Use this mortgage payment table to quickly look up your estimated monthly payment for any loan amount from $100,000 to $500,000 at interest rates from 5.5% to 8%. All figures assume a 30-year fixed-rate mortgage with no PMI or taxes included. For a complete breakdown including taxes and insurance, use our free Mortgage Calculator.
Monthly Mortgage Payment Table — 30-Year Fixed Rate
Principal and interest only. Does not include property taxes, homeowner’s insurance, or PMI.
| Loan Amount | 5.5% | 6% | 6.5% | 7% | 7.5% | 8% |
|---|---|---|---|---|---|---|
| $100k | $568 | $600 | $632 | $665 | $699 | $734 |
| $150k | $852 | $899 | $948 | $998 | $1,049 | $1,101 |
| $200k | $1,136 | $1,199 | $1,264 | $1,331 | $1,398 | $1,468 |
| $250k | $1,419 | $1,499 | $1,580 | $1,663 | $1,748 | $1,834 |
| $300k | $1,703 | $1,799 | $1,896 | $1,996 | $2,098 | $2,201 |
| $350k | $1,987 | $2,098 | $2,212 | $2,329 | $2,447 | $2,568 |
| $400k | $2,271 | $2,398 | $2,528 | $2,661 | $2,797 | $2,935 |
| $450k | $2,555 | $2,698 | $2,844 | $2,994 | $3,146 | $3,302 |
| $500k | $2,839 | $2,998 | $3,160 | $3,327 | $3,496 | $3,669 |
How Monthly Mortgage Payments Are Calculated
Your monthly mortgage payment (principal + interest) is determined by three factors: the loan amount, the interest rate, and the loan term. The standard formula uses amortization: each payment covers that month’s interest first, then the remainder reduces the principal balance.
Key insight: At a 7% rate, every $100,000 borrowed costs about $665 per month. So a $300,000 loan at 7% runs approximately $1,996/month in principal and interest alone — before taxes and insurance.
How much does 0.5% matter? On a $300,000 loan, the difference between 6.5% and 7.0% is about $98/month — roughly $35,000 over the life of the loan. Shopping for the best rate pays off significantly over 30 years.
Frequently Asked Questions
What is the monthly payment on a $300,000 mortgage at 7%?
A $300,000 30-year fixed mortgage at 7% has a monthly payment of approximately $1,996 for principal and interest. This does not include property taxes, insurance, or PMI.
What is the monthly payment on a $400,000 mortgage at 6.5%?
A $400,000 30-year mortgage at 6.5% has a monthly payment of approximately $2,528 for principal and interest.
How much income do I need to afford a $300,000 mortgage?
Lenders typically use the 28% rule: your monthly mortgage payment should not exceed 28% of gross monthly income. At $1,996/month, you would need approximately $7,129/month (about $85,500/year) in gross income.
Does the table include taxes and insurance?
No. The payments shown are principal and interest only. Your actual monthly payment will be higher once you add property taxes (typically 1%–1.5% of home value annually), homeowner’s insurance, and PMI if your down payment is under 20%. Use our Mortgage Calculator to include all costs.
What is the difference between a 15-year and 30-year mortgage?
A 15-year mortgage has higher monthly payments but you pay far less total interest. For example, a $300,000 loan at 6.5%: the 30-year payment is about $1,896/month while the 15-year is about $2,613/month — but you save approximately $156,000 in total interest.
Our sources
Every payment in this table is computed from the standard amortization formula across rates and terms. For a custom figure use the Mortgage Calculator.
Estimates only. Not financial advice.