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

At the current 30-year fixed average of 6.76 percent, a $300,000 mortgage costs about $1,948 a month in principal and interest. Over a 15-year term at 6.09 percent the payment rises to roughly $2,546. 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 6.76 percent costs about $401,204 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.09 percent cuts that to roughly $158,313, a saving of about $242,891, 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 $1,948 payment for a $300,000 mortgage implies an income of roughly $83,477 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 $50 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

$1,948

Monthly payment

$701,204

Total of 360 payments

Sep, 2056

Loan payoff date

Loan balance over time

Balance Principal paid $300,000 Interest paid $401,204

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 6.76%: $401,204
Total interest, 15 years at 6.09%: $158,313
Income implied by the 28% rule: $83,477
Purchase price with 20% down: $375,000

Switching from a 30-year to a 15-year term on $300,000 saves about $242,891 in interest, at the cost of a higher monthly payment ($2,546 instead of $1,948). 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
Oct, 2026	$258	$1,690	$299,742
Nov, 2026	$259	$1,689	$299,483
Dec, 2026	$261	$1,687	$299,222
2026	$778	$5,066	$299,222
Jan, 2027	$262	$1,686	$298,960
Feb, 2027	$264	$1,684	$298,696
Mar, 2027	$265	$1,683	$298,431
Apr, 2027	$267	$1,681	$298,165
May, 2027	$268	$1,680	$297,897
Jun, 2027	$270	$1,678	$297,627
Jul, 2027	$271	$1,677	$297,356
Aug, 2027	$273	$1,675	$297,083
Sep, 2027	$274	$1,674	$296,809
Oct, 2027	$276	$1,672	$296,533
Nov, 2027	$277	$1,670	$296,256
Dec, 2027	$279	$1,669	$295,977
2027	$3,245	$20,128	$295,977
Jan, 2028	$280	$1,667	$295,696
Feb, 2028	$282	$1,666	$295,414
Mar, 2028	$284	$1,664	$295,131
Apr, 2028	$285	$1,663	$294,846
May, 2028	$287	$1,661	$294,559
Jun, 2028	$288	$1,659	$294,270
Jul, 2028	$290	$1,658	$293,980
Aug, 2028	$292	$1,656	$293,689
Sep, 2028	$293	$1,654	$293,395
Oct, 2028	$295	$1,653	$293,100
Nov, 2028	$297	$1,651	$292,804
Dec, 2028	$298	$1,649	$292,505
2028	$3,472	$19,902	$292,505
Jan, 2029	$300	$1,648	$292,205
Feb, 2029	$302	$1,646	$291,904
Mar, 2029	$303	$1,644	$291,600
Apr, 2029	$305	$1,643	$291,295
May, 2029	$307	$1,641	$290,988
Jun, 2029	$309	$1,639	$290,680
Jul, 2029	$310	$1,637	$290,369
Aug, 2029	$312	$1,636	$290,057
Sep, 2029	$314	$1,634	$289,743
Oct, 2029	$316	$1,632	$289,428
Nov, 2029	$317	$1,630	$289,111
Dec, 2029	$319	$1,629	$288,791
2029	$3,714	$19,660	$288,791
Jan, 2030	$321	$1,627	$288,471
Feb, 2030	$323	$1,625	$288,148
Mar, 2030	$325	$1,623	$287,823
Apr, 2030	$326	$1,621	$287,497
May, 2030	$328	$1,620	$287,169
Jun, 2030	$330	$1,618	$286,839
