,703 | $313,212 |
| 5.75% | $2,491 | $2,106 | $1,751 | $330,259 |
| 6.00% | $2,532 | $2,149 | $1,799 | $347,515 |
| 6.25% | $2,572 | $2,193 | $1,847 | $364,975 |
| 6.50% | $2,613 | $2,237 | $1,896 | $382,633 |
| 6.75% | $2,655 | $2,281 | $1,946 | $400,486 |
| 7.00% | $2,696 | $2,326 | $1,996 | $418,527 |
| 7.25% | $2,739 | $2,371 | $2,047 | $436,750 |
| 7.50% | $2,781 | $2,417 | $2,098 | $455,152 |
| 7.75% | $2,824 | $2,463 | $2,149 | $473,725 |
| 8.00% | $2,867 | $2,509 | $2,201 | $492,466 |
Amortization schedule (30 years at 6.5%)
Early payments are mostly interest. You will have paid off half of the $300,000 balance after 22 years.
| Year | Interest paid | Principal paid | Remaining balance |
|---|---|---|---|
| Year 1 | $19,401 | $3,353 | $296,647 |
| Year 2 | $19,177 | $3,578 | $293,069 |
| Year 3 | $18,937 | $3,817 | $289,252 |
| Year 4 | $18,681 | $4,073 | $285,179 |
| Year 5 | $18,409 | $4,346 | $280,833 |
| Year 10 | $16,745 | $6,009 | $254,328 |
| Year 15 | $14,445 | $8,310 | $217,677 |
| Year 20 | $11,263 | $11,491 | $166,996 |
| Year 25 | $6,864 | $15,890 | $96,912 |
| Year 30 | $781 | $21,973 | $0 |
Frequently asked questions
What is the monthly payment on a $300,000 mortgage?
At 6.5% fixed, principal and interest is $1,896 per month on a 30-year loan and $2,613 on a 15-year loan. Adding estimated property tax and insurance ($453/month for a $375,000 home) brings the 30-year total to about $2,349.
How much income do I need for a $300,000 mortgage?
Using the common 28% rule (housing costs at most 28% of gross monthly income) and assuming 20% down, you would need roughly $101,000 per year at 6.5%. Other monthly debts lower the amount a lender will approve.
How much interest will I pay on a $300,000 loan?
Over 30 years at 6.5% you would pay $382,633 in interest — 128% of the amount borrowed. A 15-year term cuts that to $170,398, saving $212,235.
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 23 years 1 months and saves about $103,449 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.