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Mortgage Payment on a $300,000 House
With 20% down ($60,000), a 6.5% 30-year fixed loan and typical taxes and insurance, a $300,000 home costs about $1,942 a month. Change any input below.
Mortgage Payment on a $300,000 House
Monthly paymentPrincipal & interest $1,517 on a $240,000 loan
Property tax
$275/mo
Insurance
$150/mo
PMI
None (20%+ down)
Total interest
$306,107
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | $2,683 | $15,521 | $237,317 |
| 2 | $2,862 | $15,341 | $234,455 |
| 3 | $3,054 | $15,150 | $231,401 |
| 4 | $3,258 | $14,945 | $228,143 |
| 5 | $3,477 | $14,727 | $224,666 |
| 6 | $3,709 | $14,494 | $220,957 |
| 7 | $3,958 | $14,246 | $216,999 |
| 8 | $4,223 | $13,981 | $212,776 |
| 9 | $4,506 | $13,698 | $208,270 |
| 10 | $4,808 | $13,396 | $203,463 |
| 11 | $5,130 | $13,074 | $198,333 |
| 12 | $5,473 | $12,731 | $192,860 |
| 13 | $5,840 | $12,364 | $187,021 |
| 14 | $6,231 | $11,973 | $180,790 |
| 15 | $6,648 | $11,556 | $174,142 |
| 16 | $7,093 | $11,110 | $167,049 |
| 17 | $7,568 | $10,635 | $159,481 |
| 18 | $8,075 | $10,128 | $151,405 |
| 19 | $8,616 | $9,588 | $142,790 |
| 20 | $9,193 | $9,011 | $133,597 |
| 21 | $9,809 | $8,395 | $123,788 |
| 22 | $10,465 | $7,738 | $113,323 |
| 23 | $11,166 | $7,037 | $102,156 |
| 24 | $11,914 | $6,289 | $90,242 |
| 25 | $12,712 | $5,491 | $77,530 |
| 26 | $13,563 | $4,640 | $63,967 |
| 27 | $14,472 | $3,732 | $49,495 |
| 28 | $15,441 | $2,763 | $34,054 |
| 29 | $16,475 | $1,728 | $17,579 |
| 30 | $17,579 | $625 | $0 |
PMI usually ends once you reach 20–22% equity. Rates and taxes are estimates — use your lender’s Loan Estimate for exact figures.
Estimates for information only — not financial, tax or investment advice. Rates and rules change; confirm with an official source or a qualified professional. Disclaimer
How the payment changes
- 5% down at 6.5%: $2,345/month
- 10% down at 6.5%: $2,244/month
- 20% down at 6.5%: $1,942/month
- 20% down at 5.5%: $1,788/month
- 20% down at 7.5%: $2,103/month
Frequently asked questions
How much is the monthly payment on a $300,000 house?
About $1,942 with 20% down at 6.5% over 30 years, including property tax and insurance.
What income do I need for a $300,000 house?
Using the 28% housing-ratio rule, roughly $83,000 a year before tax.
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