Monthly payment on a $300,000 mortgage
A $300,000 loan at the current average 30-year fixed rate of 6.76% (Freddie Mac, week of September 10, 2026) works out to about $1,948 a month in principal and interest. Property taxes, homeowners insurance, and any PMI or HOA dues are added on top. Change the rate or term below to match a quote.
$1,947.79 / month
- Total interest
- $401,203
- Total paid
- $701,203
- Payoff
- 30.0 years
Payment by rate and term
Monthly principal and interest on a $300,000 loan at each rate, for 30-, 20-, and 15-year terms.
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.50% | $1,703 | $2,064 | $2,451 |
| 5.75% | $1,751 | $2,106 | $2,491 |
| 6.00% | $1,799 | $2,149 | $2,532 |
| 6.25% | $1,847 | $2,193 | $2,572 |
| 6.50% | $1,896 | $2,237 | $2,613 |
| 6.75% | $1,946 | $2,281 | $2,655 |
| 7.00% | $1,996 | $2,326 | $2,696 |
| 7.25% | $2,047 | $2,371 | $2,739 |
| 7.50% | $2,098 | $2,417 | $2,781 |
| 7.75% | $2,149 | $2,463 | $2,824 |
| 8.00% | $2,201 | $2,509 | $2,867 |
Total cost over 30 years
- Total interest at 6.76%: $401,203
- Total of all payments: $701,203 (the $300,000 borrowed plus interest)
Income needed
Keeping the full housing payment near 28% of gross income — the standard front-end lending guideline — and allowing a rough amount for taxes and insurance, a $300,000 mortgage points to a household income of about $104,280 a year. Existing car or student-loan payments lower that ceiling through the 36% total-debt rule.