$250,000 Mortgage Payment
Monthly principal & interest by interest rate and loan term.
A $250,000 mortgage at 6.50% over 30 years costs about $1,580 a month in principal and interest, and $318,861 in interest over the life of the loan.
Early payments are mostly interest: in the first year only a small slice of each instalment reduces the balance. That is why a shorter term saves so much — the rate is similar, but the interest has far less time to compound.
Choosing a term
- $1,580 a month on a 30-year term, with $318,861 of interest paid in total.
- $1,864 a month on a 20-year term, with $197,343 of interest paid in total.
- $2,178 a month on a 15-year term, with $141,999 of interest paid in total.
- Property tax, homeowners insurance, PMI and HOA dues are not included — a common reason a real payment lands 20-30% above the figure shown here.
Monthly Payment by Rate & Term
| Interest Rate | 30 years | 20 years | 15 years |
|---|---|---|---|
| 5% | $1,342 | $1,650 | $1,977 |
| 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 |
| 8% | $1,834 | $2,091 | $2,389 |
Principal & interest only. Property tax, insurance, PMI and HOA are extra.
At 6.5% over 30 Years
| Loan Amount | $250,000 |
|---|---|
| Monthly Principal & Interest | $1,580 |
| Total Interest (30 yr) | $318,861 |
| Total of Payments | $568,861 |
First-Year Amortization (6.5%, 30 yr)
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $226 | $1,354 | $249,774 |
| 2 | $227 | $1,353 | $249,547 |
| 3 | $228 | $1,352 | $249,318 |
| 4 | $230 | $1,350 | $249,089 |
| 5 | $231 | $1,349 | $248,858 |
| 6 | $232 | $1,348 | $248,625 |
| 7 | $233 | $1,347 | $248,392 |
| 8 | $235 | $1,345 | $248,157 |
| 9 | $236 | $1,344 | $247,921 |
| 10 | $237 | $1,343 | $247,684 |
| 11 | $239 | $1,342 | $247,446 |
| 12 | $240 | $1,340 | $247,206 |
Early payments are mostly interest; principal builds over time.
Last reviewed: October 2026
Data sources: Standard mortgage amortization formula; Principal & interest only — excludes taxes, insurance, PMI, HOA.
Disclaimer: Payment estimates are for principal and interest at the rates shown. Your actual payment depends on your rate, taxes, insurance and fees. Not financial advice.