Jul, 2030	$332	$1,616	$286,507
Aug, 2030	$334	$1,614	$286,173
Sep, 2030	$336	$1,612	$285,837
Oct, 2030	$338	$1,610	$285,500
Nov, 2030	$339	$1,608	$285,160
Dec, 2030	$341	$1,606	$284,819
2030	$3,973	$19,401	$284,819
Jan, 2031	$343	$1,604	$284,475
Feb, 2031	$345	$1,603	$284,130
Mar, 2031	$347	$1,601	$283,783
Apr, 2031	$349	$1,599	$283,434
May, 2031	$351	$1,597	$283,083
Jun, 2031	$353	$1,595	$282,730
Jul, 2031	$355	$1,593	$282,375
Aug, 2031	$357	$1,591	$282,017
Sep, 2031	$359	$1,589	$281,658
Oct, 2031	$361	$1,587	$281,297
Nov, 2031	$363	$1,585	$280,934
Dec, 2031	$365	$1,583	$280,569
2031	$4,250	$19,124	$280,569
Jan, 2032	$367	$1,581	$280,202
Feb, 2032	$369	$1,578	$279,832
Mar, 2032	$371	$1,576	$279,461
Apr, 2032	$373	$1,574	$279,087
May, 2032	$376	$1,572	$278,712
Jun, 2032	$378	$1,570	$278,334
Jul, 2032	$380	$1,568	$277,954
Aug, 2032	$382	$1,566	$277,572
Sep, 2032	$384	$1,564	$277,188
Oct, 2032	$386	$1,561	$276,802
Nov, 2032	$388	$1,559	$276,413
Dec, 2032	$391	$1,557	$276,023
2032	$4,546	$18,827	$276,023
Jan, 2033	$393	$1,555	$275,630
Feb, 2033	$395	$1,553	$275,235
Mar, 2033	$397	$1,550	$274,838
Apr, 2033	$400	$1,548	$274,438
May, 2033	$402	$1,546	$274,036
Jun, 2033	$404	$1,544	$273,632
Jul, 2033	$406	$1,541	$273,226
Aug, 2033	$409	$1,539	$272,817
Sep, 2033	$411	$1,537	$272,406
Oct, 2033	$413	$1,535	$271,993
Nov, 2033	$416	$1,532	$271,577
Dec, 2033	$418	$1,530	$271,160
2033	$4,863	$18,510	$271,160
Jan, 2034	$420	$1,528	$270,739
Feb, 2034	$423	$1,525	$270,317
Mar, 2034	$425	$1,523	$269,892
Apr, 2034	$427	$1,520	$269,464
May, 2034	$430	$1,518	$269,034
Jun, 2034	$432	$1,516	$268,602
Jul, 2034	$435	$1,513	$268,168
Aug, 2034	$437	$1,511	$267,730
Sep, 2034	$440	$1,508	$267,291
Oct, 2034	$442	$1,506	$266,849
Nov, 2034	$445	$1,503	$266,404
Dec, 2034	$447	$1,501	$265,957
2034	$5,202	$18,171	$265,957
Jan, 2035	$450	$1,498	$265,508
Feb, 2035	$452	$1,496	$265,056
Mar, 2035	$455	$1,493	$264,601
Apr, 2035	$457	$1,491	$264,144
May, 2035	$460	$1,488	$263,684
Jun, 2035	$462	$1,485	$263,222
Jul, 2035	$465	$1,483	$262,757
Aug, 2035	$468	$1,480	$262,289
Sep, 2035	$470	$1,478	$261,819
Oct, 2035	$473	$1,475	$261,346
Nov, 2035	$476	$1,472	$260,870
Dec, 2035	$478	$1,470	$260,392
2035	$5,565	$17,808	$260,392
Jan, 2036	$481	$1,467	$259,911
Feb, 2036	$484	$1,464	$259,428
Mar, 2036	$486	$1,461	$258,941
Apr, 2036	$489	$1,459	$258,452
May, 2036	$492	$1,456	$257,960
Jun, 2036	$495	$1,453	$257,466
Jul, 2036	$497	$1,450	$256,968
Aug, 2036	$500	$1,448	$256,468
Sep, 2036	$503	$1,445	$255,965
Oct, 2036	$506	$1,442	$255,459
Nov, 2036	$509	$1,439	$254,951
Dec, 2036	$512	$1,436	$254,439
2036	$5,953	$17,420	$254,439
Jan, 2037	$514	$1,433	$253,925
Feb, 2037	$517	$1,430	$253,407
Mar, 2037	$520	$1,428	$252,887
Apr, 2037	$523	$1,425	$252,364
May, 2037	$526	$1,422	$251,838
Jun, 2037	$529	$1,419	$251,309
