Example monthly payment: A $300,000 home with 20% down ($60,000), a 6.5% fixed rate, and a 30-year term has an estimated $1,516.96 monthly principal and interest payment. With the sample $300 monthly property tax and $125 insurance, the calculator shows $1,941.96 per month. Fees, maintenance, and lender-specific costs are excluded. Adjust the inputs below for your situation.
Preconfigured mortgage scenario
Estimate payments on a $300,000 home and test the tradeoff between loan term, interest rate, and monthly cost.
Estimated monthly payment
Adjust values and calculate.
Educational estimate only. It excludes mortgage insurance, fees, maintenance, and lender-specific costs.
Worked example
At 6.5% for 30 years with 20% down, the estimated principal and interest is about $1,517 per month before the sample tax and insurance amounts.
Open the full Mortgage Payment Calculator for dollar-based down payments, HOA dues, and a broader estimate.
Frequently asked questions
How much is 20% down on a $300,000 home?
Twenty percent is $60,000, leaving an estimated $240,000 loan before financed fees.
What changes when I select a 15-year term?
The monthly principal-and-interest payment usually rises, but the balance is repaid faster and interest has fewer years to accrue.
Are property taxes the same everywhere?
No. Replace the sample annual tax with an estimate for the specific property and jurisdiction you are considering.