● Money & small business
Mortgage payment table: $200,000 to $600,000 at 5.5% to 7.5% (30 and 15 years)
The monthly payment on a fixed-rate mortgage depends on three things: how much you borrow, the rate and the term. The tables below give principal and interest for common loan amounts. Property tax, homeowners insurance, PMI and HOA fees come on top: the mortgage payment calculator adds them. To see what extra payments do, use the mortgage extra payment calculator; to see what price your income supports, the home affordability calculator.
30-year fixed: monthly principal and interest
| Loan | 5.5% | 6% | 6.5% | 7% | 7.5% |
|---|---|---|---|---|---|
| $200,000 | $1,135.58 | $1,199.10 | $1,264.14 | $1,330.60 | $1,398.43 |
| $250,000 | $1,419.47 | $1,498.88 | $1,580.17 | $1,663.26 | $1,748.04 |
| $300,000 | $1,703.37 | $1,798.65 | $1,896.20 | $1,995.91 | $2,097.64 |
| $350,000 | $1,987.26 | $2,098.43 | $2,212.24 | $2,328.56 | $2,447.25 |
| $400,000 | $2,271.16 | $2,398.20 | $2,528.27 | $2,661.21 | $2,796.86 |
| $450,000 | $2,555.05 | $2,697.98 | $2,844.31 | $2,993.86 | $3,146.47 |
| $500,000 | $2,838.95 | $2,997.75 | $3,160.34 | $3,326.51 | $3,496.07 |
| $600,000 | $3,406.73 | $3,597.30 | $3,792.41 | $3,991.81 | $4,195.29 |
At 6.5%, every $100,000 borrowed costs about $632 a month. On a $400,000 loan, each half point of rate adds $127 to $136 a month in this range.
30-year fixed: total interest over the loan
| Loan | 5.5% | 6% | 6.5% | 7% | 7.5% |
|---|---|---|---|---|---|
| $200,000 | $208,807 | $231,677 | $255,086 | $279,022 | $303,434 |
| $250,000 | $261,012 | $289,593 | $318,862 | $348,769 | $379,290 |
| $300,000 | $313,210 | $347,515 | $382,637 | $418,524 | $455,155 |
| $350,000 | $365,415 | $405,432 | $446,404 | $488,280 | $531,011 |
| $400,000 | $417,614 | $463,354 | $510,180 | $558,036 | $606,867 |
| $450,000 | $469,819 | $521,270 | $573,947 | $627,791 | $682,722 |
| $500,000 | $522,017 | $579,193 | $637,722 | $697,547 | $758,589 |
| $600,000 | $626,427 | $695,031 | $765,266 | $837,058 | $910,301 |
At 6.5%, you pay 1.28 times the amount borrowed in interest over 30 years; at 7.5%, 1.52 times.
15-year fixed: monthly principal and interest
| Loan | 5.5% | 6% | 6.5% | 7% | 7.5% |
|---|---|---|---|---|---|
| $200,000 | $1,634.17 | $1,687.71 | $1,742.21 | $1,797.66 | $1,854.02 |
| $250,000 | $2,042.71 | $2,109.64 | $2,177.77 | $2,247.07 | $2,317.53 |
| $300,000 | $2,451.25 | $2,531.57 | $2,613.32 | $2,696.48 | $2,781.04 |
| $350,000 | $2,859.79 | $2,953.50 | $3,048.88 | $3,145.90 | $3,244.54 |
| $400,000 | $3,268.33 | $3,375.43 | $3,484.43 | $3,595.31 | $3,708.05 |
| $450,000 | $3,676.88 | $3,797.36 | $3,919.98 | $4,044.73 | $4,171.56 |
| $500,000 | $4,085.42 | $4,219.28 | $4,355.54 | $4,494.14 | $4,635.06 |
| $600,000 | $4,902.50 | $5,063.14 | $5,226.64 | $5,392.97 | $5,562.07 |
At the same 6.5%, a $400,000 loan over 15 years costs $3,484.43 a month, $956.16 more than over 30 years, but $227,197 of interest instead of $510,180. 15-year loans usually come with a lower rate than 30-year ones, which widens the gap: see 15 vs 30-year mortgage.
Every payment uses the standard formula rounded to the cent and was checked against the closed-form value; total interest comes from a month-by-month schedule with interest rounded to the cent and the last payment clearing the balance, the same method as our tested mortgage spreadsheet. Not financial advice.