$250,000 mortgage payment
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A $250,000 30-year fixed mortgage at 6.5% costs $1,580.17 a month in principal and interest. The table shows the payment for each rate and term.
| Rate | 10 years | 15 years | 20 years | 30 years |
|---|---|---|---|---|
| 5% | $2,652 | $1,977 | $1,650 | $1,342 |
| 5.5% | $2,713 | $2,043 | $1,720 | $1,419 |
| 6% | $2,776 | $2,110 | $1,791 | $1,499 |
| 6.25% | $2,807 | $2,144 | $1,827 | $1,539 |
| 6.5% | $2,839 | $2,178 | $1,864 | $1,580 |
| 6.75% | $2,871 | $2,212 | $1,901 | $1,621 |
| 7% | $2,903 | $2,247 | $1,938 | $1,663 |
| 7.5% | $2,968 | $2,318 | $2,014 | $1,748 |
| 8% | $3,033 | $2,389 | $2,091 | $1,834 |
Fixed-rate loan; property tax, homeowners insurance, PMI and HOA dues not included.
Add taxes, insurance and PMI
Mortgage calculator
Monthly payment
$1,990.59
- Principal & interest
- $1,580.17
- Property tax
- $260.42
- Insurance
- $150.00
- PMI
- $0.00
- Loan amount
- $250,000
- Total interest
- $318,862
Amortization schedule (yearly)
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $16,168 | $2,794 | $247,206 |
| 2 | $15,981 | $2,981 | $244,224 |
| 3 | $15,781 | $3,181 | $241,043 |
| 4 | $15,568 | $3,394 | $237,649 |
| 5 | $15,341 | $3,621 | $234,027 |
| 6 | $15,098 | $3,864 | $230,163 |
| 7 | $14,839 | $4,123 | $226,041 |
| 8 | $14,563 | $4,399 | $221,642 |
| 9 | $14,269 | $4,694 | $216,948 |
| 10 | $13,954 | $5,008 | $211,940 |
| 11 | $13,619 | $5,343 | $206,597 |
| 12 | $13,261 | $5,701 | $200,896 |
| 13 | $12,879 | $6,083 | $194,813 |
| 14 | $12,472 | $6,490 | $188,323 |
| 15 | $12,037 | $6,925 | $181,398 |
| 16 | $11,573 | $7,389 | $174,009 |
| 17 | $11,078 | $7,884 | $166,126 |
| 18 | $10,551 | $8,412 | $157,714 |
| 19 | $9,987 | $8,975 | $148,739 |
| 20 | $9,386 | $9,576 | $139,163 |
| 21 | $8,745 | $10,217 | $128,946 |
| 22 | $8,061 | $10,902 | $118,045 |
| 23 | $7,330 | $11,632 | $106,413 |
| 24 | $6,551 | $12,411 | $94,002 |
| 25 | $5,720 | $13,242 | $80,761 |
| 26 | $4,833 | $14,129 | $66,632 |
| 27 | $3,887 | $15,075 | $51,557 |
| 28 | $2,878 | $16,084 | $35,473 |
| 29 | $1,800 | $17,162 | $18,311 |
| 30 | $651 | $18,311 | $0 |
Monthly payment
Frequently asked questions
What is the monthly payment on a $250,000 mortgage?
On a 30-year fixed loan at 6.5%, principal and interest come to $1,580.17 a month, or $318,862 of interest over 30 years. Property tax, insurance and any PMI come on top.
15-year or 30-year?
At 6% over 15 years the payment is $2,109.64 a month, but total interest falls to $129,736.
How much income do I need for a $250,000 mortgage?
Using the common 28% front-end guideline, principal and interest of $1,580 a month alone require about $68,000 of gross annual income, before taxes and insurance.