$340,000 mortgage payment
- Principal & interest
- $2,149
- Property tax & insurance (est.)
- $514
- Loan amount
- $340,000
- Total interest over 30 years
- $433,651
$340k mortgage payment by interest rate
Monthly principal and interest for a $340,000 loan. Rates change daily — find the row closest to your quote.
| Rate | 15-year | 20-year | 30-year | 30-yr total interest |
|---|---|---|---|---|
| 5.00% | $2,689 | $2,244 | $1,825 | $317,070 |
| 5.25% | $2,733 | $2,291 | $1,877 | $335,897 |
| 5.50% | $2,778 | $2,339 | $1,930 | $354,974 |
| 5.75% | $2,823 | $2,387 | $1,984 | $374,293 |
| 6.00% | $2,869 | $2,436 | $2,038 | $393,850 |
| 6.25% | $2,915 | $2,485 | $2,093 | $413,638 |
| 6.50% | $2,962 | $2,535 | $2,149 | $433,651 |
| 6.75% | $3,009 | $2,585 | $2,205 | $453,884 |
| 7.00% | $3,056 | $2,636 | $2,262 | $474,330 |
| 7.25% | $3,104 | $2,687 | $2,319 | $494,984 |
| 7.50% | $3,152 | $2,739 | $2,377 | $515,839 |
| 7.75% | $3,200 | $2,791 | $2,436 | $536,889 |
| 8.00% | $3,249 | $2,844 | $2,495 | $558,128 |
Amortization schedule (30 years at 6.5%)
Early payments are mostly interest. You will have paid off half of the $340,000 balance after 22 years.
| Year | Interest paid | Principal paid | Remaining balance |
|---|---|---|---|
| Year 1 | $21,988 | $3,800 | $336,200 |
| Year 2 | $21,734 | $4,055 | $332,145 |
| Year 3 | $21,462 | $4,326 | $327,819 |
| Year 4 | $21,172 | $4,616 | $323,203 |
| Year 5 | $20,863 | $4,925 | $318,277 |
| Year 10 | $18,978 | $6,811 | $288,239 |
| Year 15 | $16,370 | $9,418 | $246,701 |
| Year 20 | $12,765 | $13,023 | $189,262 |
| Year 25 | $7,780 | $18,009 | $109,834 |
| Year 30 | $885 | $24,903 | $0 |
Frequently asked questions
What is the monthly payment on a $340,000 mortgage?
At 6.5% fixed, principal and interest is $2,149 per month on a 30-year loan and $2,962 on a 15-year loan. Adding estimated property tax and insurance ($514/month for a $425,000 home) brings the 30-year total to about $2,663.
How much income do I need for a $340,000 mortgage?
Using the common 28% rule (housing costs at most 28% of gross monthly income) and assuming 20% down, you would need roughly $114,000 per year at 6.5%. Other monthly debts lower the amount a lender will approve.
How much interest will I pay on a $340,000 loan?
Over 30 years at 6.5% you would pay $433,651 in interest — 128% of the amount borrowed. A 15-year term cuts that to $193,118, saving $240,534.
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 8 months and saves about $107,244 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.