Jul, 2037	$532	$1,416	$250,776
Aug, 2037	$535	$1,413	$250,241
Sep, 2037	$538	$1,410	$249,703
Oct, 2037	$541	$1,407	$249,162
Nov, 2037	$544	$1,404	$248,618
Dec, 2037	$547	$1,401	$248,071
2037	$6,368	$17,005	$248,071
Jan, 2038	$550	$1,397	$247,520
Feb, 2038	$553	$1,394	$246,967
Mar, 2038	$557	$1,391	$246,410
Apr, 2038	$560	$1,388	$245,851
May, 2038	$563	$1,385	$245,288
Jun, 2038	$566	$1,382	$244,722
Jul, 2038	$569	$1,379	$244,153
Aug, 2038	$572	$1,375	$243,580
Sep, 2038	$576	$1,372	$243,005
Oct, 2038	$579	$1,369	$242,426
Nov, 2038	$582	$1,366	$241,844
Dec, 2038	$585	$1,362	$241,258
2038	$6,812	$16,561	$241,258
Jan, 2039	$589	$1,359	$240,670
Feb, 2039	$592	$1,356	$240,078
Mar, 2039	$595	$1,352	$239,482
Apr, 2039	$599	$1,349	$238,884
May, 2039	$602	$1,346	$238,281
Jun, 2039	$605	$1,342	$237,676
Jul, 2039	$609	$1,339	$237,067
Aug, 2039	$612	$1,335	$236,455
Sep, 2039	$616	$1,332	$235,839
Oct, 2039	$619	$1,329	$235,220
Nov, 2039	$623	$1,325	$234,597
Dec, 2039	$626	$1,322	$233,971
2039	$7,287	$16,086	$233,971
Jan, 2040	$630	$1,318	$233,341
Feb, 2040	$633	$1,314	$232,708
Mar, 2040	$637	$1,311	$232,071
Apr, 2040	$640	$1,307	$231,431
May, 2040	$644	$1,304	$230,786
Jun, 2040	$648	$1,300	$230,139
Jul, 2040	$651	$1,296	$229,487
Aug, 2040	$655	$1,293	$228,832
Sep, 2040	$659	$1,289	$228,174
Oct, 2040	$662	$1,285	$227,511
Nov, 2040	$666	$1,282	$226,845
Dec, 2040	$670	$1,278	$226,175
2040	$7,796	$15,578	$226,175
Jan, 2041	$674	$1,274	$225,502
Feb, 2041	$677	$1,270	$224,824
Mar, 2041	$681	$1,267	$224,143
Apr, 2041	$685	$1,263	$223,458
May, 2041	$689	$1,259	$222,769
Jun, 2041	$693	$1,255	$222,076
Jul, 2041	$697	$1,251	$221,379
Aug, 2041	$701	$1,247	$220,678
Sep, 2041	$705	$1,243	$219,974
Oct, 2041	$709	$1,239	$219,265
Nov, 2041	$713	$1,235	$218,553
Dec, 2041	$717	$1,231	$217,836
2041	$8,339	$15,034	$217,836
Jan, 2042	$721	$1,227	$217,115
Feb, 2042	$725	$1,223	$216,391
Mar, 2042	$729	$1,219	$215,662
Apr, 2042	$733	$1,215	$214,929
May, 2042	$737	$1,211	$214,192
Jun, 2042	$741	$1,207	$213,451
Jul, 2042	$745	$1,202	$212,705
Aug, 2042	$750	$1,198	$211,956
Sep, 2042	$754	$1,194	$211,202
Oct, 2042	$758	$1,190	$210,444
Nov, 2042	$762	$1,186	$209,682
Dec, 2042	$767	$1,181	$208,915
2042	$8,921	$14,453	$208,915
Jan, 2043	$771	$1,177	$208,144
Feb, 2043	$775	$1,173	$207,369
Mar, 2043	$780	$1,168	$206,589
Apr, 2043	$784	$1,164	$205,805
May, 2043	$788	$1,159	$205,017
Jun, 2043	$793	$1,155	$204,224
Jul, 2043	$797	$1,150	$203,427
Aug, 2043	$802	$1,146	$202,625
Sep, 2043	$806	$1,141	$201,819
Oct, 2043	$811	$1,137	$201,008
Nov, 2043	$815	$1,132	$200,192
Dec, 2043	$820	$1,128	$199,372
2043	$9,543	$13,831	$199,372
Jan, 2044	$825	$1,123	$198,548
Feb, 2044	$829	$1,118	$197,718
Mar, 2044	$834	$1,114	$196,884
Apr, 2044	$839	$1,109	$196,046
May, 2044	$843	$1,104	$195,202
Jun, 2044	$848	$1,100	$194,354
