CalculynWhat is the monthly payment on a $250k mortgage?
At a 6.5% interest rate on a 30-year fixed loan, a $250,000 mortgage costs about $1,580 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% | $1,419 | $1,720 | $2,043 |
| 6% | $1,499 | $1,791 | $2,110 |
| 6.5% | $1,580 | $1,864 | $2,178 |
| 7% | $1,663 | $1,938 | $2,247 |
| 7.5% | $1,748 | $2,014 | $2,318 |
Total interest paid
| Rate | 30-year total interest | 15-year total interest |
|---|---|---|
| 5.5% | $261,010 | $117,688 |
| 6% | $289,595 | $129,736 |
| 6.5% | $318,861 | $141,998 |
| 7% | $348,772 | $154,473 |
| 7.5% | $379,293 | $167,156 |
Income needed
A common guideline keeps housing costs under 28% of gross monthly income. At 6.5% over 30 years, a $250,000 loan suggests an income of roughly $84,652 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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