Monthly payment on a $150,000 mortgage
The monthly principal and interest payment on a $150,000 mortgage at 6.5% for 30 years is $948.10.
- Over the full 30 years you'd pay $191,317 in interest — $341,317 in total, or $1.28 of interest for every $1 borrowed.
- A 15-year loan at the same rate costs $1,306.66 a month — $359 more — but cuts total interest to $85,199, saving $106,118.
- Taxes and insurance come on top: using the Mortgage Calculator's defaults (1.1% property tax on a $187,500 home and $1,800 a year of insurance), the full monthly payment is about $1,269.98.
- On the 30-year schedule, principal first outpaces interest in year 20, and half the loan is repaid by the end of year 22.
- Lenders often cap housing costs at 28% of gross income; keeping principal and interest alone under that line takes about $40,633 a year — more once taxes and insurance are counted.
Educational estimate only, not financial advice. Figures cover principal and interest on a fixed-rate loan; your lender's quote will include taxes, insurance, fees, and terms specific to you.
$37,500 · 20.0% of price
Taxes, insurance & fees
PMI is charged only while your down payment is under 20%, and drops off automatically once you reach 22% equity.
Extra payments (optional)
Loan start date
Estimated monthly payment
$1,269.98
Loan amount
$150,000
Total interest
$191,317
Total cost
$341,317
Payoff
October 2056
Term
30 yr
- Principal & interest$948.1075%
- Property tax$171.8814%
- Home insurance$150.0012%
Pre-filled for this page. Open the full Mortgage Calculator for every option.
| Rate | 30-year payment | 30-year total interest | 15-year payment | 15-year total interest |
|---|---|---|---|---|
| 5.5% | $851.68 | $156,606 | $1,225.63 | $70,613 |
| 6% | $899.33 | $173,757 | $1,265.79 | $77,841 |
| 6.5% | $948.10 | $191,317 | $1,306.66 | $85,199 |
| 7% | $997.95 | $209,263 | $1,348.24 | $92,684 |
| 7.5% | $1,048.82 | $227,576 | $1,390.52 | $100,293 |
| Loan amount | Monthly payment | Total interest |
|---|---|---|
| $100,000 | $632.07 | $127,544 |
| $125,000 | $790.09 | $159,431 |
| $150,000 | $948.10 | $191,317 |
| $175,000 | $1,106.12 | $223,203 |
| $200,000 | $1,264.14 | $255,089 |
| End of year | Principal that year | Interest that year | Remaining balance | Paid off |
|---|---|---|---|---|
| 1 | $1,677 | $9,701 | $148,323 | 1.1% |
| 5 | $2,173 | $9,204 | $140,416 | 6.4% |
| 10 | $3,005 | $8,373 | $127,164 | 15.2% |
| 15 | $4,155 | $7,222 | $108,839 | 27.4% |
| 20 | $5,746 | $5,632 | $83,498 | 44.3% |
| 25 | $7,945 | $3,432 | $48,456 | 67.7% |
| 30 | $10,987 | $391 | $0 | 100% |
| Extra per month | New monthly payment | Paid off in | Interest saved |
|---|---|---|---|
| $100 | $1,048.10 | 23 yr 1 mo | $51,724 |
| $250 | $1,198.10 | 17 yr 6 mo | $89,880 |
| $500 | $1,448.10 | 12 yr 9 mo | $120,581 |
What this number includes
The $948.10 figure is principal and interest only — the part fixed for the life of a fixed-rate loan. It assumes a $150,000 loan, for example a $187,500 home with 20% down, so no private mortgage insurance applies.
$150,000 is under the conforming loan limit in every U.S. county, so it can be a standard conforming loan eligible for sale to Fannie Mae or Freddie Mac.
Frequently asked questions
- What is the monthly payment on a $150,000 mortgage?
- $948.10 a month for principal and interest at 6.5% over 30 years. Across rates from 5.5% to 7.5% it ranges from $851.68 to $1,048.82, before taxes and insurance.
- How much interest will I pay on a $150,000 mortgage?
- $191,317 over 30 years at 6.5%, or $85,199 on a 15-year loan at the same rate.
- How much does paying $100 extra a month save on a $150,000 mortgage?
- At 6.5% over 30 years, an extra $100 a month saves $51,724 in interest and pays the loan off in 23 years 1 month instead of 30 years.