Monthly Payment on a $300,000 Mortgage

On a $300,000 home with 20% down ($240,000 financed) at 6.5%, principal and interest is about $1,517 a month. With taxes and insurance, expect roughly $1,900 to $2,300 total.

The full breakdown

The $1,517 covers principal and interest only. Add about $250 a month for property tax and $100 for insurance in a typical state, and you land near $1,900.

With a smaller down payment

Put down 5% instead of 20% and you finance $285,000 — about $1,802 a month in principal and interest, plus PMI of roughly $150 a month. The gap is real.

Run your own numbers

Every state has different tax rates. Use our PITI calculator pre-filled with real local data to see your exact payment.