$300,000 Mortgage Calculator
Estimate the monthly payment on a $300,000 mortgage. Adjust the interest rate and loan term to compare scenarios and plan your home purchase.
Live · updates as you type
Monthly Payment
$1,798.65
- × months360
- Total paid$647,515
- Interest$347,515
Total cost$647,515over 30 years
- Principal$300,000(46%)
- Interest$347,515(54%)
Mortgage Calculator
Drag the sliders · everything updates instantly
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0%5%10%15%20%
Your mortgage rate (e.g. 6 for 6%).
110203040
e.g. 15 or 30.
Try these·What if…
r = 7%
If rate were 7.00%
$1,995.91
+$197.26/mo
n = 15y
If you chose a 15-year term
$2,531.57
saves $191,832
x = $200
If you paid +$200/mo extra
23.3y
saves 6.7y of payments
$300,000 Payment Scenarios
Compare monthly payments for a $300,000 mortgage at different interest rates and terms.
| Rate | Term (yrs) | Monthly Payment | Total Cost |
|---|---|---|---|
| 5% | 15 yrs | $2,372.38 | $427,029 |
| 5% | 20 yrs | $1,979.87 | $475,168 |
| 5% | 25 yrs | $1,753.77 | $526,131 |
| 5% | 30 yrs | $1,610.46 | $579,767 |
| 5.5% | 15 yrs | $2,451.25 | $441,225 |
| 5.5% | 20 yrs | $2,063.66 | $495,279 |
| 5.5% | 25 yrs | $1,842.26 | $552,679 |
| 5.5% | 30 yrs | $1,703.37 | $613,212 |
| 6% | 15 yrs | $2,531.57 | $455,683 |
| 6% | 20 yrs | $2,149.29 | $515,830 |
| 6% | 25 yrs | $1,932.90 | $579,871 |
| 6% | 30 yrs | $1,798.65 | $647,515 |
| 6.5% | 15 yrs | $2,613.32 | $470,398 |
| 6.5% | 20 yrs | $2,236.72 | $536,813 |
| 6.5% | 25 yrs | $2,025.62 | $607,686 |
| 6.5% | 30 yrs | $1,896.20 | $682,633 |
| 7% | 15 yrs | $2,696.48 | $485,367 |
| 7% | 20 yrs | $2,325.90 | $558,215 |
| 7% | 25 yrs | $2,120.34 | $636,101 |
| 7% | 30 yrs | $1,995.91 | $718,527 |
Key Insights for $300,000
- 1A $300,000 mortgage is in the mid-range for many US housing markets.
- 2On a $300,000 mortgage, the difference between a 15-year and 30-year term can mean saving over $120,000 in total interest.
- 3A 20% down payment on a $300,000 home would be $60,000, helping you avoid private mortgage insurance (PMI).
$300,000 Mortgage Calculator FAQ
- What is the monthly payment on a $300,000 mortgage?
- A $300,000 mortgage at 6% for 30 years has a monthly payment of approximately $1,798.65. At 6% for 15 years, it's about $2,531.57/month.
- How much income do I need for a $300,000 mortgage?
- Using the standard 28% debt-to-income ratio, you'd need roughly $77,085/year in gross income for a $300,000 mortgage at 6% over 30 years.
- How much down payment do I need for a $300,000 home?
- The typical down payment for a $300,000 home ranges from $10,500 (3.5% for FHA loans) to $60,000 (20% to avoid PMI). VA and USDA loans may offer zero-down options for eligible buyers.
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Want a deeper dive? Read our complete Mortgage Calculator guide for detailed explanations, strategies, and tips.