Monthly payment on a $250,000 mortgage
The monthly principal and interest payment on a $250,000 mortgage at 6.5% for 30 years is $1,580.17.
- Over the full 30 years you'd pay $318,861 in interest — $568,861 in total, or $1.28 of interest for every $1 borrowed.
- A 15-year loan at the same rate costs $2,177.77 a month — $598 more — but cuts total interest to $141,998, saving $176,863.
- Taxes and insurance come on top: using the Mortgage Calculator's defaults (1.1% property tax on a $312,500 home and $1,800 a year of insurance), the full monthly payment is about $2,016.63.
- 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 $67,722 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.
$62,500 · 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
$2,016.63
Loan amount
$250,000
Total interest
$318,861
Total cost
$568,861
Payoff
October 2056
Term
30 yr
- Principal & interest$1,580.1778%
- Property tax$286.4614%
- Home insurance$150.007%
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% | $1,419.47 | $261,010 | $2,042.71 | $117,688 |
| 6% | $1,498.88 | $289,595 | $2,109.64 | $129,736 |
| 6.5% | $1,580.17 | $318,861 | $2,177.77 | $141,998 |
| 7% | $1,663.26 | $348,772 | $2,247.07 | $154,473 |
| 7.5% | $1,748.04 | $379,293 | $2,317.53 | $167,156 |
| Loan amount | Monthly payment | Total interest |
|---|---|---|
| $200,000 | $1,264.14 | $255,089 |
| $225,000 | $1,422.15 | $286,975 |
| $250,000 | $1,580.17 | $318,861 |
| $275,000 | $1,738.19 | $350,747 |
| $300,000 | $1,896.20 | $382,633 |
| End of year | Principal that year | Interest that year | Remaining balance | Paid off |
|---|---|---|---|---|
| 1 | $2,794 | $16,168 | $247,206 | 1.1% |
| 5 | $3,621 | $15,341 | $234,027 | 6.4% |
| 10 | $5,008 | $13,954 | $211,940 | 15.2% |
| 15 | $6,925 | $12,037 | $181,398 | 27.4% |
| 20 | $9,576 | $9,386 | $139,163 | 44.3% |
| 25 | $13,242 | $5,720 | $80,760 | 67.7% |
| 30 | $18,311 | $651 | $0 | 100% |
| Extra per month | New monthly payment | Paid off in | Interest saved |
|---|---|---|---|
| $100 | $1,680.17 | 25 yr 4 mo | $58,860 |
| $250 | $1,830.17 | 20 yr 10 mo | $112,596 |
| $500 | $2,080.17 | 16 yr 3 mo | $163,516 |
What this number includes
The $1,580.17 figure is principal and interest only — the part fixed for the life of a fixed-rate loan. It assumes a $250,000 loan, for example a $312,500 home with 20% down, so no private mortgage insurance applies.
$250,000 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 $250,000 mortgage?
- $1,580.17 a month for principal and interest at 6.5% over 30 years. Across rates from 5.5% to 7.5% it ranges from $1,419.47 to $1,748.04, before taxes and insurance.
- How much interest will I pay on a $250,000 mortgage?
- $318,861 over 30 years at 6.5%, or $141,998 on a 15-year loan at the same rate.
- How much does paying $100 extra a month save on a $250,000 mortgage?
- At 6.5% over 30 years, an extra $100 a month saves $58,860 in interest and pays the loan off in 25 years 4 months instead of 30 years.