Use this table to see the principal-and-interest payment on common loan amounts at three sample interest rates. All figures assume a fixed rate and equal monthly payments. Taxes, insurance, mortgage insurance and HOA dues are not included.
Monthly payment by loan amount
| Loan amount | 30-yr at 6.0% | 30-yr at 6.5% | 30-yr at 7.0% | 15-yr at 6.5% |
|---|---|---|---|---|
| $100,000 | $599.55 | $632.07 | $665.30 | $871.11 |
| $150,000 | $899.33 | $948.10 | $997.95 | $1,306.66 |
| $200,000 | $1,199.10 | $1,264.14 | $1,330.60 | $1,742.21 |
| $250,000 | $1,498.88 | $1,580.17 | $1,663.26 | $2,177.77 |
| $300,000 | $1,798.65 | $1,896.20 | $1,995.91 | $2,613.32 |
| $350,000 | $2,098.43 | $2,212.24 | $2,328.56 | $3,048.88 |
| $400,000 | $2,398.20 | $2,528.27 | $2,661.21 | $3,484.43 |
| $450,000 | $2,697.98 | $2,844.31 | $2,993.86 | $3,919.98 |
| $500,000 | $2,997.75 | $3,160.34 | $3,326.51 | $4,355.54 |
| $600,000 | $3,597.30 | $3,792.41 | $3,991.81 | $5,226.64 |
A useful shortcut
At 6.5% over 30 years, each $1,000 borrowed costs about $6.32 a month in principal and interest. Multiply that figure by your loan amount divided by 1,000 for a quick estimate. At 6%, the factor is $6.00, and at 7% it is $6.65.
Loan amount is not home price
The loan is the home price minus your down payment. With 20% down, a $300,000 loan buys a home near $375,000. With 10% down, the same loan buys a home near $333,333, but a smaller down payment can mean mortgage insurance. Compare more scenarios in the Mortgage Calculator.
How to use these numbers
- Pick the row closest to your planned loan amount.
- Add monthly property tax and insurance for your area.
- Check the total against your budget. The Mortgage Affordability Calculator shows a range.
- Get quotes from several lenders, since small rate differences add up. See what APR means.
Calculate your own mortgage payment
Common questions
How do I estimate a mortgage payment quickly?
At 6.5% over 30 years, multiply the loan amount in thousands by about $6.32.
Does this include taxes and insurance?
No. These are principal and interest only. Property tax, insurance and other costs are additional.
Are these current mortgage rates?
No. They are sample rates for comparison. Check current quotes from lenders.