Jul, 2044	$853	$1,095	$193,501
Aug, 2044	$858	$1,090	$192,644
Sep, 2044	$863	$1,085	$191,781
Oct, 2044	$867	$1,080	$190,914
Nov, 2044	$872	$1,075	$190,041
Dec, 2044	$877	$1,071	$189,164
2044	$10,208	$13,165	$189,164
Jan, 2045	$882	$1,066	$188,282
Feb, 2045	$887	$1,061	$187,395
Mar, 2045	$892	$1,056	$186,503
Apr, 2045	$897	$1,051	$185,605
May, 2045	$902	$1,046	$184,703
Jun, 2045	$907	$1,040	$183,796
Jul, 2045	$912	$1,035	$182,884
Aug, 2045	$918	$1,030	$181,966
Sep, 2045	$923	$1,025	$181,043
Oct, 2045	$928	$1,020	$180,115
Nov, 2045	$933	$1,015	$179,182
Dec, 2045	$938	$1,009	$178,244
2045	$10,920	$12,453	$178,244
Jan, 2046	$944	$1,004	$177,300
Feb, 2046	$949	$999	$176,351
Mar, 2046	$954	$993	$175,397
Apr, 2046	$960	$988	$174,437
May, 2046	$965	$983	$173,472
Jun, 2046	$971	$977	$172,501
Jul, 2046	$976	$972	$171,525
Aug, 2046	$982	$966	$170,544
Sep, 2046	$987	$961	$169,557
Oct, 2046	$993	$955	$168,564
Nov, 2046	$998	$950	$167,566
Dec, 2046	$1,004	$944	$166,562
2046	$11,682	$11,692	$166,562
Jan, 2047	$1,009	$938	$165,553
Feb, 2047	$1,015	$933	$164,537
Mar, 2047	$1,021	$927	$163,517
Apr, 2047	$1,027	$921	$162,490
May, 2047	$1,032	$915	$161,457
Jun, 2047	$1,038	$910	$160,419
Jul, 2047	$1,044	$904	$159,375
Aug, 2047	$1,050	$898	$158,325
Sep, 2047	$1,056	$892	$157,269
Oct, 2047	$1,062	$886	$156,207
Nov, 2047	$1,068	$880	$155,140
Dec, 2047	$1,074	$874	$154,066
2047	$12,496	$10,877	$154,066
Jan, 2048	$1,080	$868	$152,986
Feb, 2048	$1,086	$862	$151,900
Mar, 2048	$1,092	$856	$150,808
Apr, 2048	$1,098	$850	$149,710
May, 2048	$1,104	$843	$148,605
Jun, 2048	$1,111	$837	$147,495
Jul, 2048	$1,117	$831	$146,378
Aug, 2048	$1,123	$825	$145,254
Sep, 2048	$1,130	$818	$144,125
Oct, 2048	$1,136	$812	$142,989
Nov, 2048	$1,142	$806	$141,847
Dec, 2048	$1,149	$799	$140,698
2048	$13,368	$10,006	$140,698
Jan, 2049	$1,155	$793	$139,543
Feb, 2049	$1,162	$786	$138,381
Mar, 2049	$1,168	$780	$137,213
Apr, 2049	$1,175	$773	$136,038
May, 2049	$1,181	$766	$134,857
Jun, 2049	$1,188	$760	$133,669
Jul, 2049	$1,195	$753	$132,474
Aug, 2049	$1,202	$746	$131,272
Sep, 2049	$1,208	$740	$130,064
Oct, 2049	$1,215	$733	$128,849
Nov, 2049	$1,222	$726	$127,627
Dec, 2049	$1,229	$719	$126,398
2049	$14,300	$9,074	$126,398
Jan, 2050	$1,236	$712	$125,162
Feb, 2050	$1,243	$705	$123,920
Mar, 2050	$1,250	$698	$122,670
Apr, 2050	$1,257	$691	$121,413
May, 2050	$1,264	$684	$120,149
Jun, 2050	$1,271	$677	$118,878
Jul, 2050	$1,278	$670	$117,600
Aug, 2050	$1,285	$662	$116,315
Sep, 2050	$1,293	$655	$115,022
Oct, 2050	$1,300	$648	$113,723
Nov, 2050	$1,307	$641	$112,415
Dec, 2050	$1,315	$633	$111,101
2050	$15,297	$8,076	$111,101
Jan, 2051	$1,322	$626	$109,779
Feb, 2051	$1,329	$618	$108,450
Mar, 2051	$1,337	$611	$107,113
Apr, 2051	$1,344	$603	$105,768
May, 2051	$1,352	$596	$104,416
Jun, 2051	$1,360	$588	$103,057
