CalculynWhat is the monthly payment on a $150k mortgage?
At a 6.5% interest rate on a 30-year fixed loan, a $150,000 mortgage costs about $948 a month in principal and interest. Property tax, insurance and PMI usually add more on top.
Monthly payment by rate
Principal and interest only. Example rates for 2026, not a quote.
| Rate | 30-year | 20-year | 15-year |
|---|---|---|---|
| 5.5% | $852 | $1,032 | $1,226 |
| 6% | $899 | $1,075 | $1,266 |
| 6.5% | $948 | $1,118 | $1,307 |
| 7% | $998 | $1,163 | $1,348 |
| 7.5% | $1,049 | $1,208 | $1,391 |
Total interest paid
| Rate | 30-year total interest | 15-year total interest |
|---|---|---|
| 5.5% | $156,606 | $70,613 |
| 6% | $173,757 | $77,841 |
| 6.5% | $191,317 | $85,199 |
| 7% | $209,263 | $92,684 |
| 7.5% | $227,576 | $100,293 |
Income needed
A common guideline keeps housing costs under 28% of gross monthly income. At 6.5% over 30 years, a $150,000 loan suggests an income of roughly $50,791 a year, assuming taxes and insurance add about 25% to the payment.
How it's calculated
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments.
Change the numbers →
Open the Mortgage Calculator with these values filled in.
These figures are educational estimates, not financial advice.
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