Mortgage Calculator
$300,000 Mortgage at 6% for 30 Years
A $300,000 mortgage at 6% is a typical starter-home scenario in many parts of the country.
Results
- Loan amount
- $240,000
- Principal & interest
- $1,439
- Taxes, insurance & HOA
- $525
- Total monthly payment
- $1,964
- Total interest over loan
- $278,012
- Total paid over loan
- $518,012
Yearly amortization schedule
| Period | Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|---|
| 1 | $2,947 | $14,320 | $237,053 | |
| 2 | $3,129 | $14,138 | $233,924 | |
| 3 | $3,322 | $13,945 | $230,602 | |
| 4 | $3,527 | $13,740 | $227,075 | |
| 5 | $3,744 | $13,523 | $223,330 | |
| 6 | $3,975 | $13,292 | $219,355 | |
| 7 | $4,221 | $13,046 | $215,135 | |
| 8 | $4,481 | $12,786 | $210,654 | |
| 9 | $4,757 | $12,510 | $205,896 | |
| 10 | $5,051 | $12,216 | $200,846 | |
| 11 | $5,362 | $11,905 | $195,484 | |
| 12 | $5,693 | $11,574 | $189,791 | |
| 13 | $6,044 | $11,223 | $183,747 | |
| 14 | $6,417 | $10,850 | $177,330 | |
| 15 | $6,813 | $10,454 | $170,517 | |
| 16 | $7,233 | $10,034 | $163,284 | |
| 17 | $7,679 | $9,588 | $155,606 | |
| 18 | $8,152 | $9,115 | $147,453 | |
| 19 | $8,655 | $8,612 | $138,798 | |
| 20 | $9,189 | $8,078 | $129,609 | |
| 21 | $9,756 | $7,511 | $119,853 | |
| 22 | $10,358 | $6,909 | $109,495 | |
| 23 | $10,996 | $6,271 | $98,499 | |
| 24 | $11,675 | $5,592 | $86,824 | |
| 25 | $12,395 | $4,872 | $74,429 | |
| 26 | $13,159 | $4,108 | $61,270 | |
| 27 | $13,971 | $3,296 | $47,299 | |
| 28 | $14,833 | $2,434 | $32,466 | |
| 29 | $15,747 | $1,520 | $16,719 | |
| 30 | $16,719 | $548 | $0 |
Frequently asked questions
What's included in the monthly payment shown here?
Principal and interest on the loan, plus estimated property tax, homeowners insurance, and HOA dues if you enter them — the full PITI payment most lenders quote.
Does a bigger down payment always lower my payment?
Yes — a larger down payment shrinks the loan amount, which lowers both the principal & interest portion and, on conventional loans, can remove the need for PMI once you reach 20% equity.