Jul, 2051	$1,367	$581	$101,690
Aug, 2051	$1,375	$573	$100,315
Sep, 2051	$1,383	$565	$98,932
Oct, 2051	$1,390	$557	$97,542
Nov, 2051	$1,398	$549	$96,143
Dec, 2051	$1,406	$542	$94,737
2051	$16,364	$7,010	$94,737
Jan, 2052	$1,414	$534	$93,323
Feb, 2052	$1,422	$526	$91,901
Mar, 2052	$1,430	$518	$90,471
Apr, 2052	$1,438	$510	$89,033
May, 2052	$1,446	$502	$87,586
Jun, 2052	$1,454	$493	$86,132
Jul, 2052	$1,463	$485	$84,669
Aug, 2052	$1,471	$477	$83,199
Sep, 2052	$1,479	$469	$81,720
Oct, 2052	$1,487	$460	$80,232
Nov, 2052	$1,496	$452	$78,736
Dec, 2052	$1,504	$444	$77,232
2052	$17,505	$5,868	$77,232
Jan, 2053	$1,513	$435	$75,719
Feb, 2053	$1,521	$427	$74,198
Mar, 2053	$1,530	$418	$72,668
Apr, 2053	$1,538	$409	$71,130
May, 2053	$1,547	$401	$69,583
Jun, 2053	$1,556	$392	$68,027
Jul, 2053	$1,565	$383	$66,462
Aug, 2053	$1,573	$374	$64,889
Sep, 2053	$1,582	$366	$63,307
Oct, 2053	$1,591	$357	$61,716
Nov, 2053	$1,600	$348	$60,115
Dec, 2053	$1,609	$339	$58,506
2053	$18,726	$4,648	$58,506
Jan, 2054	$1,618	$330	$56,888
Feb, 2054	$1,627	$320	$55,261
Mar, 2054	$1,636	$311	$53,624
Apr, 2054	$1,646	$302	$51,979
May, 2054	$1,655	$293	$50,324
Jun, 2054	$1,664	$283	$48,659
Jul, 2054	$1,674	$274	$46,986
Aug, 2054	$1,683	$265	$45,303
Sep, 2054	$1,693	$255	$43,610
Oct, 2054	$1,702	$246	$41,908
Nov, 2054	$1,712	$236	$40,196
Dec, 2054	$1,721	$226	$38,475
2054	$20,032	$3,342	$38,475
Jan, 2055	$1,731	$217	$36,744
Feb, 2055	$1,741	$207	$35,003
Mar, 2055	$1,751	$197	$33,252
Apr, 2055	$1,760	$187	$31,492
May, 2055	$1,770	$177	$29,721
Jun, 2055	$1,780	$167	$27,941
Jul, 2055	$1,790	$157	$26,151
Aug, 2055	$1,800	$147	$24,350
Sep, 2055	$1,811	$137	$22,540
Oct, 2055	$1,821	$127	$20,719
Nov, 2055	$1,831	$117	$18,888
Dec, 2055	$1,841	$106	$17,046
2055	$21,428	$1,945	$17,046
Jan, 2056	$1,852	$96	$15,195
Feb, 2056	$1,862	$86	$13,332
Mar, 2056	$1,873	$75	$11,460
Apr, 2056	$1,883	$65	$9,576
May, 2056	$1,894	$54	$7,683
Jun, 2056	$1,905	$43	$5,778
Jul, 2056	$1,915	$33	$3,863
Aug, 2056	$1,926	$22	$1,937
Sep, 2056	$1,937	$11	$0
2056	$17,046	$484	$0
Totals	$300,000	$401,204

$300,000 mortgage FAQ

What is the monthly payment on a $300,000 mortgage?: At the current 30-year fixed average of 6.76 percent, a $300,000 mortgage costs about $1,948 a month in principal and interest. Over a 15-year term at 6.09 percent the payment rises to roughly $2,546. 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 6.76 percent costs about $401,204 in total interest — more than the amount borrowed. Choosing a 15-year term at 6.09 percent cuts that to roughly $158,313, a saving of about $242,891, 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 $1,948 payment for a $300,000 mortgage implies an income of roughly $83,477 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 $50 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.