$250,000 Mortgage Payment
With a $250,000 home price and 20% down ($50,000), your monthly principal & interest payment is $1,330.60 on a 30-year mortgage at 7%.
30-Year vs 15-Year Comparison
| Term | Monthly Payment | Total Interest | Total Cost |
|---|---|---|---|
| 30 years | $1,330.60 | $279,018 | $479,018 |
| 15 years | $1,797.66 | $123,578 | $323,578 |
| You save | +$467.05/mo | $155,440 | $155,440 |
Monthly Payment by Interest Rate (30-Year)
| Rate | Monthly P&I | Total Interest |
|---|---|---|
| 5.5% | $1,135.58 | $208,808 |
| 6% | $1,199.10 | $231,676 |
| 6.5% | $1,264.14 | $255,089 |
| 7% | $1,330.60 | $279,018 |
| 7.5% | $1,398.43 | $303,434 |
| 8% | $1,467.53 | $328,310 |
About This Estimate
This calculation shows principal and interest only. Your actual monthly payment will also include property taxes (typically 0.5-2.5% of home value per year), homeowner's insurance ($1,000-$3,000+ per year), and possibly Private Mortgage Insurance (PMI) if your down payment is less than 20%. Use our full mortgage calculator to see a complete payment breakdown including taxes, insurance, and PMI.
A $250,000 home with 20% down requires a $50,000 down payment and a $200,000 loan. Over 30 years at 7%, you'll pay $279,018 in total interest — bringing the true cost of the home to $529,018. Choosing a 15-year term saves you $155,440 in interest but increases your monthly payment by $467.05.
Similar Mortgage Amounts
Salary Needed for a $250,000 Home
Based on common affordability guidelines (spending 28-36% of gross income on housing).